Downtown Olympia Corner Retail
501 S Capitol Way, Olympia, WA
For Sale
Contact for pricing
Corner retail space in downtown Olympia with high visibility.
Property Size3,360 SF
Lot Size0.17 Acres
Price / SF$296.13
Days on Market356
Property Features for 501 S Capitol Way
General Information
Standard status
Size
Lot size
Property subtype
Lease Type
Properties For Sale
at 501 S Capitol Way
109 5th Avenue SW
PENDING
Size
1,600 SF
Type
RETAIL
Lease Type
MODIFIED_GROSS
Listing Agency:
Coldwell Banker/Evergreen
(360) 352-7651
Listed By:
Deborah Draper-Aikins
(360) 791-3869
Source:
Moodyscre
Added: Nov 18, 2025
Changed: Nov 2
Last Checked: Nov 8 at 8:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker/Evergreen
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail space is located on a corner in downtown Olympia. The property features storefront windows on two sides, providing high visibility. The space has been recently remodeled and features new paint. The property size is 3,360 square feet. The tax ID number is 78500600200.
Key Highlights
- Great corner location in downtown Olympia
- Storefront on two sides, maximizing exposure
- Lots of picture windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,558
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$811,160
$811.2K
Cap Rate 7%
$579,400
$579.4K
Cap Rate 9%
$450,644
$450.6K
Market Conditions
NOI Build-Up for 3,360 SF
Gross rent
$60.5K $18.00/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$57.9K $17.24/SF
− OpEx
−$17.4K −$5.17/SF
NOI
$40.6K $12.07/SF
Area
Thurston County, WA
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$811,160
Cap Rate 7%
$579,400
Cap Rate 9%
$450,644
Alternative Uses
Best Use
Retail
$579.4K
$507.0K – $676.0K
NOI $40,558 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$983.8K
$860.8K – $1.15M
NOI $68,867 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,620
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- Capitol Florist — 515 Capitol Way S, Olympia, WA 98501
- Phloxus Farms — 116 Legion Way SE, Olympia, WA 98501
- Fleurae — 222 Capitol Way N, Olympia, WA 98501
Frequently Asked Questions
What type of property is this?
Storefront property - Corner retail space in downtown Olympia with high visibility.
Where is this storefront property located?
The property is located at 501 S Capitol Way Olympia, WA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Great corner location in downtown Olympia; Storefront on two sides, maximizing exposure; Lots of picture windows
