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Elephant Car Wash 9105 Martin Way E 4,368 SF 100% Leased Retail Building Olympia, WA 98516 $4,985,000 ($1,141.25/SF)
Investment Highlights
- This property benefits from dual income streams with revenue generated from the car wash and a leased espresso shop, enhancing cash flow stability
- The wash has 4 SS bays, and two automatics (updated in 2021) ensuring operational efficiency and reduced maintenance costs
- The espresso shop lease, under an established coffee brand, BigFoot Java, offers a 5-year initial term with eight 5-year renewal options and 3% annual
- The property sits on Martin Way E, a major thoroughfare in Lacey, WA benefiting from high visibility and accessibility, drawing significant customer
- The multi-bay configuration offers potential for converting additional self-serve bays to automatics, technological upgrades
- Located in a growing Olympia retail corridor with increasing residential and commercial development
Executive Summary
Brian Brockman
License # 21256, 27380 (WA)
Matthews Real Estate Investment Services, Inc
2939 Vernon Place Cincinnati OH 45219
(866) 889-0550
License # 21256, 27380 (WA)
Matthews Real Estate Investment Services, Inc
2939 Vernon Place Cincinnati OH 45219
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,368 SF
Building Class
C
Year Built
2004
Price
$4,985,000
Price Per SF
$1,141.25
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.12
Lot Size
0.85 AC
Zoning
MHDC
Frontage
206’ on Martin way
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $508,200 | |
| Land Assessment | $1,007,800 | Total Assessment | $1,516,000 |
Property Taxes
Parcel Numbers
Land Assessment
$1,007,800
Improvements Assessment
$508,200
Total Assessment
$1,516,000
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Elephant Car Wash | 9105 Martin Way E
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