Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    East Lacey Office Condo Title is generated by Realmo AI

    8685 Martin Way SE, Lacey, WA 98516

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $625,000

    Office condo in East Lacey with convenient access and ample parking.

    Type:Commercial
    Property size:
    2,205 SF
    Price / SF:
    $283/SF
    Added:
    Mar 25, 2026
    Days on Market:
    49
    Last Refresh:
    Mar 25 at 8:13 pm

    Property Features for 8685 Martin Way SE

    General Information

    Standard status
    Active
    Size
    2,205 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2017

    We can help!

    Listing Contact
    AMY HARDING

    Listing agent AMY HARDING License #125436

    Listing office KIDDER MATHEWS

    Listing date Mar 25, 2026

    Source Corcoran

    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

    HighLights

    • Flexible space: 2,205 SF divisible into 880 SF and 1,325 SF suites, easily combined.
    • Convenient location: Easy access from Nisqually exit, close to Joint Base Lewis McChord and Marvin Road.
    • Modern design: Updated design features and lots of natural light.
    • Class A building: Join established tenants like a pediatric orthodontist, dentist, and medical spa.
    • Ample parking: Plenty of campus parking available.
    • Versatile use: Suitable for office, spa, counselor, and other professional services (if ground floor access is not needed).

    Overview

    This 2,205 square foot office condo is located in East Lacey and offers convenient access from the Nisqually exit, with close proximity to Joint Base Lewis McChord, and alternate access from Marvin Road. The space is currently configured as one 880 square foot suite and one 1,325 square foot suite, but can be easily combined. The property features lots of natural light and updated design features. It is located in a Class A building with ample campus parking, alongside a pediatric orthodontist, dentist, and medical spa. While there is currently no ADA access, installation of a lift is feasible. This property is suitable for office, spa, counselor, and other uses, provided ground floor access is not required.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lacey
    County
    Thurston
    State
    Washington
    Longitude
    -122.7545368
    Latitude
    47.0582162

    Nearby Similar for Sale

    • $4,750,000

      Lacey Retail Corridor Strip Center

      Fully occupied strip center in prime Lacey retail corridor.
      4104 Martin Way E, Lacey, WA 98516
      View Details
    • Contact for pricing
      115,745 SF

      Lacey Retail Center For Sale

      115,745 SF multi-building retail center in Lacey, Washington.
      1110-1390 Galaxy Dr, Lacey, WA 98516
      View Details
    • Contact for pricing
      115,745 SF

      Lacey Retail Center For Sale

      115,745 SF multi-building retail center in Lacey, Washington.
      1110-1390 Galaxy Dr, Lacey, WA 98516
      View Details
    • $3,336,700
      1,157 SF

      Updated Office Space in Lacey

      Professional office space for rent near I-5 in Lacey, WA.
      4160 6th Ave SE, Lacey, WA
      View Details
    • $4,050,000

      Lacey Industrial Investment Opportunity

      Stabilized industrial asset near I-5, suitable for distribution/manufacturing.
      2600 Willamette Dr NE, Lacey, WA 98516
      View Details
    • $3,250,000

      Standalone Restaurant Building For Sale

      Restaurant building with large lot and ample parking.
      5580 Martin Way E, Lacey, WA 98516
      View Details
    • $3,300,000
      9,360 SF

      Lacey Retail Center For Sale

      Fully leased retail center in Lacey, WA for sale.
      1107 College St SE, Lacey, WA
      View Details
    • $5,200,000

      Retail Property in Lacey, WA

      Retail property available for sale in Lacey, Washington.
      6020 Pacific Ave SE, Lacey, WA
      View Details
    • $950,000

      Commercial Frontage on Martin Way

      Commercial property with auto repair shop and additional space.
      9220 Martin Way E, Lacey, WA 98516
      View Details
    • $3,525,000
      19,262 SF

      Gerber Collision Lacey Investment Opportunity

      Leased auto repair facility with long-term tenant and rent increases.
      1124 Carpenter Rd SE, Lacey, WA 98503
      View Details
    • $2,612,383
      33,416 SF

      Lacey Boulevard Commercial Property

      Commercial property available for sale in Lacey, Washington.
      5300 Lacey Boulevard Southeast, Lacey, WA, 98503
      View Details
    • $1,100,000
      6,741 SF

      Lacey Flex Space with Yard

      Flex space with ample office and huge fenced yard.
      9030 Martin Way E, Lacey, WA
      View Details

    FAQs

    What type of property is this?
    Office units - Office condo in East Lacey with convenient access and ample parking.
    Where is this office units 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: Flexible space: **2,205 SF divisible into 880 SF and 1,325 SF suites, easily combined.**; Convenient location: Easy access from Nisqually exit, close to Joint Base Lewis McChord and Marvin Road.; Modern design: **Updated design features and lots of natural light.**
    (360) 705-1337
    We can help!
    Listing Contact
    AMY HARDING
    Real Estate License ID: 125436
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    8685 Martin Way SE, Lacey, WA 98516
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!