Olympia, WA Retail Property For Sale

Excellent opportunity to own one of the first brick buildings in Downtown Olympia, the birthplace of the official seal of Washington State. With second-floor office space, ground-floor retail, and a secure vault, this building offers a multitude of opportunities for an owner/user, investor, or possible multi-family conversion. The building has historically featured businesses such as the Talcott Jewelers, Lawmakers, Legislators, state Representatives, and most recently, Old Town Bicycle. They are still under contract with a Lease Agreement that expires March 31, 2022.

THE OFFERING provides the opportunity to acquire a 4,916 SF retail center leased to a

Starbucks drive-thru and Jersey Mikes. Both Tenants have operated at the property

since construction. The Property is located directly off Interstate-5 within a major dailyneeds

retail corridor within close proximity to numerous grocery stores, schools, national

retailers including Hobby Lobby and Tractor Supply immediately adjacent to the property.

High-density surrounding residential and higher education – St. Martin’s University –

provide strong daily draw to the property.

Property Highlights:

• The Center is anchored by HomeGoods, Ashley Furniture, and Kaiser Permanente providing solid tenant mix and draw

• The Center has a compound annual growth rate of 12.56% over the initial 10-year hold

• An LOI is being finalized with a national retail anchor, which will expedite further lease-up and create significant draw

• Rare opportunity to acquire a site of over 15 acres within a regional Puget Sound trade area

• Ability to reposition the Center by capitalizing on robust anchor interest

• The Center is 54% occupied, with 82,895 SF available for lease, providing an opportunity to significantly increase income upon stabilization

Permit ready! Great opportunity to redevelop an iconic building in downtown Olympia! Approved plans in hand and ready for permits to be pulled. Don't miss this great opportunity!

Perfect Martin way location, close to College road and I-5. Very high car count location, near multiple hotels and other amenities.

Investment Opportunity in Prime Location on Pacific Ave! Long time tenant is operating a Stove & BBQ retail store. Spacious apartment upstairs with lots of windows/light and separate entrance in the back features 3 rooms (small offices or bedrooms), spacious kitchen, 3/4 bathroom, storage area, gas stove, and living area or large conference area at the center. Tax iD #: 68903000300

Conveniently placed mid-block on 4th Ave between Cherry St and Jefferson St, 509 4th Avenue East sits one block away from City Hall and directly in the heart of Olympia’s downtown area. Built in 1925, this building benefits from 58% occupancy with the opportunity for a new tenant to occupy the remainder of the space. With a walk score of 91, the 509 4th Avenue East property offers investors a stable income stream via long-term occupancy together with the opportunity to occupy the remaining 6,100 square feet. This unique owner/user opportunity provides an excellent location in the downtown core of rapidly growing Olympia.