418 Carpenter RdLacey, WA 98503

Property Details for 418 Carpenter Rd

Year built

2005

Construction

WOOD FRAME

Lot size

0.49 AC

Property size (Sq ft)

10,750 SF

Property type

Office properties

Property subtype

Other office properties

APN

1181-52-40300

APU

11815240300

Description

Carpenter Suites, located in Olympia, Washington, presents a unique opportunity for businesses seeking Class A office space. This two-story building, totaling 11,408 square feet, sits on a substantial 21.344-acre lot and features a single building with multiple suites. Currently, three of the four suites are occupied, leaving 2,570 square feet of vacant space available. The minimum divisible space is 390 square feet, with a maximum contiguous space of 3,097 square feet. The building boasts two passenger elevators, providing convenient access to all floors. Ample parking is available with 22 customer spaces and an additional 7 employee spaces. Suite 201, for example, offers a secure keypad entry, elevator access, two shared bathrooms, a spacious reception area with a built-in desk, three large offices (one with a private balcony), a sizable conference room, a break area, and a storage room. The building is zoned commercial and conveniently located near Carpenter Road. Utilities are included in the lease, paid by the landlord. The property's APN is available upon request. This is an exceptional opportunity to secure high-quality office space in a desirable Olympia location. The building's multi-tenant nature offers a vibrant and collaborative work environment. Contact us today to learn more about available suites and lease terms.

• CAP approach

  CAP return

  Valuation

  6%

  $2,908,976

  6.5%

  $2,685,209

  7%

  $2,493,408

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,882,762

  Geo Method

  $2,070,235

• Alternative Use

  Use

  Valuation

  Residential

  $3,329,659

  Hospitality

  $3,049,950

  Educational

  $2,537,522

  Medical

  $2,624,792

  Retail

  $3,947,257

Location Insight

City

Olympia

County

Thurston

State

Washington

Latitude

47.0484

Longitude

-122.796

CBSA code

36500

CBSA name

OLYMPIA, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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