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704 Lilly Rd SE, Olympia, WA 98501

3,832 SF medical office space built in 1988.

Space Size3,832 SF
Days on Market149

Property Features for 704 Lilly Rd SE

General Information

Standard status Active
Size 3,832 SF
Property subtype Office
Lease Type NNN

Building Details

Year Built 1988
Tenancy Single

Spaces For Lease

at 704 Lilly Rd SE Contact us

Available Space

Size
3,832 SF
Type
Office
Lease Type
NNN
Availability
Active
Contact us
Listing Agency: First Western Properties, Inc. Tacoma
Listed By: Jameson Sullivan · License #WA
Source: Crexi
Added: Mar 25 Changed: Aug 8 Last Checked: Aug 19 at 6:56PM

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 First Western Properties, Inc. Tacoma

Investment Insights

Based on property information with market context.

The property at 704 LILLY ROAD SE, constructed in 1988, is a 3,832 SF medical office building originally designed for chiropractic use. The building is equipped with an X-ray room, multiple patient rooms, and a large finished attic providing additional storage space. The property is located half a block from Pacific Avenue and directly across from Albertsons Shopping Center, offering visibility and exposure. This location may be suitable for healthcare providers looking to establish or expand their practice.

Key Highlights

  • 3,832 SF medical office building designed for healthcare practices.
  • Ideally located half a block from Pacific Avenue and across from Albertsons Shopping Center, offering excellent visibility.
  • Features an X‑ray room and multiple patient rooms.

Property Analytics

Current Use

Ms. Jessica Hannigan Physician Christopher A Hawkins Physician Namdar Kazemi Ashtiani Physician Bryan Nestor Physician Scott Slattery Physician

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Catering Service Furniture & Home Goods Butcher Wine and Liquor Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)
Lease Type
$3.60 /SF/Yr
CAM

Location Intelligence

Trade Area within ½ mile

1,418
Businesses Nearby
Well-served
Demand for This Use

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

11% 2019
14.1% 2020
15.5% 2021
17.2% 2022
19.9% 2023
21% 2024
20.8% 2025
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Frequently Asked Questions

What type of property is this?
Medical Office Space - 3,832 SF medical office space built in 1988.
Where is this medical office space located?
The property is located at 704 Lilly Rd SE Olympia, WA.
What is the lease rate?
The lease rate is $24 SF/Yr.
What are key features of this property?
This property features: 3,832 SF medical office building designed for healthcare practices.; Ideally located half a block from Pacific Avenue and across from Albertsons Shopping Center, offering excellent visibility.; Features an X‑ray room and multiple patient rooms.
(253) 471-5508 Call to check price and availability
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