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120 Pattison Rd NE - Olympia Martin Way Development Site 6.1 Acres of Commercial Land Offered at $3,691,026 CAD in Olympia, WA 98506
Investment Highlights
- Density Flexibility: Site plans for 82 townhomes with potential to develop up to 147 apartment units
- Excellent Connectivity: Less than one mile from Interstate 5 and within walking distance to bus services and adjacent to intercity transit
- Attractive Basis: Offered at $2.65M ($434.4K per acre)
- Strong Employment Base: Near major government offices including the Thurston County Auditor’s Office and Thurston County Courthouse
- Zoning Advantage: HDC-4 zoning supports higher-density residential and transit-oriented development
Executive Summary
Olympia Martin Way Development Site offers a prime ±6.1-acre multifamily development opportunity across three parcels, with exceptional access, strong surrounding employment drivers, and meaningful land-use flexibility. The site currently has plans for 82 townhome units; however, zoning allows for an alternative development scenario accommodating up to 147 apartment units, providing multiple paths to maximize density and returns.
Strategically located in East Olympia, the property sits directly across from Intercity Transit headquarters and in close proximity to key government employment centers, including the Thurston County Auditor’s Office, Thurston County Courthouse, and other county and state administrative offices. This concentration of stable public-sector employment provides a reliable renter base and supports long-term housing demand.
The property is zoned HDC-4 (High Density Corridor), a designation intended to support higher-density residential development in transit-oriented areas. This zoning allows for a range of multifamily configurations, including townhomes and apartments, and is designed to encourage efficient land use, walkability, and proximity to public transit. The flexibility of HDC-4 zoning supports both the currently planned townhome project and a higher-density apartment alternative, allowing developers to align product type with evolving market demand.
Offered at $2.65 million ($434,426 per acre), the Pattison Development Site represents a highly attractive, well-located, and flexible opportunity in a demand-driven and supply-constrained corridor.
Strategically located in East Olympia, the property sits directly across from Intercity Transit headquarters and in close proximity to key government employment centers, including the Thurston County Auditor’s Office, Thurston County Courthouse, and other county and state administrative offices. This concentration of stable public-sector employment provides a reliable renter base and supports long-term housing demand.
The property is zoned HDC-4 (High Density Corridor), a designation intended to support higher-density residential development in transit-oriented areas. This zoning allows for a range of multifamily configurations, including townhomes and apartments, and is designed to encourage efficient land use, walkability, and proximity to public transit. The flexibility of HDC-4 zoning supports both the currently planned townhome project and a higher-density apartment alternative, allowing developers to align product type with evolving market demand.
Offered at $2.65 million ($434,426 per acre), the Pattison Development Site represents a highly attractive, well-located, and flexible opportunity in a demand-driven and supply-constrained corridor.
Property Facts
| Price | $3,691,026 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 6.10 AC |
| Property Type | Land | ||
| Zoning | HDC4 - HDC-4 (High Density Corridor) | ||
| Price | $3,691,026 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 6.10 AC |
| Zoning | HDC4 - HDC-4 (High Density Corridor) |
1 Lot Available
Lot
| Price | $3,691,026 CAD | Lot Size | 6.10 AC |
| Price Per AC | $605,086.24 CAD |
| Price | $3,691,026 CAD |
| Price Per AC | $605,086.24 CAD |
| Lot Size | 6.10 AC |
±6.1-acre multifamily development opportunity across three parcels.
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $1,327,168 CAD | Total Assessment | $1,327,168 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$1,327,168 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,327,168 CAD
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120 Pattison Rd NE - Olympia Martin Way Development Site
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