1225 Ruddell Rd SE
Lacey, WA 98503
St Martins Center · Retail Property For Sale

Located just east of Washington’s State capitol, Olympia, the city of Lacey is a quiet, safe suburban town with a population of about 50,000. Lacey is located in Thurston County about 50 miles south of Seattle and 120 miles north of Portland. Quiet residential areas, clean streets, low crime rate, a first-class fire station and a well-kept City Hall, all add to Lacey’s appeal and livability.  The subject property is a 35,942-square foot Flex-Retail Center located in Lacey (Saint Martin’s Center). It is located in direct proximity to Saint Martin’s University on Ruddell Rd SE between Lacey Blvd SE and Pacific Ave SE. This investment offers a value-add opportunity for investors that are looking to continue the lease-up and increase the below market rents while collecting an above market return. The property is priced based on current income which presents an investor with the opportunity to push returns well above market by leasing up the two remaining vacant units . The property is in great condition with recent investment made into a new roof.