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1015 4th Ave SW 6,000 SF 100% Leased Office Building Olympia, WA 98502 $1,169,277 CAD ($194.88 CAD/SF) 7.53% Cap Rate
INVESTMENT HIGHLIGHTS
- Off street parking
- Close to service (shopping, offices, and residential)
EXECUTIVE SUMMARY
This mid-century modern building features a diverse mix of tenants, including medical, dental, office, and hair salon businesses. The property is currently fully occupied; however, future availability could allow for owner/user occupancy. The site is attractively landscaped and offers 27 surface parking stalls. Located in a desirable neighborhood, the setting is well-suited for personal service businesses.
Two parcels - 68601100100, 68601100200
NOI based on 2025 actuals year-to-date and extended through the end of year.
Two parcels - 68601100100, 68601100200
NOI based on 2025 actuals year-to-date and extended through the end of year.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$162,205
|
$26.57
|
| Other Income |
$3,301
|
$0.54
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$165,506
|
$27.11
|
| Taxes |
$10,731
|
$1.76
|
| Operating Expenses |
$66,738
|
$10.93
|
| Total Expenses |
$77,469
|
$12.69
|
| Net Operating Income |
$88,037
|
$14.42
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $162,205 |
| Annual Per SF | $26.57 |
| Other Income (CAD) | |
|---|---|
| Annual | $3,301 |
| Annual Per SF | $0.54 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $165,506 |
| Annual Per SF | $27.11 |
| Taxes (CAD) | |
|---|---|
| Annual | $10,731 |
| Annual Per SF | $1.76 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $66,738 |
| Annual Per SF | $10.93 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $77,469 |
| Annual Per SF | $12.69 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $88,037 |
| Annual Per SF | $14.42 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
6,000 SF
Building Class
C
Year Built
1962
Price
$1,169,277 CAD
Price Per SF
$194.88 CAD
Cap Rate
7.53%
NOI
$88,037 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,000 SF
Slab To Slab
10’
Building FAR
0.41
Lot Size
0.34 AC
Zoning
PO/RM - Professional Office
Parking
25 Spaces (4.17 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Ziegler Chiropractic
- Professional, Scientific, and Technical Services
- -
- -
- Jun 2029
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Ziegler Chiropractic | Professional, Scientific, and Technical Services | - | - | Jun 2029 |
Walk Score®
Very Walkable (70)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $1,023,186 CAD (2024) | |
| Land Assessment | $230,829 CAD (2024) | Annual Taxes | $10,731 CAD ($1.79 CAD/SF) |
| Improvements Assessment | $792,357 CAD (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$230,829 CAD (2024)
Improvements Assessment
$792,357 CAD (2024)
Total Assessment
$1,023,186 CAD (2024)
Annual Taxes
$10,731 CAD ($1.79 CAD/SF)
Tax Year
2025
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1015 4th Ave SW
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