204 Erie StTumwater, WA 98501

Property Details for 204 Erie St

Year built

1972

Construction

WOOD FRAME

Lot size

0.14 AC

Property size (Sq ft)

2,176 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

8490-01-01400

APU

84900101400

Description

This exceptional 2,176 square foot mixed-use commercial building, located at 204 Erie St SE in Tumwater, Washington, presents a unique investment opportunity. Built in 1972 and renovated in the 1980s, the property offers a blend of creative and medical office space, currently configured as a chiropractic office. The building boasts multiple offices, substantial storage space, and is fully ADA accessible. Ten convenient parking spaces are available on-site. The asking price is $549,900, representing a compelling value for this well-maintained property in a desirable location within Thurston County, WA (zip code 98501). The entire 2,176 square feet is net rentable, providing maximum usable space for the new owner. Its adaptable layout makes it suitable for a variety of businesses, from medical practices to creative agencies. The property's prime location in Tumwater offers easy access to major transportation routes and a thriving local community. This is a chance to acquire a turnkey commercial property with significant potential for growth and return on investment. The building's existing medical-grade rooms provide a solid foundation for a healthcare-related business, while its flexible design allows for easy adaptation to other uses. Don't miss this opportunity to own a piece of Tumwater's vibrant commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $588,831

  6.5%

  $543,536

  7%

  $504,712

• Comparable approach

  Method

  Valuation

  Relative Method

  $583,525

  Geo Method

  $419,054

• Alternative Use

  Use

  Valuation

  Residential

  $673,985

  Hospitality

  $617,367

  Educational

  $513,642

  Medical

  $531,307

  Retail

  $798,998

Location Insight

City

Tumwater

County

Thurston

State

Washington

Latitude

47.016

Longitude

-122.9

CBSA code

36500

CBSA name

OLYMPIA, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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