Versatile Building with Redevelopment
For Sale
$1,499,000
509 E 4th Avenue, Olympia, WA 98501
13,657 SF building with showroom, storage, and redevelopment options.
Property Size13,657 SF
Lot Size0.48 Acres
Price / SF$109.76
Days on Market168
Property Features for 509 E 4th Avenue
General Information
Standard status
Active
Size
13,657 SF
Lot size
0.48 Acres
Property subtype
Retail
Building Details
Year Built
1925
Listing Agency:
(360) 791-3869
Listed By:
Debbie Draper-Aikins
(360) 791-3869
Source:
Cbcworldwide
Added: Mar 5
Changed: Jul 10
Last Checked: Aug 3 at 2:37PM
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 Debbie Draper-Aikins
Investment Insights
Based on property information with market context.
This 13,657 square foot building presents multiple opportunities. Currently, the property features a 4,900 square foot showroom with a restroom, complemented by two 1,200 square foot storage areas at the rear. A 6,000 square foot space, fronting Jefferson Street, is leased to Ballet NW until May 2027 for $76,000 annually, in addition to property tax and utilities. The seller is open to dividing the building into two separate spaces. The front portion, comprising the 4,900 square foot showroom on 4th Avenue and the two 1,200 square foot storage areas, is available. The 6,000 square foot section leased to NW Ballet on Jefferson is also available for purchase separately. The seller has renderings available for a new live-work development plan featuring five units fronting 4th Avenue. The property is situated across the street from Well 80. Additionally, the 4,900 square foot retail space is available for lease at $10.00 NNN. The property is situated on a 0.48-acre lot.
Key Highlights
- Substantial 13,657 SF building with multiple possibilities.
- Existing lease with Ballet NW generating $76K annual income (plus property tax and utilities) until 5/27.
- Option to purchase either the 4,900 SF front retail space with two 1,200 SF storage areas, or the 6,000 SF leased portion separately.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
544
Businesses Nearby
Under-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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Showroom - 13,657 SF building with showroom, storage, and redevelopment options.
Where is this showroom located?
The property is located at 509 E 4th Avenue Olympia, WA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Substantial 13,657 SF building with multiple possibilities.; Existing lease with Ballet NW generating $76K annual income (plus property tax and utilities) until 5/27.; Option to purchase either the 4,900 SF front retail space with two 1,200 SF storage areas, or the 6,000 SF leased portion separately.
