Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5400 Martin Way E Lacey, WA 98516

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail center in Olympia/Lacey market with strong visibility and parking.

    Property Features for 5400 Martin Way E

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Jameson Sullivan
    Source: Crexi

    Listing Agency: First Western Properties, Inc. Tacoma Listing Agent: Jameson Sullivan

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    High-Traffic Retail Center For Rent

    Martine Village is a high-traffic retail center located along Martin Way E, a key commercial corridor in the Olympia/Lacey market. The shopping center is anchored by major national and regional tenants. It benefits from strong visibility, ample parking, and easy access. Situated in a dense residential and business district, Martin Village is an ideal location for retailers looking to tap into a thriving consumer base.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lacey
    County
    Thurston
    State
    Washington
    Longitude
    -122.8133654
    Latitude
    47.0504194

    Nearby Similar for Lease

    • $2,083 /Mo
      1,000 SF

      Northshore Corporate Office Space

      Affordable office spaces available in Lacey, WA.
      8613 Martin Way E, Lacey, WA 98516
      View Details
    • $833 /Mo
      400 SF

      Office Space in Lacey

      Affordable office space with utilities included in Lacey, WA.
      8613 Martin Way E, Lacey, WA 98516
      View Details
    • Contact for pricing

      Three-Building Business Park on Lacey

      Versatile business park located on Lacey Boulevard.
      5707 Lacey Blvd SE, Lacey, WA 98503
      View Details
    • $2,200 /Mo
      1,476 SF

      Lacey Office Space Available

      Meticulously maintained office space in Lacey business park for rent.
      4631 Whitman Ln SE, Lacey, WA 98513
      View Details
    • $2,605 /Mo
      1,888 SF

      Versatile Industrial Space in Lacey

      Modern industrial suite suitable for retail, office, warehouse, and light industrial.
      7940 29Th Ave NE, Lacey, WA 98516
      View Details
    • $1,500 /Mo
      1,000 SF

      End-Cap Office or Retail Space

      Light, bright office or retail spaces in a mixed-use property.
      9333 Martin Way E, Lacey, WA 98516
      View Details
    • $2,200 /Mo
      1,100 SF

      Retail Space in Lacey Core

      Retail space in a grocery-anchored neighborhood center.
      8205 Martin Way E, Lacey, WA 98516
      View Details
    • $17,071 /Mo
      20,084 SF

      Lacey Warehouse with Existing Office

      20,084 SF warehouse with office space near I-5.
      8719 Commerce Place Dr NE, Lacey, WA 98516
      View Details
    • $2,200 /Mo
      1,476 SF

      Move-in Ready Remodeled Office Suite

      Remodeled 1,476 SF office suite in high-traffic Lacey plaza.
      4631 Whitman Ln SE, Lacey, WA 98513
      View Details
    • $3,829 /Mo
      1,209 SF

      Retail Space in Lacey Corridor

      New retail space in Lacey's prime shopping center.
      1200 Galaxy Dr, Lacey, WA 98516
      View Details
    • $3,800 /Mo
      1,200 SF

      New Retail Space in Lacey

      New retail space in Lacey's retail corridor, available 2024.
      1200 Galaxy Dr, Lacey, WA 98516
      View Details
    • $2,356 /Mo
      1,488 SF

      Lacey Office/Event Space For Rent

      1488 SF Lacey office/event space with kitchen, parking.
      975 Carpenter Rd NE, Lacey, WA 98516
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail center in Olympia/Lacey market with strong visibility and parking.
    Where is this shopping center located?
    The property is located at 5400 Martin Way E Lacey, WA.
    What are key features of this property?
    This property features: - High-traffic location on Martin Way E, a key commercial corridor.; - Anchored by major national and regional tenants.; - Strong visibility.
    Request Owner's contact information
    5400 Martin Way E Lacey, WA 98516
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5400 Martin Way E
    Lacey, WA 98516
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5400 Martin Way E Lacey, WA 98516
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jameson Sullivan
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!