Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3912 Martin Way Olympia, WA 98506
    Back to Search
    Property profile & analytics

    3912 Martin Way Olympia, WA 98506

    View on Map
    • Office properties & Spaces
    • 8,447 SF
    • 0.63 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Elizabeth A. Schick, PT / Physician
    • Knust Katie L / Family Counselor / Doctor
    • Holistic Mystic Mermaid Wellness / Physician
    • Astrid Robertson / Counselor / Practitioner Service Location
    • Laura Y. Gustavson, MA / Psychotherapist

    Property Details for 3912 Martin Way

    Lot size
    0.63 lot acres
    Property size
    8,447 SF
    Property type
    Office properties & Spaces
    Property subtype
    Land

    Description

    This exceptional Olympia commercial property presents a unique investment opportunity. Located at 3912 Martin Wy E, 98506, this 8,447 square foot office building sits on a 0.63-acre lot and offers significant potential. Built in 2006, the property features four individual suites, easily adaptable for a single user or multiple tenants. Suite A boasts 3,022 square feet, Suite B offers 2,155 square feet, Suite C provides 2,512 square feet, and Suite D comprises 758 square feet. This is the first time this building has been offered for sale separately from the adjacent property, presenting a rare chance to acquire a standalone asset. A planned lot split will result in 42 dedicated parking spaces for this building, ensuring ample parking for employees and clients. The asking price is $1,950,000. This property is ideally suited for an owner-user seeking a substantial and well-located office space in Thurston County, Washington. The strategic location in Olympia, WA, offers easy access to major transportation routes and amenities. This is a remarkable opportunity to acquire a versatile and well-maintained commercial property in a thriving market. Don't miss this chance to own a piece of Olympia's commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.839
    Latitude
    47.0484

    Comparable in this City

    • Value Estimation by Request
      19.55 Acres

      607 Sleater Kinney Rd

      Land • 19.55 Acres
      607 Sleater Kinney Rd, Lacey, WA 98506
      View Details
    • Value Estimation
      $2,480,000
      21,252 SF

      112 Henry NE St

      OFFICE (GENERAL) • 21,252 SF
      112 Henry NE St, Olympia, WA 98506-4470
      View Details
    • Value Estimation by Request
      6,140 SF

      3624 Ensign Rd

      Medical Office Space • 6,140 SF
      3624 Ensign Rd, Olympia, WA 98506
      View Details
    • Value Estimation by Request
      4,970 SF

      3503 Bay NE Rd

      OFFICE (GENERAL) • 4,970 SF
      3503 Bay NE Rd, Olympia, WA 98506-3080
      View Details
    • Value Estimation by Request
      338 SF

      2300 Friendly Grv NE Rd

      OFFICE (GENERAL) • 338 SF
      2300 Friendly Grv NE Rd, Olympia, WA 98506-3508
      View Details
    • Value Estimation
      $665,000
      5,924 SF

      3444 Martin E Way

      OFFICE (GENERAL) • 5,924 SF
      3444 Martin E Way, Olympia, WA 98506-5034
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Olympia Land Parcel For Sale

      Lightly forested 0.66 acre land parcel in Olympia, Washington.
      1506 Ann St NE, Olympia, WA 98506
      View Details
    • $225,000

      2.2+ Acre Treed Lot

      Lightly treed 2.2+ acre lot with potential mountain view.
      4510 Sleater Kinney Rd Northeast, Olympia, WA 98506
      View Details
    • Contact for pricing

      Land with Potential Mountain View

      2.2+ acre lot near I-5, schools, restaurants, and shopping.
      4510 Sleater Kinney Rd NE, Olympia, WA 98506
      View Details
    • Contact for pricing
      16,468 SF

      Two Buildings on Martin Way

      Two commercial buildings near Providence Hospital with investment potential.
      3910-3912 Martin Way East, Lacey, WA 98506
      View Details
    • $3,950,000

      Two-Building Commercial Property For Sale

      Two high-quality buildings near Providence Hospital with investment income potential.
      3910 Martin Way E, Olympia, WA 98506
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mixed-Use Building on Martin Way

      Mixed-use building with ample parking and easy access.
      2600 Martin Way E, Olympia, WA 98506
      View Details
    • Contact for pricing
      2,526 SF

      Medical Office Near Providence Hospital

      Move-in ready medical office space adjacent to Providence St. Peter.
      615 Lilly Rd NE, Olympia, WA 98506
      View Details
    • $4,095 /Mo
      4,095 SF

      Furnished Office Space Available

      Furnished office space with easy access and ample parking.
      3905 Martin Way E, Olympia, WA 98506
      View Details
    • $10,370 /Mo
      6,222 SF

      Medical Office Near Providence Hospital

      6,222 SF medical office building across from Providence St. Peter Hospital.
      3610 Ensign Rd NE, Olympia, WA 98506
      View Details
    • Contact for pricing
      1,185 SF

      Functional Commercial Space in Olympia

      Versatile 1185 SF space ideal for office, wellness, or creative use.
      1211 4Th Ave E, Olympia, WA 98506
      View Details
    • Contact for pricing
      1,896 SF

      Medical/Office Space Near St. Peter

      Former physician's office with good access and parking.
      703 Lilly Rd NE, Olympia, WA 98506
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3912 Martin Way
    Olympia, WA 98506
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3912 Martin Way, Olympia, WA, 98506
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!