118 Cherry NE St Olympia, WA 98501-6937
Discover the Spoon Building, a meticulously renovated 6,502 square foot mixed-use property located at 118 Cherry St NE, Olympia, WA 98501. This single-story, 1923 building underwent a complete renovation in 2024, presenting a blank canvas for a variety of commercial ventures. The property boasts a prime location in Olympia's Downtown Business District (DB zoning), benefiting from high visibility and traffic counts on 4th Ave and State Ave. With separate entrances and a warehouse/garage door bay, the space is highly versatile, suitable for single or multi-tenant occupancy. Imagine a restaurant, brewery, or a combination of retail, office, and dining spaces. The 0.15-acre lot offers ample space, and the building features one dock-high door. The asking price is $995,000. Currently vacant, the property is ready for immediate occupancy starting July 8, 2024. This redevelopment opportunity presents a unique blend of location, flexibility, and potential for significant return on investment. The property's Class B designation reflects its recent renovation and modern appeal. This is an exceptional chance to establish a thriving business in a vibrant downtown setting. The property's APN is 78200400100.
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Rocket Restorations Auto Repair Shop
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
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