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2500 Capitol Mall Dr SW
Olympia, WA 98502
Applebee's · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Applebee’s has successfully operated at this site for 20 years, underscoring proven location strength and sustained tenant commitment
- Applebee’s has recently renewed their lease for an additional 5 years, demonstrating ongoing commitment to the site
- Applebee’s is a leading national casual dining brand with a strong reputation for operational stability
- The property features a NNN lease that provides passive income with zero landlord responsibilities
- #16 restaurant location in Washington State and is within the top 12% of Applebee’s restaurants nationwide in terms of total visits (Placer.ai)
- Located in Olympia’s dominant retail trade area at Capital Mall, surrounded by high-volume traffic generators and notable national retailers
EXECUTIVE SUMMARY
The offering presents a well-established Applebee’s restaurant located at Capital Mall in Olympia, WA. The property benefits from a highly visible pad position adjacent to Capital Mall, the region’s premier shopping destination, which attracts over 6.5 million annual visits (Placer.ai). Applebee’s has operated at this site for 20 years, demonstrating proven performance and tenant stability. The property features a NNN lease and Applebee’s recently extended their lease for 5 years providing approximately 6 years of lease term remaining, providing passive, management-free income with no landlord obligations. This asset presents investors a compelling combination of long-term tenant performance, passive cash flow, and a prime regional location, providing dependable income and stability within Olympia’s most dynamic retail hub.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,997 SF
Building Class
B
Year Built
1979
Price
$2,200,000
Price Per SF
$440.26
Cap Rate
7%
NOI
$154,000
Tenancy
Single
Building Height
1 Story
Zoning
HDC-4
Frontage
67’ on Capitol Mall Dr SW
AMENITIES
- Bus Line
- Signage
PROPERTY TAXES
| Parcel Number | 12816430300 | Improvements Assessment | $47,249,200 |
| Land Assessment | $24,505,500 | Total Assessment | $71,754,700 |
PROPERTY TAXES
Parcel Number
12816430300
Land Assessment
$24,505,500
Improvements Assessment
$47,249,200
Total Assessment
$71,754,700
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