302 304 4th Avenue E Olympia, WA $ 2,200,000
302 304 4th Avenue E
$ 2,200,000
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302 304 4th Avenue E

Olympia, WA, 98501
$ 2,200,000
Bedrooms-- Baths--

Monthly Estimate*

$ 13,891

Listed by John L. Scott, Inc
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Commercial Property for sale in Olympia, WA

for $2,200,000. This building was built in 1928 on a lot size of 0.1128.

Exceptional investment opportunity in the heart of Downtown Olympia's Creative District. This historic mixed-use commercial building is occupied with eight established tenants, providing a diversified income stream from street-level retail, artist lofts, music studios, and office space. Located on the prominent corner of 4th Avenue and Franklin Street, the property offers approximately 180 feet of high-visibility frontage with strong pedestrian and vehicle traffic, metered street parking, and a public parking lot directly across the street. Less than one mile from the Washington State Capitol Campus, the property benefits from a strong daytime workforce, surrounding restaurants, retail, entertainment, and continued downtown revitalization. Situated within a federally designated Opportunity Zone, this asset offers potential tax advantages for qualified investors and significant long-term upside through rental growth, capital improvements, repositioning, or future redevelopment, subject to buyer verification.The established tenant mix has created a vibrant destination within Downtown Olympia while providing stable occupancy and consistent cash flow. A rare opportunity to acquire a well-positioned commercial asset with exceptional visibility, strong in-place income, and outstanding long-term investment potential in one of Olympia's premier commercial corridors. Ideal for investors seeking a stable asset with future appreciation potential in a highly desirable downtown location.

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Commercial Active

Price

$ 2,200,000

Property Type

Commercial

Taxes

$ 8,525

Style

Comm Bldg Und 10K

Lot Size

0.1128

Year Built

1928

Town/City

Olympia

County/Region

Thurston

MLS | Web ID

2550358

Features
General
Living Area 0
Sewer Sewer Connected
Heating Forced Air
Cooling Forced Air
Possession Closing Negotiable Subject To Tenant Rights
Roof Torch Down
HOA Fee 0
Year Built 1928
Topography Level
Property Subtype Commercial Industrial
Tax Year 2026
County Thurston
Net Operating Income 81803
Insurance Expense 5838
Property Type Commercial Sale
HOA N
Subdivision Name Olympia
Possible Use Business Commercial Multi-Family Office Residential Retail
Building Features Disabled Access
Special Listing Conditions None
Status Active
Directions From I-5 take exit 105 toward Port of Olympia. Continue onto Plum St SE. Turn left onto 5th Ave SE. Turn right onto Franklin St SE. Turn right onto Franklin St SE. Turn right onto 4th Ave.
City Olympia
Senior Community Y/N N
Zoning Description Business Commercial Multi-Family Office Residential Retail
MLS Area 447 - Olympia North
Lot Size Units Square Feet
Lot Size Square Feet 4915
Carport Y/N N
Listing Terms Cash Conventional
Tax Annual Amount 8525
Property Condition Average
Public Remarks Exceptional investment opportunity in the heart of Downtown Olympia's Creative District. This historic mixed-use commercial building is occupied with eight established tenants providing a diversified
Structure Type Unspecified
Building Area Units Square Feet
Standard Status Active
Water Company City of Olympia
Total Actual Rent 6920
Property Style 60 - Comm Bldg Und 10K
Cap Rate 4
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Exterior
Exterior Amenities Stucco
Water Source Public
Total Parking 0
Foundation Details Slab
Building Area Total 0
Lot Size Acres 0.1128
Irrigation Water Rights Y/N N
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Interior
Flooring Concrete Hardwood Softwood
Total Fireplaces 0
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
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 Only
OriginalMLSID NWM2550358
Street Number 1 302
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* Excluded Features
List By
Terry Vo

Listing Agent

John L. Scott, Inc

Broker

Affordability Calculator

$14,601
Per Month
95%
5%
0%
Monthly Principal & Interest
$13,891
Monthly Property Taxes
$710
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% 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.
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Nearby
258624 Elementary School
258775 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
7/9/2026$2,200,000 Listed Price

Map


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302 304 4th Avenue E, Olympia, WA, 98501 is a Commercial Property for sale at $2,200,000 with a lot size of 0.1128. 302 304 4th Avenue E was built in 1928. The property's zip code is 98501 which is in Olympia, WA