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Rainier View Industrial Park 6221 Rich Rd SE 66,752 SF 85% Leased Industrial Building Olympia, WA 98501 $13,050,000 ($195.50/SF) 8.15% Cap Rate
INVESTMENT HIGHLIGHTS
- 85% Leased Industrial Park With Strong Leasing Momentum
- Management and Leasing Team Available
- Annual Rent Increases | Income Tax Free State
- $1.4 Million in Property Renovations and Roof Replacements
- NNN Leases Allow for 100%+ Expense Recapture | $2+ Million in Tax Savings Year One With Bonus Depreciation
- Proposed Cell Tower Upside | No Industrial Park Competition
EXECUTIVE SUMMARY
Marcus & Millichap's Brown Retail Group has been selected to exclusively market for sale Rainier View Industrial Park, a newly renovated industrial park located in Olympia, WA. The property demonstrates strong operational momentum at 85% leased with sixteen new leases executed in 2024-2025 and multiple leases pending. Over $2M worth of extensive renovations were completed in 2024-2025 and nearly all tenants operate on truly NNN leases with 3%-5% annual rent increases, providing a fully renovated and turnkey property with strong tenant demand and extremely limited competition. An additional benefit, a cost segregation study projects over $2 million in first-year bonus depreciation.
PROPERTY FACTS
| Price | $13,050,000 | Building Class | C |
| Price Per SF | $195.50 | Lot Size | 5.72 AC |
| Sale Type | Investment NNN | Rentable Building Area | 66,752 SF |
| Cap Rate | 8.15% | No. Stories | 1 |
| Property Type | Industrial | Year Built/Renovated | 1971/2025 |
| Property Subtype | Warehouse | ||
| Zoning | LI-C | ||
| Price | $13,050,000 |
| Price Per SF | $195.50 |
| Sale Type | Investment NNN |
| Cap Rate | 8.15% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 5.72 AC |
| Rentable Building Area | 66,752 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1971/2025 |
| Zoning | LI-C |
UTILITIES
- Gas - Natural
- Water - City
- Sewer - City
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,273,800 | |
| Land Assessment | $786,700 | Total Assessment | $4,060,500 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$786,700
Improvements Assessment
$3,273,800
Total Assessment
$4,060,500
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Rainier View Industrial Park | 6221 Rich Rd SE
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