509 4Th AveOlympia, WA 98501

For Sale
$1,699,000

Prime location, high NOI, established tenant.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional restaurant property, located at 509 4th Ave E in Olympia, WA, presents a compelling investment opportunity. Built in 1925, the 13,657 square foot building boasts a prime downtown location across from the popular Well 80 Restaurant. The property features a long-term tenant, Ballet NW, occupying 7,200 square feet under lease until June 1, 2027, providing immediate and consistent cash flow. A significant 4,900 square foot vacant storefront offers substantial potential for expansion or leasing to a complementary business. An additional 1,200 square feet of storage space adds to the property's versatility. The building's strong financial performance is reflected in its Net Operating Income (NOI) of $60,505.11, making it an attractive investment with significant upside potential. The property's 98501 zip code and Thurston County location place it within a thriving commercial district. This is a rare chance to acquire a well-established restaurant property with a proven track record and significant growth opportunities in a desirable downtown location. The asking price is $1,699,000.

Highlights

  • $1,699,000 asking price.
  • 13,657 square foot retail building.
  • $60,505.11 Net Operating Income (NOI).
  • Built in 1925.
  • Located at 509 4th Ave E, Olympia, WA 98501.

Property Details for 509 4Th Ave

Property type
Other retail properties, Restaurants
Square Feet
13,657 SF
Year Built
1925

Location Insight

City
Olympia
County
Thurston
State
Washington
Latitude
47.0449164
Longitude
-122.8961268
509 4Th Ave, Olympia, Washington

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509 4Th Ave
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