Retail Showroom Building with
509 E 4th Ave Olympia, WA 98501
509 E 4th Ave, Olympia, WA, 98501
Contact for pricing
For Sale
Contact for pricing
Vacant 4,900 sf front showroom plus two storage areas; additional 6,000 sf space occupied by Ballet NW.
Property Size4,900 SF
Price / SF$305.92
Days on Market352
Property Features for 509 E 4th Ave
General Information
- Standard status
- Active
- Size
- 4,900 SF
- Property subtype
- RETAIL
Properties For Sale
at 509 E 4th Ave Contact us
Listing agency
Coldwell Banker/Evergreen
(360) 791-3869
Listed by
Deborah Draper-Aikins
(360) 791-3869
Source
Moodyscre
Added: Aug 4, 2025 Updated: Jul 21 at 2:01PM Checked: Jul 21 at 2:01PM
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 13,657-square-foot retail building on E 4th Ave includes a front showroom totaling 4,900 square feet. The showroom is vacant and available for lease on a NNN basis. Also included are two separate 1,200-square-foot storage areas, with one storage area offering a garage door to an alley.
The property further includes 6,000 square feet of space that fronts on Jefferson and is currently home to Ballet NW. That tenant is under lease through 5/27 and pays $76K per year, plus taxes and utilities. New renderings have been prepared for live-work lofts associated with the 4,900-square-foot portion.
The property further includes 6,000 square feet of space that fronts on Jefferson and is currently home to Ballet NW. That tenant is under lease through 5/27 and pays $76K per year, plus taxes and utilities. New renderings have been prepared for live-work lofts associated with the 4,900-square-foot portion.
Key Highlights
- 13,657 SF building with two distinct spaces: 4,900 SF front showroom plus two 1,200 SF storage areas
- Front 4,900 SF showroom is vacant and available for lease at $10 NNN
- One 1,200 SF storage area includes a garage door to the alley
Local Financial Insights For Office B
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 | $105.8k | $21.60 |
| − Vacancy | −$20.7k | −$4.23 |
| EGI | $85.1k | $17.37 |
| − OpEx | −$21.3k | −$4.34 |
| NOI | $63.8k | $13.02 |
4,900 SF · lease $21.60/SF/yr · vacancy 19.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$911.7K
$797.8K – $1.06M
NOI $63,822 @ 7.0% cap · market cap 4.26%
Second Best
Retail
$845.0K
$739.3K – $985.8K
NOI $59,147 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$1.43M
$1.26M – $1.67M
NOI $100,430 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Storefront property - Vacant 4,900 sf front showroom plus two storage areas; additional 6,000 sf space occupied by Ballet NW.
Where is this storefront property located?
The property is located at 509 E 4th Ave 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: 13,657 SF building with two distinct spaces: 4,900 SF front showroom plus two 1,200 SF storage areas; Front 4,900 SF showroom is vacant and available for lease at $10 NNN; One 1,200 SF storage area includes a garage door to the alley
