116 NE State Avenue, Olympia, WA 98501 (MLS # 2518287)

Listing provided courtesy of Northwest MLS; WeLakeside

PRICE	$736,000
SIZE	n/a
LOT SIZE	6,099 sqft

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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.

LAST UPDATED	5/5/2026	TRACT	Olympia
YEAR BUILT	1946	COMMUNITY	Olympia
COUNTY	Thurston	STATUS	Active
PROPERTY TYPE(S)	Commercial

ADDITIONAL DETAILS
AIR	Heat Pump
AIR CONDITIONING	Yes
AREA	447 - Olympia North
HEAT	Electric, Heat Pump
LOT	6098 sq ft
MLS STATUS	Active
STYLE	70 - Industrial
SUBDIVISION	Olympia
TAXES	3097
UTILITIES	Sewer Connected
WATER	Public
ZONING	Commercial

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Properties with the Logo icon are courtesy of Northwest MLS.

Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 5/15/26 2:05 AM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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. 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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