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    120 4Th Ave Olympia, WA 98501

    Sponsored
    For Sale
    $1,299,999

    High-yield, fully leased retail building.

    Property size:
    6,623 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a stabilized, multi-tenant retail storefront located at 120 4th Ave E, Olympia, WA 98501. The property boasts 6,623 square feet of net rentable space, currently occupied by three tenants under a gross lease structure, ensuring a consistent income stream. The building, constructed in 1920, features a single story and is zoned DB. With a 100% occupancy rate and a strong net operating income (NOI) of $84,507, this property offers a compelling 6.50% capitalization rate. The asking price is $1,299,999, translating to a price per square foot of $196.29. Leases are currently in place until April 1, 2027, providing a remaining lease term of approximately 2.4 years. The property benefits from recent upgrades, including a complete ductwork replacement and ongoing tenant improvements. Each of the three units is separately metered, offering enhanced operational efficiency. This prime location in downtown Olympia provides excellent visibility and accessibility, making it an ideal investment for discerning buyers seeking a stable and profitable retail asset. The Thurston County Assessor's Parcel Number (APN) is 78501300500. This is a turnkey opportunity with significant potential for long-term growth and return on investment.

    Property Features for 120 4Th Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    6,623 SF

    Building Details

    Year Built
    1920
    Buildings
    1
    Stories
    1
    Units
    3

    HighLights

    • Stabilized, multi‑tenant retail property at 120 4th Ave E, Olympia, WA.
    • 6,623 square feet of net rentable space with three tenants under gross leases.
    • 100% occupancy, generating $84,507 NOI and a 6.50% cap rate.
    • Asking price: $1,299,999 ($196.29/SF).
    • Leases extend to April 1, 2027 (approx. 2.4 years remaining).
    Property Profile Location Intelligence

    Current Use by Public Records

    Odds and Ends Gift Shop

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.9007088
    Latitude
    47.0451568

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    FAQs

    What type of property is this?
    Individual retail property - High-yield, fully leased retail building.
    Where is this individual retail property located?
    The property is located at 120 4Th Ave Olympia, WA.
    What is the asking price?
    The asking price for this property is $1,299,999.
    What are key features of this property?
    This property features: Stabilized, multi-tenant retail property at 120 4th Ave E, Olympia, WA.; 6,623 square feet of net rentable space with three tenants under gross leases.; 100% occupancy, generating $84,507 NOI and a 6.50% cap rate.
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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
    120 4Th Ave Olympia, WA 98501
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