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1931 4th Avenue East Retail Property For Sale in Olympia, WA

Retail Property for Sale in Olympia, WA

1931 4th Avenue East

1931 4th Ave, Olympia, WA 98501, Thurston County
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Price $2,100,000

Listing Information

  • Listing Type Retail
  • Cap Rate 6.74%
  • Water -
  • Other Utilities -
  • Dock High Doors -
  • Doors Grade -
  • Condo SF -
Additional Property Details

The offering at 1931 & 1929 4th Avenue East in Olympia presents a unique opportunity to acquire a diversified, income-producing property combining retail, warehouse and residential uses in a highly visible East Olympia location. The property includes a 2,106 SF retail building, a 1,200 SF warehouse, and a two-unit residential duplex with additional basement storage. The mix of commercial and residential income provides multiple revenue streams within a single investment. 1931 4th Ave E was established as a bicycle store in 1967. Trek Retail Corp purchased the business in 2018. This location is consistently meeting and exceeding sales and service goals set by Trek Retail Corp. The service tech was 2nd in the west coast for production volume. The duplex enjoys long term tenancy and solid rental history. Offered at $2,100,000.00, the property generates approximately $141,500.00 in net operating income, representing a 6.74% capitalization rate. Its location along the 4th Avenue East corridor provides convenient access to I-5 and is minutes from major retail, employment and medical destinations in Olympia and Lacey. It also enjoys a neighborhood feel with walkability to schools, houses, Left Bank Bakery, and Vic's Pizza. With established income, a diverse tenant mix and a central location, the property offers investors an opportunity to acquire a stabilized asset with long-term flexibility and upside potential.

Property Information

  • Property Type Retail
  • Year Built/Reno. 1930 / 1982
  • Parcel # 4710-01-00700
  • Zoning -

Property Location