704 4th E Ave Olympia, WA 98506-3920
This exceptional 800-square-foot retail property, located at 704 4th Ave E in Olympia, Washington (98506), presents a unique investment opportunity. Currently configured as a bar and restaurant, this single-story building boasts a rich history and charming character. The interior features an original mahogany back bar and cooler, stunning woodwork, and tables and chairs imported from a Welsh tavern. The space includes a small kitchen equipped with a hood, and the front bar is pre-wired for espresso machines and an ice machine. A recently replaced roof (2 years old) ensures peace of mind. The property is zoned DB and has an APN of 78201201000. The asking price is $666,000, translating to $832.50 per square foot. Conveniently located in downtown Olympia, the building also offers access to a parking lot via an external staircase, providing potential for expansion or additional uses. This turnkey operation is ready for a new owner to capitalize on its established charm and prime location. The net rentable square footage is 800 square feet. This is a rare chance to acquire a piece of Olympia's history with significant potential for future growth. The property's unique features and central location make it an ideal investment for a discerning buyer.
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
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.