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Property profile & analytics
FOR LEASE
Retail space
3700 Martin Way E, Olympia, WA 98506
Entity Owned
7-yr Hold
Free & Clear
Property ID
US90-1113122
For Lease
$15 SF/Yr
3700 Martin Way E, Olympia, WA 98506
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Property summary
AI-generated overview
Martin Way Plaza offers a unique opportunity to lease 5,055 square feet of executive office space in a highly visible Olympia, Washington location. Situated at 3700 Martin Way E, zip code 98506, this property is part of a larger commercial building totaling 19,248 square feet. The space is currently vacant and ready for immediate occupancy. The building is classified as both retail and office space, making it suitable for a variety of businesses. The property boasts ample parking, a significant advantage for employees and clients. This single-suite space within the larger Martin Way Plaza complex presents a chance to establish a strong presence in a thriving Thurston County market. The address offers excellent visibility and accessibility, making it an ideal location for businesses seeking high foot traffic and convenient access for customers. The space's size allows for flexible configuration to meet diverse business needs. This is an exceptional opportunity to secure a prominent location in a well-established commercial center. The property is located in Olympia, Washington, within Thurston County.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
19,248 SF
Lot
1.55 ac (67,518 SF)
APN
1181-72-31801
UPID
US90-1113122
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Martin Way Vision Center Contact Lenses Supplier Ophthalmologist
-
Dr. Tyler M. Nixon, DO Physician
-
Dry Tikes & Wet Wipes Public Health Department Health
-
PNW Ryuei Ryu Ryuhou Kan Dojo Training Center Sports School
-
Treasure Chest Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.58M
Comparable Approach
Comparable
$2.01M
Blend (final)
Blend
$3.25M
Owner & transaction history
Martin Way Plaza LLC · 7 yrs held
Martin Way Plaza LLC
since 2018
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Olympia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Olympia submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,870,000
6.5%
$3,575,000
7%
$3,320,000
Blend value · Realmo final
$3.25M
Range $2.92M – $3.57M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$169 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$35,178
Tax year 2023
Assessed value
$3,576,700
Assessed 2022
Previous assessed
$2,320,500
+54.1% YoY
Effective rate
0.98%
On assessed value
Assessed land
$711,700
Assessed improvement
$2,865,000
Land market value
$711,700
Improvement market value
$2,865,000
Total market value
$3,576,700
Applied tax rate
114.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
19,248 SF
Lot
1.55 ac (67,518 SF)
APN
1181-72-31801
UPID
US90-1113122
Jurisdiction
THURSTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
1.55 ac
Current owner
From public records · entity-resolved
Martin Way Plaza LLC
Entity
Free & Clear · 7 yrs held
Mailing address
8407 VASHON DR NE, LACEY, WA 98516-1368
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 4, 2018
—
Martin Way Plaza LLC
Strodahl,gary
Quit Claim Deed
related
—
Jan 5, 2001
$2,217,000
Gary Stordahl
Steadman Trust
Grant Deed
$631,808 · Heritage Savings Bank Fsb
Jan 30, 1989
$1,050,000
Steadman Family Rev Tst
Unknown
Grant Deed
—
—
—
Hai V B V Pham
—
Deed Of Trust
related
$100,739 · Springleaf Financial Svcs INC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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