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Investment Highlights

  • RARE SUBMARKET MONOPOLY (LI-C ZONING)
  • TURNKEY ASSET WITH MANAGEMENT AVAILABLE
  • DIVERSE INCOME & GRANULAR RISK
  • CRITICAL SCARCITY | 2.4% SUBMARKET VACANCY
  • STRATEGIC “CAPTIVE AUDIENCE” LOCATION
  • IMMEDIATE REALIZABLE UPSIDE

Executive Summary

Northmarq is pleased to present the Rainier View Industrial Park, a premier light-industrial asset in Olympia, WA. Comprised of approximately 66,722 square feet across 23 versatile suites, the property benefits from comprehensive recent renovations and a 96.4% occupied rent roll. The asset has been strategically upgraded with modernized suites and intentional infrastructure, positioning it as a turnkey investment that commands interest from a wide variety of tenant profiles.
Uniquely situated as the only light-industrial (LI-C) zoned parcel in the immediate area, the property is surrounded by thousands of established residences. This dense residential backdrop creates a captive audience for the park’s service-oriented tenants, providing them with a built-in customer base and ensuring the asset’s long term essentiality to the community.
The strength of this asset is further bolstered by a record-low 2.4% vacancy rate for the sub-75,000 SF Thurston County industrial segment. In addition to durable in-place cash flow, multiple value add opportunities remain—including the finalization of a cell tower transaction and the optimization of yard space—providing investors with attractive, realizable upside potential in a high barrier-to-entry submarket.

Property Facts

Price $12,500,000
Price Per SF $187.34
Sale Type Investment
Cap Rate 6.94%
Property Type Industrial
Property Subtype
Distribution
  • Flex Light Manufacturing
  • Flex Showroom
  • FlexLight Distribution
Building Class B
Lot Size 5.86 AC
Rentable Building Area 66,722 SF
No. Stories 1
Year Built/Renovated 1995/2025
Parking Ratio 4.67/1,000 SF
Clear Ceiling Height 18’
No. Drive In / Grade-Level Doors 2
Zoning LI-C - Light Industrial

Amenities

  • Fenced Lot
  • Mezzanine
  • Property Manager on Site
  • Security System
  • Signage
  • Skylights
  • Shallow Bay
  • Storage Space
  • Monument Signage

Utilities

  • Lighting
  • Gas
  • Water
  • Sewer
  • Heating

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease End
  • Services
  • -
  • -
  • -

Studio23 Metalworks is an Olympia-based custom metal fabrication and design shop. The company creates furniture, ornamental and architectural metal, railings, signs, retail fixtures, gates, and lighting fixtures, covering both decorative and functional work. Studio23 Metalworks centers its business on design and fabrication services, with projects that span furniture pieces, building accents, and specialty metal installations. The company's long-running presence in the region reflects a focus on custom work for residential, commercial, and architectural applications.

Tenant Industry SF Occupied Rent/SF Lease End
Services - - -

Space Availability

  • Space
  • Size
  • Space Use
  • Build-Out
  • Available
  • 1st Fl - 6235 D
  • 3,500 SF
  • Industrial
  • Shell Space
  • Now
  • 1st Fl - 6235 Unit C
  • 1,200 SF
  • Industrial
  • -
  • Now

This ±1,200-square-foot warehouse/flex unit at Rainier View Industrial Park offers a clean, open, and highly functional footprint ideal for small businesses, contractors, and startups that need efficient, ready-to-use industrial space in a well-located, professionally managed park. Featuring an open floor plan with impressive 16- foot clear ceiling heights, the unit maximizes vertical storage and racking capacity in a compact footprint, a rare value at this size. A 14-foot grade-level roll-up door provides easy loading and drive-in access, and a private restroom serves the suite. With no wasted space on unnecessary build-out, you get pure, usable square footage that works as hard as you do. Perfect for light manufacturing, distribution, e-commerce fulfillment, contractors, service trades, or storage, this small-bay space delivers professional functionality in a convenient, accessible location. Space like this moves fast. Reach out today to schedule a tour. Property Highlights: ±1,200 -square-foot warehouse/flex space 16- foot clear ceiling height Open floor plan, no interior office build-out 14-foot grade-level roll-up door Private restroom Professionally managed park with easy access Efficient small-bay footprint for contractors and small businesses Contact us today to schedule a tour.

  • 1st Fl - 6243 Unit A
  • 3,500 SF
  • Flex
  • -
  • Now

Take advantage of exceptional visibility in this ±3,500-square-foot industrial/flex unit at Rainier View Industrial Park, positioned directly along Rich Road SE with outstanding exposure to passing traffic. This front-and-center location puts your business, signage, and brand in front of thousands of vehicles daily, an ideal fit for businesses that value drive-by exposure alongside functional warehouse space. The unit is built for productivity, featuring a 14-foot grade-level roll-up door for easy loading and drive-in access, a generous 16-foot clear ceiling height to maximize vertical storage and racking, and approximately 200 square feet of finished office space to handle your front-of-house needs. A private restroom serves the suite for added convenience. Whether you're in light manufacturing, distribution, contracting, e-commerce, showroom/retail-warehouse, or service trades, this space delivers the rare combination of premium road frontage and practical industrial functionality. Don't miss this opportunity to establish your business in a high-visibility location. Property Highlights: ±3,500 square-foot industrial/flex space, Prime frontage and signage exposure on Rich Road SE, 14-foot grade-level roll-up door, 16-foot clear ceiling height, ±200 -square-foot built-out office, Private restroom, Excellent access and drive-by traffic count. Contact us today to schedule a tour.

Space Size Space Use Build-Out Available
1st Fl - 6235 D 3,500 SF Industrial Shell Space Now
1st Fl - 6235 Unit C 1,200 SF Industrial - Now
1st Fl - 6243 Unit A 3,500 SF Flex - Now

1st Fl - 6235 D

Size
3,500 SF
Space Use
Industrial
Build-Out
Shell Space
Available
Now

1st Fl - 6235 Unit C

Size
1,200 SF
Space Use
Industrial
Build-Out
-
Available
Now

1st Fl - 6243 Unit A

Size
3,500 SF
Space Use
Flex
Build-Out
-
Available
Now

1st Fl - 6235 D

Size 3,500 SF
Space Use Industrial
Build-Out Shell Space
Available Now

1st Fl - 6235 Unit C

Size 1,200 SF
Space Use Industrial
Build-Out -
Available Now

This ±1,200-square-foot warehouse/flex unit at Rainier View Industrial Park offers a clean, open, and highly functional footprint ideal for small businesses, contractors, and startups that need efficient, ready-to-use industrial space in a well-located, professionally managed park. Featuring an open floor plan with impressive 16- foot clear ceiling heights, the unit maximizes vertical storage and racking capacity in a compact footprint, a rare value at this size. A 14-foot grade-level roll-up door provides easy loading and drive-in access, and a private restroom serves the suite. With no wasted space on unnecessary build-out, you get pure, usable square footage that works as hard as you do. Perfect for light manufacturing, distribution, e-commerce fulfillment, contractors, service trades, or storage, this small-bay space delivers professional functionality in a convenient, accessible location. Space like this moves fast. Reach out today to schedule a tour. Property Highlights: ±1,200 -square-foot warehouse/flex space 16- foot clear ceiling height Open floor plan, no interior office build-out 14-foot grade-level roll-up door Private restroom Professionally managed park with easy access Efficient small-bay footprint for contractors and small businesses Contact us today to schedule a tour.

1st Fl - 6243 Unit A

Size 3,500 SF
Space Use Flex
Build-Out -
Available Now

Take advantage of exceptional visibility in this ±3,500-square-foot industrial/flex unit at Rainier View Industrial Park, positioned directly along Rich Road SE with outstanding exposure to passing traffic. This front-and-center location puts your business, signage, and brand in front of thousands of vehicles daily, an ideal fit for businesses that value drive-by exposure alongside functional warehouse space. The unit is built for productivity, featuring a 14-foot grade-level roll-up door for easy loading and drive-in access, a generous 16-foot clear ceiling height to maximize vertical storage and racking, and approximately 200 square feet of finished office space to handle your front-of-house needs. A private restroom serves the suite for added convenience. Whether you're in light manufacturing, distribution, contracting, e-commerce, showroom/retail-warehouse, or service trades, this space delivers the rare combination of premium road frontage and practical industrial functionality. Don't miss this opportunity to establish your business in a high-visibility location. Property Highlights: ±3,500 square-foot industrial/flex space, Prime frontage and signage exposure on Rich Road SE, 14-foot grade-level roll-up door, 16-foot clear ceiling height, ±200 -square-foot built-out office, Private restroom, Excellent access and drive-by traffic count. Contact us today to schedule a tour.

Somewhat walkable
30/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Fairly bikeable
50/100

Property Taxes

Property Taxes

Parcel Numbers
Multiple
  • 11706240110
  • 11706240109
  • 11706240105
  • 11706240100
  • 11706240103
Land Assessment
$1,718,800
Improvements Assessment
$2,523,400
Total Assessment
$4,242,200
  • Listing ID: 39922907

  • Date on Market: 3/26/2026

  • Last Updated:

  • Address: 6311 Rich Rd SE, Olympia, WA 98501

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