Lacey Office Space For
8685 Martin Way SE, Lacey, WA
For Sale
Contact for pricing
Contemporary office space in medical strip center, easy freeway access.
Property Size2,320 SF
Lot Size1.07 Acres
Price / SF$269.40
Days on Market350
Property Features for 8685 Martin Way SE
General Information
Standard status
Size
Lot size
Property subtype
Lease Type
Properties For Sale
at 8685 Martin Way SE
8685 Martin Way, Second Floor
AVAILABLE
Size
2,320 SF
Type
OFFICE
Lease Type
FULL_SERVICE
Contemporary, well designed office space on second floor of medical strip center. 2 suites available. Lots of natural light and easy access onto freeway. Can be rented separately or together. No elevator access.
Contact us
Listing Agency:
Kidder Mathews
(253) 722-1400
Listed By:
Amy Harding · License #125436
(360) 705-1337
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 15
Last Checked: Aug 7 at 6:39AM
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 Kidder Mathews
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This contemporary office space is located on the second floor of a medical strip center in Lacey, WA. The property features well-designed interiors and abundant natural light. Two suites are available, which can be rented separately or together, totaling 2320 square feet. The location offers easy access to the freeway. Please note that there is no elevator access to the second floor.
Key Highlights
- Contemporary, well‑designed office space with lots of natural light
- Easy freeway access
- Two suites available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,218
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$604,360
$604.4K
Cap Rate 7%
$431,686
$431.7K
Cap Rate 9%
$335,756
$335.8K
Market Conditions
NOI Build-Up for 2,320 SF
Gross rent
$50.1K $21.60/SF
− Vacancy
−$9.8K −$4.23/SF
EGI
$40.3K $17.37/SF
− OpEx
−$10.1K −$4.34/SF
NOI
$30.2K $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 Rate 5%
$604,360
Cap Rate 7%
$431,686
Cap Rate 9%
$335,756
Alternative Uses
Best Use
Office B
$431.7K
$377.7K – $503.6K
NOI $30,218 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$679.3K
$594.4K – $792.5K
NOI $47,551 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office Units in Thurston County
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Contemporary office space in medical strip center, easy freeway access.
Where is this office unit located?
The property is located at 8685 Martin Way SE Lacey, WA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Contemporary, well‑designed office space with lots of natural light; Easy freeway access; Two suites available
