520 LLC 520 4th Ave E 8,400 SF Retail Building Olympia, WA 98501 $2,246,541 CAD ($267.45 CAD/SF) 4.51% Cap Rate

520 E 4th Ave, Olympia, WA 98501 – Historic Trophy Asset / Landmark Restaurant & Mixed-Use Building For Sale in the heart of Olympia's Creative District
520 E 4th Ave represents a rare opportunity to acquire one of downtown Olympia’s most recognizable historic commercial buildings. Located in the heart of Olympia’s Historic Creative District and steps from City Hall and the Washington State Capitol Campus, this iconic 8,400 SF terra cotta Gothic Revival property combines architectural significance, prime downtown positioning, and exceptional adaptive reuse potential.
Originally designed by renowned architect Joseph Wohleb and built by the Titus family, this landmark property offers a unique opportunity for investors, owner-users, hospitality operators, and creative developers seeking a distinctive downtown asset. Existing restaurant infrastructure provides immediate value, while the flexible layout supports future restaurant, entertainment, retail, office, hospitality, or mixed-use concepts.
County records list the construction date as 1927, while historical society references cite 1923. A major change of use occurred in 1988, converting the building to office space and subsequently to a bar and restaurant. Significant renovations were completed in 1999 for anchor tenant Ramblin Jacks, modernizing systems and food-service infrastructure while preserving the building’s historic character.
Property Overview
Total Building Size: 8,400 SF
Lot Size: 0.17-acre corner lot
Architecture: Terra cotta–tiled Gothic Revival
Construction: Steel-reinforced concrete
Stories: Two
Historic Designer: Joseph Wohleb
Original Builder: Titus family
Location: Prime downtown corner, walking distance to Olympia City Hall, Capitol Campus, and core retail and dining amenities
Current Configuration
6,136 SF restaurant and bar space
1,200 SF office space
1,064 SF storage / warehouse space
812 SF private banquet / event room, ideal for private dining, meetings, receptions, and catered events
The dedicated banquet room provides a separate, monetizable revenue stream for private parties, corporate events, civic gatherings, and special functions, particularly given the building’s close proximity to City Hall, government offices, and downtown venues.
Restaurant & Food-Service Infrastructure
Two (2) walk-in coolers
Two (2) commercial vent hoods
One (1) Wood Stone brand wood-fired pizza oven with dedicated ventilation hood
Full commercial kitchen layout
Bar and dining room configuration
Existing grease and utility infrastructure from long-term restaurant use
Location & Market Appeal
Prominent corner location in downtown Olympia
Immediate proximity to Olympia City Hall, government offices, and Capitol Campus
Strong pedestrian traffic and daytime population from nearby civic, legal, and office uses
Surrounded by retail, dining, cultural venues, and downtown employers
Investment Highlights
Rare trophy asset and iconic landmark building in downtown Olympia's Creative District
Distinctive historic architecture with exceptional branding and placemaking value
Restaurant infrastructure including venting, walk-ins, and pizza oven
Dedicated 812 SF banquet / event room with independent income potential
Flexible layout allowing full-building owner occupancy or partial leasing
Suitable for restaurant, bar, brewery, tasting room, creative office, showroom, or mixed-use concepts
Strong appeal for owner-occupants seeking long-term control of a generational asset
Equally attractive for investors pursuing a historic, income-producing trophy property
Potential Future Uses
Signature restaurant / brewery
Event venue
Boutique hotel or lodging concept
Creative office headquarters
Art gallery / showroom
Culinary incubator
Mixed-use downtown redevelopment
Civic/community gathering space
Sale Opportunity
The building is offered for sale and represents an exceptional opportunity to acquire a generational trophy asset and downtown Olympia landmark. Its combination of location, architectural significance, proximity to City Hall, and existing restaurant build-out creates a rare offering that is difficult to replicate.