Olympia, WA
Commercial Real Estate Market Trends & Data

$325 Avg asking sale price
$1,645 Avg asking lease rate
9,615 SF Avg unit lease size
22,581 SF Avg building size for sale
6.39% Average cap rate

Olympia's Demographic Profile

Olympia has 25,531 households and a median income of $69,643, providing context for rent absorption and tenant demand across retail and multifamily assets. A +5% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 57,965
# Households 25,531
Median age 41
Median household income $69,643
Avg household size 2.0
Renter-occupied housing units 13,548
5-year population change +5%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Olympia, WA

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Olympia $247 20,295 SF 8.00%
Tumwater $220 5,782 SF 4.62%
Lacey $331 15,665 SF 5.20%
Centralia $180 20,872 SF 15.16%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Olympia $559 15,889 SF 13.00%
Tumwater $157 31,356 SF 13.00%
Lacey $1,444 1,378 SF 5.13%
Nearby Retail Markets Avg Cost/SF Typical Size
Olympia $437 18,595 SF
Tumwater $296 19,521 SF
Lacey $1,026 25,009 SF
Tenino $139 3,565 SF
Rochester $228 4,174 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Olympia $290 48,625 SF 7.77%
Lacey $195 34,732 SF 7.77%
Centralia $210 13,599 SF 7.78%
Shelton $280 19,831 SF 8.10%

Commercial Properties For Sale in Olympia

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

Black Hills Medical Park Portfolio

Olympia, WA

  • Office Building
  • 7.33% Cap Rate
  • $7,250,000
For Sale

The Rex Apartments

Olympia, WA 98501

  • 16,822 SF Multifamily
  • 7.04% Cap Rate
  • $5,050,000
For Sale

Avalon Building

Olympia, WA 98501

  • 6,400 SF Retail Building
  • 3.72% Cap Rate
  • $2,200,000
For Sale

7836 Delphi Rd SW, Olympia

Olympia, WA 98512

  • 4.91 AC Lot
  • 1 Agricultural Lot
  • $199,000
For Sale

2520 Park View St NE

Olympia, WA 98506

  • 0.96 AC Lot
  • 1 Commercial Lot
  • $1,199,000
For Sale

510 Custer Way SE

Olympia, WA 98501

  • 5,244 SF Retail Building
  • 4.20% Cap Rate
  • $999,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Olympia pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Olympia $325 22,581 SF
Tumwater $319 20,634 SF
Lacey $497 19,140 SF
Tenino $139 3,565 SF
Dupont $402 10,697 SF

Multifamily Properties For Sale in Olympia

For Sale

321 Lofts & Franklin Loft Apartments

Olympia, WA

  • 6.40% Cap Rate
  • $13,400,000

Regional Demographic Comparison

This comparison places Olympia alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Olympia or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Olympia 57,965 25,531 41 $69,643 2 13,548 5%
Tumwater 28,708 11,935 40 $79,815 2 4,993 7%
Lacey 60,871 23,680 39 $78,704 3 10,038 6%
Tenino 1,854 710 39 $58,055 3 212 3%
Dupont 9,552 3,424 34 $105,520 3 1,560 1%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Olympia, WA and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Olympia

View All Commercial Real Estate For Sale in Olympia
Is Olympia a good market for a first-time commercial real estate investor?

Olympia offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Olympia?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Olympia. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Olympia?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Olympia. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Olympia compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Olympia. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Olympia acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Olympia, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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