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727 Adams St SE
Olympia, WA 98501
Land For Sale
·
0.26 AC
Investment Highlights
- Located in Olympia’s downtown core near Capitol Lake and key government facilities.
- Walkable to restaurants, coffee shops, shopping, and lifestyle services.
- Development plan includes a four-story building with thoughtfully designed residential layouts.
- Easy access to I-5, Highway 101, and surrounding cities including Lacey and Tumwater.
- Nearby recreational amenities, including Heritage Park and the waterfront.
- Positioned in a supply-constrained market for multifamily housing, ensuring sustained demand.
Executive Summary
This property offers a unique development site in the heart of Olympia, designed to support future multifamily housing with an approved plan for a 38-unit apartment building. Located within a well-established urban neighborhood, the site benefits from connectivity to downtown Olympia and quick freeway access. Tenants of the completed development will enjoy walkability to retail, dining, and community attractions, alongside proximity to major employment centers and state facilities.
The location provides convenient access to I-5 in just minutes, creating an easy commute to the surrounding cities of Lacey and Tumwater. Nearby amenities include parks, fitness centers, local restaurants, and banks, making the property well-positioned for long-term occupancy demand. With site preparation and design plans reducing lead time for construction, this project represents an attractive opportunity for an infill residence that addresses the region’s housing needs efficiently.
The location provides convenient access to I-5 in just minutes, creating an easy commute to the surrounding cities of Lacey and Tumwater. Nearby amenities include parks, fitness centers, local restaurants, and banks, making the property well-positioned for long-term occupancy demand. With site preparation and design plans reducing lead time for construction, this project represents an attractive opportunity for an infill residence that addresses the region’s housing needs efficiently.
Property Facts
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Total Lot Size | 0.26 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | DB | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 0.26 AC |
| Opportunity Zone |
Yes |
| Zoning | DB |
1 Lot Available
Lot
| Price | $760,000 | Lot Size | 0.26 AC |
| Price Per AC | $2,923,076.92 |
| Price | $760,000 |
| Price Per AC | $2,923,076.92 |
| Lot Size | 0.26 AC |
Description
The property consists of a 0.26-acre parcel located at 727 Adams St SE in Olympia, WA. It is situated near downtown Olympia with direct proximity to Capitol Lake, Heritage Park, and state government offices. The site is within a short distance of multiple retail and dining options and is positioned for convenient access to major thoroughfares, including Interstate 5 and Highway 101.
Property Taxes
| Parcel Numbers | Improvements Assessment | $13,300 | |
| Land Assessment | $368,000 | Total Assessment | $381,300 |
Property Taxes
Parcel Numbers
Land Assessment
$368,000
Improvements Assessment
$13,300
Total Assessment
$381,300
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