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    400 State Ave Olympia, WA 98501

    For Sale
    $1,250,000

    Prime Commercial Lot, Redevelopment Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    367
    This exceptional .45-acre commercial lot, located at 400 State Ave NE in Olympia, WA (APN 78504200100), presents a compelling redevelopment opportunity. Priced at $1,250,000, this property boasts a 19,506 square foot lot size and is zoned Urban Waterfront, offering significant flexibility for various development projects. Its strategic location within an Opportunity Zone provides added investment incentives. The site's proximity to the Downtown InterCity Transit Station ensures convenient access for future tenants and patrons. Easy access is also available from Adams Street NE and State Ave NE. A Phase II Environmental Site Assessment has been completed, yielding favorable results, minimizing environmental concerns for potential developers. The property's versatility allows for a range of uses, including retail, multifamily, or mixed-use developments, catering to the diverse needs of the thriving Olympia market. This is a rare chance to acquire a prime commercial parcel in a highly desirable and rapidly developing area of downtown Olympia. The property's size and zoning make it an ideal candidate for a variety of projects, promising substantial returns on investment. Don't miss this exceptional opportunity to shape the future of Olympia's downtown landscape.

    Property Features for 400 State Ave

    General Information

    Property type
    Land

    HighLights

    • .45‑acre commercial lot in Olympia, WA (APN 78504200100), priced at $1,250,000.
    • 19,506 square foot lot size, Urban Waterfront zoning.
    • Located in an Opportunity Zone, near the Downtown InterCity Transit Station.
    • Phase II ESA completed with favorable results.
    • Suitable for retail, multifamily, or mixed‑use development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Spa & Massage Gym & Fitness Building Supply Accounting Firm Auto Repair Shop Wholesale Shop Department Store Kitchen & Bath

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

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.897811
    Latitude
    47.046379

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    FAQs

    What type of property is this?
    Land - Prime Commercial Lot, Redevelopment Opportunity
    Where is this land located?
    The property is located at 400 State Ave Olympia, WA.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: .45-acre commercial lot in Olympia, WA (APN 78504200100), priced at $1,250,000.; 19,506 square foot lot size, Urban Waterfront zoning.; Located in an Opportunity Zone, near the Downtown InterCity Transit Station.
    (360) 352-7822
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    400 State Ave Olympia, WA 98501
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    Olympia, WA 98501
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    Realmo Value Estimation

    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.

    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.

    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
    400 State Ave Olympia, WA 98501
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