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 Market252
Property Features for 501 S Capitol Way
General Information
Standard status
Active
Size
3,360 SF
Lot size
0.17 Acres
Property subtype
RETAIL
Listing Agency:
Coldwell Banker/Evergreen
(360) 791-3869
Listed By:
Deborah Draper-Aikins
(360) 791-3869
Source:
Moodyscre
Added: Nov 18, 2025
Changed: Jul 6
Last Checked: Jul 21 at 6:09AM
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
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 For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.5k | $18.00 |
| − Vacancy | −$2.5k | −$0.76 |
| EGI | $57.9k | $17.24 |
| − OpEx | −$17.4k | −$5.17 |
| NOI | $40.6k | $12.07 |
3,360 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 30.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Capitol Florist — 515 Capitol Way S, Olympia, WA 98501
- Fleurae — 222 Capitol Way N, Olympia, WA 98501
- Phloxus Farms — 116 Legion Way SE, 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
