509 4Th Ave Olympia, WA 98501
- Retail properties
- 13,657 SF
Current Use by Public Records
- Retail properties
Property Details for 509 4Th Ave
- Year built
- 1925
- Property size
- 13,657 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional restaurant property, located at 509 4th Ave E in Olympia, WA, presents a compelling investment opportunity. Built in 1925, the 13,657 square foot building boasts a prime downtown location across from the popular Well 80 Restaurant. The property features a long-term tenant, Ballet NW, occupying 7,200 square feet under lease until June 1, 2027, providing immediate and consistent cash flow. A significant 4,900 square foot vacant storefront offers substantial potential for expansion or leasing to a complementary business. An additional 1,200 square feet of storage space adds to the property's versatility. The building's strong financial performance is reflected in its Net Operating Income (NOI) of $60,505.11, making it an attractive investment with significant upside potential. The property's 98501 zip code and Thurston County location place it within a thriving commercial district. This is a rare chance to acquire a well-established restaurant property with a proven track record and significant growth opportunities in a desirable downtown location. The asking price is $1,699,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Olympia
- County
- Thurston
- State
- Washington
- Longitude
- -122.896
- Latitude
- 47.0449
