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Investment Highlights

  • Located in Olympia’s downtown core with strong pedestrian and commuter activity
  • Surrounded by dining, cultural attractions, and governmental offices that drive steady traffic
  • Positioned within a thriving downtown redevelopment environment enhancing property value
  • Excellent retail frontage and visibility along a prominent city corridor
  • Immediate access to Interstate 5 linking to greater Puget Sound metropolitan areas
  • Flexible usability for retail, professional, or specialty service concepts

Executive Summary

Prime investment opportunity! This commercial storefront property in the heart of Downtown Olympia presents a unique purchasing opportunity in a vibrant business corridor. Positioned along State Avenue NE, the location offers optimal visibility and foot traffic, surrounded by a blend of local retailers, dining establishments, and professional services. The site enjoys proximity to major arterials offering access to Interstate 5, ensuring connectivity to regional markets and increased customer reach. Olympia, the state capital, supports a robust employment base with steady population growth, enhancing long-term investment prospects for owner-users or investors seeking a high-demand urban setting. Its central placement within government, hospitality, and cultural districts bolsters tenant appeal and broadens potential usage scenarios including boutique retail, service operations, or specialty concepts.
Develop into a lasting asset with reliable appreciation potential given its downtown positioning and established pedestrian-friendly environment. The location benefits from city infrastructure investments and sustained economic activity driven by legislative operations and local commerce.

Property Facts

Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront
Building Size
3,700 SF
Building Class
C
Year Built
1946
Price
$736,000
Price Per SF
$198.92
Tenancy
Single
Building Height
1 Story
Building FAR
0.95
Lot Size
0.09 AC
Opportunity Zone
Yes
Zoning
DB
Frontage
34’ on State Ave NE

Amenities

  • Fenced Lot
  • Mezzanine
  • Signage
  • Air Conditioning
Very walkable
80/100
Exceptionally drivable
100/100
Strong public transit
80/100
Moderately bikeable
70/100

Nearby Major Retailers

U.S. Bank
Bank of America
CrossFit
Jazzercise
Columbia Bank
Chase Bank
Anthony's Hearthfire Grill

Property Taxes

Property Taxes

Parcel Number
78501200600
Land Assessment
$229,800
Improvements Assessment
$105,300
Total Assessment
$335,100
  • Listing ID: 40264040

  • Date on Market: 4/23/2026

  • Last Updated:

  • Address: 116-118 State Ave NE, Olympia, WA 98501

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