520 Lilly Rd Olympia, WA 98506
This exceptional 1,074 square foot medical office building, located at 520 Lilly Rd NE, Building 2, Olympia, WA 98506, presents a unique investment opportunity. Built in 1973, this two-story structure offers a versatile space ideal for a variety of medical, wellness, or beauty-related businesses. The entire building (1,074 square feet) is currently vacant, providing immediate occupancy for a new tenant. The upper floor features two exam rooms, a private ADA-compliant restroom, a reception desk, and a comfortable waiting area, along with a secondary entrance for patient convenience. The lower level boasts an open layout, perfect for customization, supplemented by storage closets and a practical kitchenette equipped with a full oven, compact washer, and dryer. The property's APN is 57530000200, situated in Thurston County. This turnkey medical office building is ready for immediate use and offers significant potential for growth and return on investment. Its convenient location in Olympia, Washington, provides easy access to a thriving community. The property's layout and amenities make it an attractive option for a wide range of medical professionals. Don't miss this chance to acquire a well-maintained, fully vacant medical office building in a desirable location.
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The Olympia Free Clinic Medical Clinic
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Kathleen M. Hurd, MD Pediatrician Physician
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Woodard Creek Family Medicine Medical Clinic
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Nicole S. Carney, DPM Physician
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Northwest Neuromuscular Associates Medical Clinic
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.