Multi-Tenant Retail
7131 Martin Way E, Olympia, WA 98516
For Sale
$11,000,000
Fully occupied center with restaurant, retail, service, and professional tenants.
Property Size44,603 SF
Lot Size4.66 Acres
Price / SF$246.62
Days on Market35
Property Features for 7131 Martin Way E
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Occupancy
Additional Details
Highway Access
Tenant in Place
Building Details
Year Built
Tenancy
Listing Agency:
Best Choice Realty LLC
Listed By:
Hae Kyoung Cho
(425) 761-1469
Source:
Terrafinre
Added: Oct 5
Changed: Nov 8
Last Checked: Nov 7 at 5:00PM
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 Best Choice Realty LLC
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Investment Insights
Based on property information with market context.
This multi-tenant retail center was built in 1962 and contains approximately 44,603 SF across approximately 4.66 acres. The property has 214 parking spaces and is currently 100% occupied, with restaurant, retail, service, and professional tenants represented.
The center fronts Martin Way E, near I-5, JBLM, and Hawks Prairie. Residential and commercial development is established in the surrounding area.
The center fronts Martin Way E, near I-5, JBLM, and Hawks Prairie. Residential and commercial development is established in the surrounding area.
Key Highlights
- Approximately 44,603 SF of building area on approximately 4.66 acres
- Currently 100% occupied with restaurant, retail, service, and professional tenants
- 214 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$538,394
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,767,880
$10.8M
Cap Rate 7%
$7,691,343
$7.7M
Cap Rate 9%
$5,982,156
$6.0M
Market Conditions
NOI Build-Up for 44,603 SF
Gross rent
$802.9K $18.00/SF
− Vacancy
−$33.7K −$0.76/SF
EGI
$769.1K $17.24/SF
− OpEx
−$230.7K −$5.17/SF
NOI
$538.4K $12.07/SF
Area
Thurston County, WA
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,767,880
Cap Rate 7%
$7,691,343
Cap Rate 9%
$5,982,156
Alternative Uses
Best Use
Retail
$7.69M
$6.73M – $8.97M
NOI $538,394 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.06M
$11.43M – $15.24M
NOI $914,183 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 98516, WA
29,443
Population
11,600
Households
2.5
Avg Household Size
38
Median Age
37%
College-Educated
94%
High-School Grad
28.8 sq mi
ZIP Area
1,022
Density / Sq Mi
$92,191
Median Household Income
$52,188
Median Earnings
$1,948
Median Rent
$528,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- Tanglewilde Shopping Center — 725 Martin Way E, Olympia, WA 98516
- Seattle’s Best Coffee Kiosk — 7540 martin way e, olympia, wa 98516
- Coinstar Kiosk | Bitcoin ATM — 7540 Martin Way E WinCo, Olympia, WA 98516
- Sunglass Outfitters by Sunglass Hut — 1600 Gateway Blvd NE, Lacey, WA 98516
Frequently Asked Questions
What type of property is this?
Shopping center - Fully occupied center with restaurant, retail, service, and professional tenants.
Where is this shopping center located?
The property is located at 7131 Martin Way E Olympia, WA.
What is the asking price?
The asking price for this property is $11,000,000.
What are key features of this property?
This property features: Approximately 44,603 SF of building area on approximately 4.66 acres; Currently 100% occupied with restaurant, retail, service, and professional tenants; 214 parking spaces
