Residential Development Land with Approved
For Sale
Contact for pricing
8623 Steilacoom Road Southeast, Olympia, WA 98513
Shovel-ready 7-lot short plat approval on acreage with an existing duplex and approved civil plans for utilities and site improvements.
Property Size55,757 SF
Price / SF$24.21
Days on Market51
Property Features for 8623 Steilacoom Road Southeast
General Information
Standard status
Active
Size
55,757 SF
Property subtype
Retail, Land
Zoning
LD 3-6, General Zoning, Multi Family, Singlefamily
Listing Agency:
Chris Gurnee Team - Exp Realty
Listed By:
Chris Gurnee · License #24677
Source:
Crexi
Added: Jun 20
Changed: Aug 8
Last Checked: Jul 15 at 8:06PM
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 Chris Gurnee Team - Exp Realty
Investment Insights
Based on property information with market context.
This property presents a development opportunity with an existing duplex and an approved 7-lot short plat. The approved plan converts the existing duplex into two townhouse lots and adds five additional single-family residential lots, creating seven total buildable lots. The seller states that approved civil plans are available through the city, supporting the next steps for water and sewer extensions, along with sidewalks and street tree improvements.
The site is described as conveniently located about 1.5 miles from I-5, with major retail amenities including Costco and Home Depot nearby. The property is in the growing city of Lacey, which the remarks describe as home to approximately 60,000 residents.
For buyers considering development, the key advantage here is the short plat approval already in place, with civil documentation available to move forward with the planned infrastructure and site work. The remarks also reference Washington State housing regulations that may allow up to two ADUs per lot, subject to buyer verification, which could support a higher-density end-use plan across the seven lots. Interested parties should confirm all compliance and permitting requirements directly for their intended layout and use.
The site is described as conveniently located about 1.5 miles from I-5, with major retail amenities including Costco and Home Depot nearby. The property is in the growing city of Lacey, which the remarks describe as home to approximately 60,000 residents.
For buyers considering development, the key advantage here is the short plat approval already in place, with civil documentation available to move forward with the planned infrastructure and site work. The remarks also reference Washington State housing regulations that may allow up to two ADUs per lot, subject to buyer verification, which could support a higher-density end-use plan across the seven lots. Interested parties should confirm all compliance and permitting requirements directly for their intended layout and use.
Key Highlights
- 1.28‑acre development opportunity with an approved 7‑lot short plat in Lacey
- Includes an existing duplex with an approved plan to convert it into 2 townhouse lots
- Approved project includes 5 additional single‑family residential lots for 7 total buildable lots
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 98513, WA
36,059
Population
14,533
Households
2.5
Avg Household Size
39
Median Age
33%
College-Educated
94%
High-School Grad
49.9 sq mi
ZIP Area
723
Density / Sq Mi
$108,270
Median Household Income
$54,639
Median Earnings
$1,897
Median Rent
$443,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Shovel-ready 7-lot short plat approval on acreage with an existing duplex and approved civil plans for utilities and site improvements.
Where is this residential land & home lot located?
The property is located at 8623 Steilacoom Road Southeast Olympia, WA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 1.28‑acre development opportunity with an approved 7‑lot short plat in Lacey; Includes an existing duplex with an approved plan to convert it into 2 townhouse lots; Approved project includes 5 additional single‑family residential lots for 7 total buildable lots
