1801 Bay DrOlympia, WA 98502

Property Details for 1801 Bay Dr

Year built

2005

Construction

STEEL FRAME

Lot size

3.78 AC

Property size (Sq ft)

1,867 SF

Property type

Office properties

Property subtype

Office buildings

APN

7481-00-00110

APU

74810000110

Description

This exceptional Class A office building, Smyth Landing, offers 23,557 square feet of premium office space in a sought-after Olympia location. Built in 2007, this single, four-story building boasts stunning views of Budd Inlet and Mount Rainier, providing a unique and desirable work environment. The property sits on a five-acre lot and features a traditional office layout with multiple tenancies. Currently, 2,585 square feet are vacant, presenting an excellent opportunity for expansion or new tenants. The building is meticulously maintained and offers convenient amenities including 50 surface parking spaces, a significant advantage in this area. One elevator services the four floors. The urban waterfront zoning allows for a variety of uses. The property's prime location is just five minutes from downtown Olympia, offering easy access to city amenities while enjoying the natural beauty of the waterfront setting. The APN numbers are 74810000200, 74810000300, 74810000600, 74810000800, and 74810000120. This is a rare opportunity to acquire a high-quality, well-located office building with significant potential.

• CAP approach

  CAP return

  Valuation

  6%

  $505,215

  6.5%

  $466,352

  7%

  $433,041

• Comparable approach

  Method

  Valuation

  Relative Method

  $500,662

  Geo Method

  $359,547

• Alternative Use

  Use

  Valuation

  Residential

  $578,277

  Hospitality

  $529,698

  Educational

  $440,703

  Medical

  $455,859

  Retail

  $685,538

Location Insight

City

Olympia

County

Thurston

State

Washington

Latitude

47.0603

Longitude

-122.916

CBSA code

36500

CBSA name

OLYMPIA, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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