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400 State - 400 State Ave NE 0.45 Acres of Commercial Land Offered at $1,199,000 in Olympia, WA 98501

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Investment Highlights

Significant Redevelopment Potential
Phase II Environmental Site Assessment completed with favorable results.

Opportunity Zone

Executive Summary

This vacant commercial lot has significant redevelopment potential and is strategically positioned in a highly desirable area. The .45 acres offer a variety of uses, such as retail, multifamily, or mixed-use. Zoned Urban Waterfront. It is situated within an Opportunity Zone adjacent to the Downtown InterCity Transit Station and can be easily accessed from Adams Street NE or State Ave NE.
Phase II Environmental Site Assessment completed with favorable results.
Combine with 416 State Ave (.29 Acres) CBA Listing #43357476.

400-State-Ave-NE_flyer

Property Facts

Price	$1,199,000	Proposed Use	Commercial Mixed Use Multifamily
Sale Type	Owner User	Total Lot Size	0.45 AC
No. Lots	1	Cross Streets	Adams Street NE
Property Type	Land	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype	Commercial
Zoning	Urban Waterfront - Urban Waterfront

Price	$1,199,000
Sale Type	Owner User
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Commercial Mixed Use Multifamily
Total Lot Size	0.45 AC
Cross Streets	Adams Street NE
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	Urban Waterfront - Urban Waterfront

1 Lot Available

Lot

Price	$1,199,000	Lot Size	0.45 AC
Price Per AC	$2,664,444.44

Price	$1,199,000
Price Per AC	$2,664,444.44
Lot Size	0.45 AC

Description

This vacant commercial lot has significant redevelopment potential and is strategically positioned in a highly desirable area. The .45 acres offer a variety of uses, such as retail, multifamily, or mixed-use. Zoned Urban Waterfront. It is situated within an Opportunity Zone adjacent to the Downtown InterCity Transit Station and can be easily accessed from Adams Street NE or State Ave NE. Phase II Environmental Site Assessment completed with favorable results.

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Aerial
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Fairly walkable

50/100

Very drivable

80/100

Good public transit

70/100

Moderately bikeable

70/100

Source: Local Logic^®

Property Taxes

Parcel Number	78504200100	Improvements Assessment	$0
Land Assessment	$617,700	Total Assessment	$617,700

Property Taxes

Parcel Number

78504200100

Land Assessment

$617,700

Improvements Assessment

Total Assessment

$617,700

(360) 352-7822

Contact

Danielle Rants
The Rants Group

Listing ID: 35136934
Date on Market: 3/14/2025
Last Updated:
Address: 400 State, Olympia, WA 98501

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400 State - 400 State Ave NE

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