520 4th Avenue E
Olympia, WA, 98501 $ 1,495,000
Bedrooms-- Baths-- Monthly Estimate*
$ 10,326
Listed by Michael T. Smith, Century 21 Van Dorm Realty, 360-790-7970, michael@smithcastleproperties.com
for $1,495,000. This building was built in 1927 on a lot size of 0.17.
ICONIC DOWNTOWN OLYMPIA LANDMARK — OWNER-USER / ADAPTIVE REUSE OPPORTUNITY Own one of downtown Olympia's most recognizable historic commercial landmarks. Prominently located on a .17-acre corner lot directly across from City Hall, within Olympia's Historic Creative District and a federally designated Opportunity Zone, this 8,400 SF terra-cotta Gothic Revival-influenced building offers exceptional character, visibility, and flexibility. Designed by renowned Olympia architect Joseph Wohleb and built by the historic Titus family, the building has served Olympia through multiple eras, including auto dealerships, retail, and most recently a restaurant/bar. The flexible layout includes approximately 6,136 SF of restaurant/hospitality space, 1,200 SF of office, 1,064 SF of warehouse/storage, and an 812 SF private banquet/event room. Existing improvements include two walk-in coolers, commercial vent hoods, a Wood Stone wood-fired pizza oven, HVAC, fire protection, security systems, and substantial restaurant infrastructure. Beyond hospitality use, the property offers potential for creative office, retail, entertainment, events, brewery/tasting room, hospitality, showroom, or other adaptive-reuse concepts, subject to applicable approvals. A rare opportunity for an owner-user, investor, hospitality operator, or developer to acquire a signature piece of downtown Olympia history with significant long-term potential.
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FeaturesGeneralLiving Area 0
Sewer Sewer Connected
Heating Forced Air Heat Pump
Cooling Central Air Forced Air Heat Pump
Possession Closing
Roof Composition Torch Down
HOA Fee 0
Year Built 1927
Topography Level
Property Subtype Commercial Industrial
Tax Year 2025
County Thurston
Insurance Expense 10589
Property Type Commercial Sale
HOA N
Subdivision Name Olympia
Possible Use Business Commercial Retail See Remarks
Special Listing Conditions None
Status Active
Directions From exit 105A follow Plum Street to State Ave turn left turn left on Cherry Street NE to destination on your right.
City Olympia
Senior Community Y/N N
Zoning Description Business Commercial Retail See Remarks
Number Of Units Total 0
MLS Area 447 - Olympia North
Lot Size Units Square Feet
Lot Size Square Feet 7405
Carport Y/N N
Listing Terms Cash Conventional
Tax Annual Amount 13824
Electric Expense 7757
Property Condition Good
Public Remarks ICONIC DOWNTOWN OLYMPIA LANDMARK OWNER-USER / ADAPTIVE REUSE OPPORTUNITY Own one of downtown Olympia's most recognizable historic commercial landmarks. Prominently located on a .17-acre corner lo
Structure Type Unspecified
Building Area Units Square Feet
Standard Status Active
Water Company City of Olympia
Water Sewer Garbage 2193
Property Style 60 - Comm Bldg Und 10K
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ExteriorExterior Amenities Cement/Concrete See Remarks
Water Source Public
Foundation Details Poured Concrete Slab
Building Area Total 0
Lot Size Acres 0.17
Irrigation Water Rights Y/N N
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InteriorFlooring Ceramic Tile Concrete Softwood Vinyl Vinyl Plank
Total Fireplaces 0
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Ceiling Height 16'
Power Production Type Electric Natural Gas
Baths Three Quarter Upper 0
Bedrooms Upper 0
Baths Half Upper 0
Baths Full Upper 0
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Internal OnlyOriginalMLSID NWM2455186
Street Number 1 520
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* Excluded FeaturesList ByMichael T. SmithListing Agent
Century 21 Van Dorm RealtyBroker
michael@smithcastleproperties.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $10,326
- Monthly Property Taxes
- $1,152
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Olympia, WA
Average List Price $1,788,809
Percent of Sale Price 20%
About Olympia, WA 53,563 Population
23% Since 2002
$ 56,604 Median Income
39.12 Median Age
24% Households with Children
Trends Information provided by ATTOM Data Solutions.
258624 Elementary School
258775 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 9/9/2026 | $1,495,000 | -6.27% | Price Down |
| 5/30/2026 | $1,595,000 | -7.54% | Price Down |
| 3/20/2026 | $1,725,000 | -4.17% | Price Down |
| 12/8/2025 | $1,800,000 | | Listed Price |