7515 Terminal StTumwater, WA 98501

For Sale
$2,646,683

Fully leased, high-cap rate office/warehouse.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a fully leased, stabilized mixed-use property located in Tumwater, WA, at 7515 and 7511 Terminal St SW. The property comprises two buildings totaling 26,461 square feet on a 3.36-acre lot, zoned ARI. A 9,792 square foot office building and a 11,698 square foot hangar/warehouse with runway access are included. The property benefits from a prime location adjacent to the Olympia Airport and with convenient access to I-5. The Washington State Department of Natural Resources occupies both buildings under leases extending to 2026 and 2028, respectively, ensuring strong, consistent cash flow. The land lease with the Port of Olympia runs until 2044, with four five-year extension options providing long-term security. Built in 1987 and renovated in 2023, this Class B property boasts a strong 8.25% cap rate, a $218,355 net operating income (NOI), and an asking price of $2,646,683 ($100.02 per square foot). This is a rare opportunity to acquire a high-performing, fully leased asset with significant long-term potential in a desirable location. The property features a modified lease type and is a single-tenancy investment.

Highlights

  • Fully leased, stabilized mixed-use property in Tumwater, WA.
  • Two buildings totaling 26,461 square feet on a 3.36-acre lot, zoned ARI.
  • Includes a 9,792 SF office building and a 11,698 SF hangar/warehouse with runway access.
  • Prime location adjacent to Olympia Airport with I-5 access.
  • Washington State Department of Natural Resources is the sole tenant with leases extending to 2026 and 2028.
  • Land lease with Port of Olympia extends to 2044 with extension options.

Property Details for 7515 Terminal St

Property type
Other mixed-use properties, Mixed-use properties
Square Feet
26,461 SF
Class
B
Year Built/Renovated
1987/2023
Buildings
2
Stories
2
Lot Size (sq. ft)
146,362 SF
Units
2

Location Insight

City
Tumwater
County
Thurston
State
Washington
Latitude
46.9787611
Longitude
-122.9088729
7515 Terminal St, Tumwater, Washington

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7515 Terminal St
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