Building Details

Year Built 1937

Stories 2

Units 3

Tenancy Multi

Listing Agency: Coldwell Banker Evergreen d***@cbolympia.com Show Phone

Listed By: Debbie Draper Show Phone

Source: Multifamilyspecialist

Added: Nov 22, 2025 Changed: Aug 22 Last Checked: Aug 22 at 3:29AM

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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.

Built in 1937, this two-level storefront property includes 7,072 square feet on the main floor and 1,600 square feet upstairs. The building has new HVAC and is currently occupied by Escape Puzzle Room, Harlequin Productions, and Super Silver Jewelry store under month-to-month tenancy agreements.

The property occupies the corner of 5th and Capitol in downtown Olympia at 501 S Capitol Way. Its storefront configuration, commercial zoning, and existing tenant lineup provide a clearly defined retail-oriented commercial profile.

Key Highlights

• 7,072 square feet on the main floor
• 1,600 square feet upstairs
• New HVAC system

Property Analytics

Property Profile

Current Use

Olympia Lamplighters Coworking & Hybrid Office

Suggested Use

Top Pick Pharmacy (Bike/Boat/Book/etc) Store Locksmith Carpet & Flooring Store Pet Grooming Service Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

2,620

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 98501, WA

45,274

Population

19,969

Households

2.3

Avg Household Size

40

Median Age

48%

College-Educated

97%

High-School Grad

34.9 sq mi

ZIP Area

1,297

Density / Sq Mi

$95,695

Median Household Income

$55,909

Median Earnings

$1,600

Median Rent

$485,200

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Commercial zoning and month-to-month tenant agreements define the current occupancy.

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: 7,072 square feet on the main floor; 1,600 square feet upstairs; New HVAC system