518 5Th AveOlympia, WA 98501

Property Details for 518 5Th Ave

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.19 AC

Property size (Sq ft)

140 SF

Property type

Retail properties

Property subtype

Other automotive properties

APN

7850-54-00500

APU

78505400500

Description

This exceptional 0.19-acre commercial land parcel presents a unique investment opportunity in Olympia's vibrant downtown business district. Located at 518 5th Ave SE, this property boasts a highly desirable corner lot configuration, offering excellent visibility and accessibility. Its strategic location places it directly across the street from Olympia City Hall, ensuring high foot traffic and prominent exposure. The property is zoned Downtown Business, providing flexibility for a variety of commercial uses. The sale includes an adjacent alley parcel, adding further value and potential development options. With an asking price of $680,000 and Thurston County APN 78505400500, this is a rare chance to acquire a prime piece of real estate in a thriving urban core. The property's central location offers easy access to numerous amenities, businesses, and transportation routes, making it an ideal site for a variety of commercial ventures. Don't miss this opportunity to secure a piece of Olympia's dynamic downtown landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $55,690

  6.5%

  $51,406

  7%

  $47,734

• Comparable approach

  Method

  Valuation

  Relative Method

  $94,608

  Geo Method

  $67,942

• Alternative Use

  Use

  Valuation

  Residential

  $43,363

  Hospitality

  $39,720

  Educational

  $33,047

  Medical

  $34,183

  Retail

  $51,406

Location Insight

City

Olympia

County

Thurston

State

Washington

Latitude

47.0447

Longitude

-122.896

CBSA code

36500

CBSA name

OLYMPIA, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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