Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3702 Ensign Rd Olympia, WA 98506

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3702 Ensign Rd Olympia, WA 98506

    View on Map
    • Medical Office Space
    Off-Market
    Property ID
    US90-0855794
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • James R. Wilder, DMD / Dental Office
    • Sunde Family Dental / Dental Office
    • Kern Family Dental, Stephen B Kern, D.M.D. / Dental Office

    Property Details for 3702 Ensign Rd

    Property type
    Medical Office Space

    Description

    This exceptional medical office building, situated just off Lilly Road in Olympia, Thurston County, offers two available spaces ideal for a variety of medical practices. The main space, a 1,700 square foot former dental clinic, is located on the first floor and boasts a modern layout ready for immediate occupancy. A second, lower-level suite provides approximately 1,200 square feet of flexible space, perfectly suited for uses such as a medical lab, billing office, massage therapy practice, acupuncture clinic, or similar complementary healthcare services. The building features a recently renovated exterior, enhancing its curb appeal and professional image. Ample parking is available for patients and staff, ensuring convenient access. The multiple tenancy structure provides a collaborative and supportive environment for healthcare professionals. This prime location offers excellent visibility and accessibility, making it an attractive opportunity for expanding or establishing a medical practice in a thriving community. The building's modern amenities and convenient location combine to create an exceptional opportunity for healthcare providers seeking a well-maintained and strategically located office space. The flexible floor plans allow for customization to meet the specific needs of various medical specialties. Don't miss this chance to secure your ideal medical office space in Olympia.

    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
    -122.8420387
    Latitude
    47.0511057

    Comparable in this City

    • $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
      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
    • Contact for pricing
      1,362 SF

      Medical Office Space Near Hospital

      Second-floor office space near Providence St. Peter's Medical Center.
      3425 Ensign Rd NE, Olympia, WA 98506
      View Details
    • $3,519 /Mo
      1,362 SF

      Medical Office Space For Rent

      Medical office space near Providence St. Peter's Medical Center.
      3425 Ensign Rd NE, Olympia, WA 98506
      View Details
    • $1,949 /Mo
      1,350 SF

      Olympia Office/Medical Space for Rent

      Accessible office or medical space with versatile floorplan in Olympia.
      2600 Martin Way E, Olympia, WA 98506
      View Details
    • $8,841 /Mo
      2,526 SF

      Medical Office Near St. Peter Hospital

      Move-in ready medical office space adjacent to Providence St. Peter.
      615 Lilly Rd NE, Olympia, WA 98506
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,222 SF

      Medical Office Building Near 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
      4,648 SF

      Turnkey Veterinary Clinic in Olympia

      Turnkey veterinary clinic in downtown Olympia core with ample parking.
      1025 State Ave NE, Olympia, WA 98506
      View Details
    • $815,000
      3,562 SF

      Olympia Medical Building with Income

      Two-unit medical building with existing tenant and vacant suite.
      3641 Ensign Rd NE, Olympia, 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
    • Contact for pricing

      Class A Medical Building

      Medical building with additional lots for parking or development.
      115 New View Ct NE, Olympia, WA 98506
      View Details
    • Contact for pricing

      Olympia Commercial Space For Sale

      Versatile commercial space suitable for office, wellness, or creative use.
      1211 4Th Ave E, Olympia, WA 98506
      View Details

    Similar Nearby for Lease

    • $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
      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
    • 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
    • Contact for pricing
      2,723 SF

      Olympia Office/Clinic Building For Rent

      Updated office/clinic building with ample parking and flexible space.
      300 Lilly Rd NE, Olympia, WA 98506
      View Details
    • $4,073 /Mo
      2,723 SF

      Olympia Office/Clinic Building For Rent

      Updated office/clinic building with ample parking and flexible space.
      300 Lilly Rd NE, Olympia, WA 98506
      View Details
    • $3,950 /Mo
      1,896 SF

      Medical Office Space For Rent

      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.
    3702 Ensign Rd
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!