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116 NE State Avenue

Olympia, WA 98501
  • $736,000
  • STATUS: Active
  • MLS #: 2518287
UPDATED: 24 min ago
$736,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1946
County:

School Ratings & Info

Northwest MLS logo Listing courtesy of Northwest MLS as distributed by MLS GRID. Listing courtesy of WeLakeside.
Mortgage Calculator is provided by BoomTown.

Description

Prime Downtown Investment Opportunity – Fully Leased Retail with Rare On-Site Parking Located in the heart of downtown Olympia, this fully renovated mixed-use retail property presents a rare opportunity for investors seeking stable cash flow and long-term upside (Great CAP Rate). This 2000+ SF building features two fully leased retail storefronts, generating consistent income with strong tenant demand in a high-visibility location. Recent upgrades include a brand-new roof and interior renovations, significantly reducing near-term capital expenditures and enhancing tenant appeal. Ideal for investors seeking a turnkey, income-producing asset with both stability and future appreciation potential.

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MLS Grid logo

IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Tri-Cities Realty Group, LLC are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. The three tree icon refers to an NWMLS listing. Data last updated 2026-10-13T20:16:07.18. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market".
Based on information submitted to the MLS GRID as of 2026-10-13T20:16:07.18. 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.

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116 NE State Avenue Olympia, WA 98501

  • Price: $736,000
  • Status: Active
  • On Site: Days
  • Updated: 24 min ago
  • MLS #: 2518287
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1946
Built
Neighborhood:
Olympia
County:
Thurston
Area:
Olympia North
Property Description
Prime Downtown Investment Opportunity – Fully Leased Retail with Rare On-Site Parking Located in the heart of downtown Olympia, this fully renovated mixed-use retail property presents a rare opportunity for investors seeking stable cash flow and long-term upside (Great CAP Rate). This 2000+ SF building features two fully leased retail storefronts, generating consistent income with strong tenant demand in a high-visibility location. Recent upgrades include a brand-new roof and interior renovations, significantly reducing near-term capital expenditures and enhancing tenant appeal. Ideal for investors seeking a turnkey, income-producing asset with both stability and future appreciation potential.
Exterior Features

Carport YN No Open Parking YN No Parking Total 0 Structure Type Industrial Style Code 70 - Industrial

Interior Features

Baths Full Upper 0 Baths Half Upper 0 Baths Three Quarter Upper 0 Bedrooms Upper 0 Building Area Total 0 Cooling Heat Pump Cooling YN Yes Fireplace YN No Fireplaces Total 0 Flooring Concrete Heating Heat Pump Heating YN Yes Living Area 0 Square Footage Finished 0 Square Footage Unfinished 0

Property Features

Association Fee 0 Association YN No Energy Source Electric First Right Of Refusal No Foundation Details Block Irrigation Water Rights YN No Listing Terms CashConventional Lot Number 6 Possession Negotiable Possible Use Commercial Power Production Type Electric Property Sub Type Commercial Industrial Senior Community YN No Sewer Sewer Connected Short Term Rental YN No Special Listing Conditions None Tax Annual Amount 3097 Tax Year 2024 Water Source Public Year Built Effective 1946 Zoning Description Commercial Zoning Jurisdiction City

MLS Grid logo

IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Tri-Cities Realty Group, LLC are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. The three tree icon refers to an NWMLS listing. Data last updated 2026-10-13T20:16:07.18. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market".
Based on information submitted to the MLS GRID as of 2026-10-13T20:16:07.18. 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.

Digital Millennium Copyright Act
 
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Tri-Cities Realty Group, LLC
1919 N 20th Ave
Pasco WA, 99301
Northwest MLS logo Listing courtesy of Northwest MLS as distributed by MLS GRID. Listing courtesy of WeLakeside.
Mortgage Calculator is provided by BoomTown.