Property profile & analytics
123 4Th Ave W Olympia, WA 98501
- Retail space
- 161,171 SF
- 0.65 lot acres
Value Estimations
Cap Rate Potential
Location Intelligence
Property ID
US90-0561454
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Current Use by Public Records
- 123 4th Apartments / Apartment Building
Property Details for 123 4Th Ave W
- Year built
- 2015
- Construction
- CONCRETE
- Lot size
- 0.65 lot acres
- Property size
- 161,171 SF
- Property type
- Retail space
- APN
- 7850-05-00100
- APU
- 78500500100
Description
This exceptional seven-story, 161,171 square foot building, constructed in 2015, offers a unique opportunity in Olympia's CBA submarket. Located at 123 4th Avenue in Thurston County, this multi-tenant property is zoned DB and sits on a 0.65-acre lot. The building features a single structure with multiple commercial spaces available, ideal for a variety of businesses. Currently, there are three spaces available for lease: one 1,500 square foot space on 4th Avenue, one 1,500 square foot space on Columbia Street, and a 2,000 square foot space on 5th Avenue. Spaces range from a minimum of 1,500 square feet to a maximum contiguous space of 5,000 square feet, with 5,000 square feet currently vacant. The property is situated within a thriving mixed-use development, making it an excellent location for businesses seeking high visibility and foot traffic. While ideal for a variety of uses, including coffee shops, taprooms, delis, and convenience stores, it's important to note that type 1 hoods are not available. Tenant improvements are negotiable, providing flexibility for customizing the space to meet specific business needs. The property's APN is 78500500100. This is a rare opportunity to secure prime commercial space in a desirable location.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $32,425,000
- 6.5%
- $29,930,000
- 7%
- $27,790,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $19,750,000
Market price range: $7.23M - $28.0M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $39,830,000 Current use
- COMMERCIAL (GENERAL)
- $40,760,000 Change: +2% Conversion: Easy
- OFFICE BUILDING
- $38,530,000 Change: -3% Conversion: Easy
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Olympia
- County
- Thurston
- State
- Washington
- Longitude
- -122.902
- Latitude
- 47.0444
- CBSA code
- 36500
- CBSA name
- OLYMPIA, WA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$117,951
$1,196,100
$38,856,900
$40,053,000
-
$1,196,100
$38,856,900
$40,053,000
