Lacey Urban Center 7131-7269 Martin Way E
44,701 SF 100% Leased Retail Building Olympia, WA 98516 $11,500,000 ($257.26/SF) 5.09% Cap Rate
EXECUTIVE SUMMARY
Fully occupied retail property with great mix of tenants (restaurants, professional offices, medical offices, coffee shop, bakery, retail, facial/massage, and laundry facility). 4.66 Acres lot with spacious parking with great street exposure and prominent businesses as tenants.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
44,701 SF
Building Class
B
Year Built/Renovated
1959/2006
Price
$11,500,000
Price Per SF
$257.26
Cap Rate
5.09%
NOI
$585,236
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
4.66 AC
Zoning
MHDC
Parking
214 Spaces (4.79 Spaces per 1,000 SF Leased)
Frontage
550’ on Martin Way E
AMENITIES
- Bus Line
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 78801200000 | Improvements Assessment | $4,253,200 |
| Land Assessment | $2,430,400 | Total Assessment | $6,683,600 |
