1015 4th Ave SW 6,105 SF 100% Leased Office Building Olympia, WA 98502 $990,000 ($162.16/SF) 7.97% Cap Rate
INVESTMENT HIGHLIGHTS
- Off street parking
- Close to service (shopping, offices, and residential)
EXECUTIVE SUMMARY
This mid-century modern building features a diverse mix of tenants, including medical, dental, office, and hair salon businesses. The property is currently fully occupied; however, future availability could allow for owner/user occupancy. The site is attractively landscaped and offers 27 surface parking stalls. Located in a desirable neighborhood, the setting is well-suited for personal service businesses.
Two parcels - 68601100100, 68601100200
Two parcels - 68601100100, 68601100200
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$115,597
|
$18.93
|
| Other Income |
$2,422
|
$0.40
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$118,019
|
$19.33
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$39,105
|
$6.41
|
| Net Operating Income |
$78,914
|
$12.93
|
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
6,105 SF
Building Class
C
Year Built
1962
Price
$990,000
Price Per SF
$162.16
Cap Rate
7.97%
NOI
$78,914
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,053 SF
Slab To Slab
10’
Building FAR
0.41
Lot Size
0.34 AC
Zoning
PO/RM - Professional Office
Parking
25 Spaces (4.1 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- A Family Dental Clinic
- Health Care and Social Assistance
- -
- -
- -
- Beachwater Health
- Health Care and Social Assistance
- -
- -
- -
- Blue Water Health Llc
- Health Care and Social Assistance
- -
- -
- -
- Center For Traditional Med
- Health Care and Social Assistance
- -
- -
- -
- Fleshworks Tattoo Studio
- Services
- -
- -
- -
- Northern Highlights
- Services
- -
- -
- -
- Ward Dental
- -
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| A Family Dental Clinic | Health Care and Social Assistance | - | - | - | ||
| Beachwater Health | Health Care and Social Assistance | - | - | - | ||
| Blue Water Health Llc | Health Care and Social Assistance | - | - | - | ||
| Center For Traditional Med | Health Care and Social Assistance | - | - | - | ||
| Fleshworks Tattoo Studio | Services | - | - | - | ||
| Northern Highlights | Services | - | - | - | ||
| Ward Dental | - | - | - | - |
Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $576,000 (2024) | |
| Land Assessment | $167,800 (2024) | Total Assessment | $743,800 (2024) |
