302 304 4th Avenue E, Olympia, WA 98501
- $2,200,000
Listing courtesy of John L. Scott, Inc.
- List Price
- $2,200,000
- Status
- ACTIVE
- MLS#
- 2550358
- Days on Market
- 19
- Annual Tax Ammount
- 8525
- Internet Provider
- Xfinity
Property Description
Exceptional investment opportunity in the heart of Downtown Olympia's Creative District. This historic mixed-use commercial building is occupied with eight established tenants, providing a diversified income stream from street-level retail, artist lofts, music studios, and office space. Located on the prominent corner of 4th Avenue and Franklin Street, the property offers approximately 180 feet of high-visibility frontage with strong pedestrian and vehicle traffic, metered street parking, and a public parking lot directly across the street. Less than one mile from the Washington State Capitol Campus, the property benefits from a strong daytime workforce, surrounding restaurants, retail, entertainment, and continued downtown revitalization. Situated within a federally designated Opportunity Zone, this asset offers potential tax advantages for qualified investors and significant long-term upside through rental growth, capital improvements, repositioning, or future redevelopment, subject to buyer verification.The established tenant mix has created a vibrant destination within Downtown Olympia while providing stable occupancy and consistent cash flow. A rare opportunity to acquire a well-positioned commercial asset with exceptional visibility, strong in-place income, and outstanding long-term investment potential in one of Olympia's premier commercial corridors. Ideal for investors seeking a stable asset with future appreciation potential in a highly desirable downtown location.
/u.realgeeks.media/homes77/logo-full.png){kind=logo}
Additional Information
- Community
- Olympia
- Building Condition
- Average
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 1928
- Roof
- Torch Down
- Tax Year
- 2026
- Potential Terms
- Cash, Conventional
- Flooring
- Concrete, Hardwood, Softwood
- Driving Directions
- From I-5 take exit 105 toward Port of Olympia. Continue onto Plum St SE. Turn left onto 5th Ave SE. Turn right onto Franklin St SE. Turn right onto Franklin St SE. Turn right onto 4th Ave.
- Other Expenses
- 34035
- Energy Source
- Electric, Natural Gas
- Net Operating Income
- $81,803
- Gross Adjusted Income
- $84,600
- Gross Scheduled Income
- $33,405
- Cap Rate
- 4
- Vacancy Rate
- 13
- Total Expenses
- $48,398
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.