120 4Th Ave Olympia, WA 98501
- Grocery and convenience stores
- 6,623 SF
- 0.15 lot acres
Current Use by Public Records
- Odds and Ends / Gift Shop
Property Details for 120 4Th Ave
- Year built
- 1920
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.15 lot acres
- Property size
- 6,623 SF
- Property type
- Grocery and convenience stores
- APN
- 7850-13-00500
- APU
- 78501300500
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Olympia
- County
- Thurston
- State
- Washington
- Longitude
- -122.901
- Latitude
- 47.0452
- CBSA code
- 36500
- CBSA name
- OLYMPIA, WA METROPOLITAN STATISTICAL AREA
