Class A Commercial
For Sale
Contact for pricing
6400 Linderson Way SW, Tumwater, WA
83,377 SF Class A office space for lease.
Property Size83,377 SF
Lot Size5.82 Acres
Price / SF$253.01
Days on Market391
Property Features for 6400 Linderson Way SW
General Information
Standard status
Active
Size
83,377 SF
Lot size
5.82 Acres
Property subtype
OFFICE
Listing Agency:
BHGRE Commercial Premier NW
(360) 943-9922
Listed By:
Joni Baker
(360) 943-9922
Source:
Moodyscre
Added: Jul 26, 2025
Changed: Jul 6
Last Checked: Aug 20 at 4:53AM
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 BHGRE Commercial Premier NW
Investment Insights
Based on property information with market context.
This Class A commercial building offers 83,377 square feet of space. It is strategically located between Seattle and Portland in Olympia, WA. Designed to meet the needs of corporate, technology, life science, medical, and government tenants, the building features flexible floor plates and abundant natural light, suitable for multi-tenant or single-user occupancy within a landscaped campus setting. High-efficiency HVAC systems and fiber connectivity are in place, along with secure access and upscale lobbies. Conference rooms are equipped with state-of-the-art equipment, and cafe/kitchen areas are located throughout the building. Areas are available for fitness, and restrooms include showers. Ample parking is available to accommodate tenant demand. The building features LED lighting throughout, touchless faucets and plumbing features, and gender-neutral bathrooms, with separate male and female showers. The building is EnergyStar rated and zoned for general commercial use.
Key Highlights
- Class A commercial building, part of a premier 253,000 sf campus.
- Strategic location between Seattle and Portland in Olympia, WA.
- 83,377 sf of flexible space suitable for multi‑tenant or single‑user.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,085,969
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$21,719,380
$21.7M
Cap Rate 7%
$15,513,843
$15.5M
Cap Rate 9%
$12,066,322
$12.1M
Market Conditions
NOI Build-Up for 83,377 SF
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.
Gross rent
$1.80M $21.60/SF
− Vacancy
−$353.0K −$4.23/SF
EGI
$1.45M $17.37/SF
− OpEx
−$362.0K −$4.34/SF
NOI
$1.09M $13.02/SF
Area
Thurston County, WA
Vacancy
19.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$21,719,380
Cap Rate 7%
$15,513,843
Cap Rate 9%
$12,066,322
Alternative Uses
Best Use
Office B
$15.51M
$13.57M – $18.10M
NOI $1,085,969 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$24.41M
$21.36M – $28.48M
NOI $1,708,895 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
949
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 83,377 SF Class A office space for lease.
Where is this office building located?
The property is located at 6400 Linderson Way SW Tumwater, WA.
What is the asking price?
The asking price for this property is $21,095,000.
What are key features of this property?
This property features: Class A commercial building, part of a premier 253,000 sf campus.; Strategic location between Seattle and Portland in Olympia, WA.; 83,377 sf of flexible space suitable for multi‑tenant or single‑user.
