2401 Bristol Ct SW
Olympia, WA 98502
Bldg D · Office Property For Sale

For Sale: 2401 Bristol Court SW, Olympia, WA Building D Bristol Court Condo Association Commercial Office Building Total of 2 suites broken down as follows: Suites 101 & 102 combined purchase price is $698,000. Terrific Olympia location near the Thurston County Courthouse and Olympia Hotel, Highway 101 and Interstate 5. These two nicely built out suites were extended one into the other in 2012 and total 3,008 square feet. They include 10 offices, a storage/work room, full kitchen, conference room, server closet, communications cabinet inside copier/printer workroom, and a storage closet. We have owned these units since 2006 and they have never been vacant more than a few weeks. Tenants have included an investment firm, trust company, insurance agents, psychotherapists, lawyers and massage therapists. We’ve had single tenants as well as individual offices within the suites sublet as shared professional office space(s). Our current tenant occupies both units and plans to move at the end of 2023. This provides an opportunity for an owner occupant business, full rental for investment income, or combined owner occupant with sublet individual offices like we used to do. It’s time for us to move on, and sadly requires letting go of the cash flow we’ve enjoyed all these years. Current combined leases total $68,160 annually with net operating income of $49,575. This amounts to a 7.10 cap rate. Cost breakdown available upon request. Bristol Court Condo Association is a complex of four buildings of various sizes. Ample parking, and total complex built out office space of 20,000 square feet. Association dues cover all exterior maintenance and signage. Unit owners cover their own interior details and maintenance, and HVAC repairs. Routine HVAC inspections and cleaning covered by the Association. Seller currently serves as President of the Association. Association members are a healthy and active group of really great people. Seller can be reached at 360-701-9193 Footnote: This sale could be combined with Suite D-103, See additional listing.