Turnkey Teriyaki Restaurant
9323 Martin Way E ##110 Olympia, WA 98516
For Sale
$425,000
Well-equipped 1,200 SF restaurant space with commercial kitchen, Type I hood, and walk-in refrigerator, plus ample on-site parking.
Property Size1,200 SF
Price / SF$354.17
Days on Market9
Property Features for 9323 Martin Way E ##110
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Commercial
Building Details
Year Built
2002
Listing Agency:
KELLER WILLIAMS SOUTH SOUND
(360) 786-6900
Listed By:
HYUN RIM
Source:
Corcoran
Added: Jul 22
Changed: Jul 25
Last Checked: Jul 29 at 10:39AM
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 KELLER WILLIAMS SOUTH SOUND
Investment Insights
Based on property information with market context.
This 1,200 SF restaurant property is offered with both the building space and an established teriyaki business. The interior is fully equipped for immediate operation, featuring a commercial kitchen, Type I hood system, walk-in refrigerator, and the essential equipment needed to continue service as-is or transition to a new restaurant concept. The layout supports dine-in, takeout, and delivery operations.
Located in a prime Lacey area along the Martin Way corridor, the property provides easy access to I-5 and JBLM, with ample on-site parking intended to support customer convenience.
The combination of a turnkey kitchen buildout and an operating restaurant presence makes this a straightforward option for a buyer seeking an income-capable restaurant asset while retaining flexibility to run the space under new branding.
Located in a prime Lacey area along the Martin Way corridor, the property provides easy access to I-5 and JBLM, with ample on-site parking intended to support customer convenience.
The combination of a turnkey kitchen buildout and an operating restaurant presence makes this a straightforward option for a buyer seeking an income-capable restaurant asset while retaining flexibility to run the space under new branding.
Key Highlights
- 1,200 SF restaurant building built in 2002
- Fully equipped commercial kitchen, including a Type I hood system
- Includes walk‑in refrigerator and essential equipment for immediate operation
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.1k | $15.12 |
| − Vacancy | −$762 | −$0.64 |
| EGI | $17.4k | $14.48 |
| − OpEx | −$4.3k | −$3.62 |
| NOI | $13.0k | $10.86 |
1,200 SF · lease $15.12/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$186.2K
$163.0K – $217.3K
NOI $13,036 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$351.4K
$307.4K – $409.9K
NOI $24,595 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Well-equipped 1,200 SF restaurant space with commercial kitchen, Type I hood, and walk-in refrigerator, plus ample on-site parking.
Where is this conventional restaurant located?
The property is located at 9323 Martin Way E ##110 Olympia, WA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,200 SF restaurant building built in 2002; Fully equipped commercial kitchen, including a Type I hood system; Includes walk‑in refrigerator and essential equipment for immediate operation
