Log In/Sign Up
Your email has been sent.
1015 4th Ave SW 6,000 SF 100% Leased Office Building Olympia, WA 98502 $850,000 ($141.67/SF) 7.53% 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
NOI based on 2025 actuals year-to-date and extended through the end of year.
Two parcels - 68601100100, 68601100200
NOI based on 2025 actuals year-to-date and extended through the end of year.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$117,914
|
$19.31
|
| Other Income |
$2,400
|
$0.39
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$120,314
|
$19.71
|
| Taxes |
$7,801
|
$1.28
|
| Operating Expenses |
$48,515
|
$7.95
|
| Total Expenses |
$56,316
|
$9.22
|
| Net Operating Income |
$63,998
|
$10.48
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $117,914 |
| Annual Per SF | $19.31 |
| Other Income | |
|---|---|
| Annual | $2,400 |
| Annual Per SF | $0.39 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $120,314 |
| Annual Per SF | $19.71 |
| Taxes | |
|---|---|
| Annual | $7,801 |
| Annual Per SF | $1.28 |
| Operating Expenses | |
|---|---|
| Annual | $48,515 |
| Annual Per SF | $7.95 |
| Total Expenses | |
|---|---|
| Annual | $56,316 |
| Annual Per SF | $9.22 |
| Net Operating Income | |
|---|---|
| Annual | $63,998 |
| Annual Per SF | $10.48 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
6,000 SF
Building Class
C
Year Built
1962
Price
$850,000
Price Per SF
$141.67
Cap Rate
7.53%
NOI
$63,998
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,000 SF
Slab To Slab
10’
Building FAR
0.41
Lot Size
0.34 AC
Zoning
PO/RM - Professional Office
Parking
25 Spaces (4.17 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Ziegler Chiropractic
- Professional, Scientific, and Technical Services
- -
- -
- Jun 2029
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Ziegler Chiropractic | Professional, Scientific, and Technical Services | - | - | Jun 2029 |
Walk Score®
Very Walkable (70)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $743,800 (2024) | |
| Land Assessment | $167,800 (2024) | Annual Taxes | $7,801 ($1.30/SF) |
| Improvements Assessment | $576,000 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$167,800 (2024)
Improvements Assessment
$576,000 (2024)
Total Assessment
$743,800 (2024)
Annual Taxes
$7,801 ($1.30/SF)
Tax Year
2025
1 of 9
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
1015 4th Ave SW
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.