Class A Office
For Sale
$25,233,208
6500 Linderson Way, Tumwater, WA 98501
Flexible floor plates, natural light, and modern infrastructure support single-user or multi-tenant occupancy.
Property Size99,736 SF
Price / SF$253
Days on Market51
Property Features for 6500 Linderson Way
General Information
Standard status
Active
Size
99,736 SF
Class
Class A
Property subtype
Office
Zoning
General Commercial
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Amenities
High efficiency HVAC systems
Fiber Connectivity
Secure Access
Upscale lobbies
Conference rooms with state of the art equipment
Cafe/Kitchen areas throughout
Areas ideal for fitness
Rest rooms with showers
Building Details
Year Built
2003
Buildings
1
Building Size
99,736 SF
Listing Agency:
R.H. Cooke & Associates
(509) 327-2282
Listed By:
Bob Cooke
(509) 327-2282
Source:
Rhcooke.idxbroker
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 29 at 5:51AM
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 R.H. Cooke & Associates
Investment Insights
Based on property information with market context.
The offering includes a 99,736-square-foot Class A office building constructed in 2003 on a landscaped commercial campus. Flexible floor plates and abundant natural light support either single-user or multi-tenant occupancy. The property includes efficient HVAC, fiber connectivity, secure access, conference rooms with modern equipment, café and kitchen areas, fitness areas, restrooms with showers, upscale lobbies, and ample parking. General Commercial zoning is in place.
Located at 6500 Linderson Way in Tumwater, Washington, the building has prominent frontage and signage along Interstate 5. The 16-acre setting includes existing water, sewer, power, and fiber optic systems. The source information also identifies potential conversion concepts including multifamily residential, hospitality, lodging, event, conference, and recreation uses.
Located at 6500 Linderson Way in Tumwater, Washington, the building has prominent frontage and signage along Interstate 5. The 16-acre setting includes existing water, sewer, power, and fiber optic systems. The source information also identifies potential conversion concepts including multifamily residential, hospitality, lodging, event, conference, and recreation uses.
Key Highlights
- 99,736‑square‑foot office building on a 16‑acre campus
- Constructed in 2003 with Class A design and modern infrastructure
- Prominent Interstate 5 frontage with signage
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
$1,299,041
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%
$25,980,820
$26.0M
Cap Rate 7%
$18,557,729
$18.6M
Cap Rate 9%
$14,433,789
$14.4M
Market Conditions
NOI Build-Up for 99,736 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
$2.15M $21.60/SF
− Vacancy
−$422.2K −$4.23/SF
EGI
$1.73M $17.37/SF
− OpEx
−$433.0K −$4.34/SF
NOI
$1.30M $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%
$25,980,820
Cap Rate 7%
$18,557,729
Cap Rate 9%
$14,433,789
Alternative Uses
Best Use
Office B
$18.56M
$16.24M – $21.65M
NOI $1,299,041 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$29.20M
$25.55M – $34.07M
NOI $2,044,189 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
949
Businesses Nearby
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Flexible floor plates, natural light, and modern infrastructure support single-user or multi-tenant occupancy.
Where is this office building located?
The property is located at 6500 Linderson Way Tumwater, WA.
What is the asking price?
The asking price for this property is $25,233,208.
What are key features of this property?
This property features: 99,736‑square‑foot office building on a 16‑acre campus; Constructed in 2003 with Class A design and modern infrastructure; Prominent Interstate 5 frontage with signage
