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2607 Martin Building 2607 Martin Way E 15,579 SF 88% Leased Retail Building Olympia, WA 98506 $1,300,000 ($83.45/SF) 7.92% Cap Rate
INVESTMENT HIGHLIGHTS
- Highly Visible Corner on busy stretch of Martin Way
- Furnished Suite 102
- Ample Parking
EXECUTIVE SUMMARY
Investment Property on Martin Way – 87% Occupied with Income Stability and Growth Potential
Two-story office building on a high-visibility corner lot along Martin Way, featuring tall monument signage, ample parking, and an auxiliary parking lot for added convenience. Located just minutes from I-5 at Pacific Avenue Exit 107, this property offers excellent accessibility for tenants and visitors. Stabilized Rent income of $212,018.
Currently 87% occupied, the second floor is fully leased on long-term agreements, while the ground floor includes two tenants and one vacant office suite—ideal for an owner-user or additional leasing upside.
Partial seller financing is available, making this an attractive opportunity for investors seeking flexible terms.
The site is in the testing phase of a Department of Ecology cleanup (Site ID No. 15168) for PCE in soil/groundwater, with monitoring underway.
Two-story office building on a high-visibility corner lot along Martin Way, featuring tall monument signage, ample parking, and an auxiliary parking lot for added convenience. Located just minutes from I-5 at Pacific Avenue Exit 107, this property offers excellent accessibility for tenants and visitors. Stabilized Rent income of $212,018.
Currently 87% occupied, the second floor is fully leased on long-term agreements, while the ground floor includes two tenants and one vacant office suite—ideal for an owner-user or additional leasing upside.
Partial seller financing is available, making this an attractive opportunity for investors seeking flexible terms.
The site is in the testing phase of a Department of Ecology cleanup (Site ID No. 15168) for PCE in soil/groundwater, with monitoring underway.
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
15,579 SF
Building Class
C
Year Built
1976
Price
$1,300,000
Price Per SF
$83.45
Cap Rate
7.92%
NOI
$102,959
Percent Leased
88%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.41
Lot Size
0.88 AC
Zoning
HDC-3, HDC-4 - HDC-3, HDC-4 (High-Density Corridor)
Parking
65 Spaces (4.17 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
- Storage Space
- Air Conditioning
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- RROC, LLC
- -
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
- United Training Center
- Services
- -
-
$9.99
- -
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| RROC, LLC | - | - | $9.99 | Lorem Ipsum | Jan 0000 | |
| United Training Center | Services | - | $9.99 | - | Jan 0000 |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Extensively updated ground-level office suite featuring custom modular workstations, two private modular offices, upgraded lighting, and robust server/data wiring throughout. Includes a full kitchen—ideal for tech, creative, or professional services teams seeking a move-in-ready space.
| Space | Size | Space Use | Position | Available |
| 102 | 1,950 SF | Office | - | Now |
102
| Size |
| 1,950 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
1 of 17
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
102
| Size | 1,950 SF |
| Space Use | Office |
| Position | - |
| Available | Now |
Extensively updated ground-level office suite featuring custom modular workstations, two private modular offices, upgraded lighting, and robust server/data wiring throughout. Includes a full kitchen—ideal for tech, creative, or professional services teams seeking a move-in-ready space.
Bike Score®
Very Bikeable (80)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 11818320900 | Total Assessment | $2,326,700 (2024) |
| Land Assessment | $510,800 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,815,900 (2024) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
11818320900
Land Assessment
$510,800 (2024)
Improvements Assessment
$1,815,900 (2024)
Total Assessment
$2,326,700 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
1 of 7
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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2607 Martin Building | 2607 Martin Way E
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