300 Lilly RdOlympia, WA 98506

Property Details for 300 Lilly Rd

Year built

1982

Construction

WOOD FRAME

Lot size

1.02 AC

Property size (Sq ft)

2,048 SF

Property type

Medical offices

Property subtype

Medical centers

APN

8595-00-00100

APU

85950000100

Description

This exceptional 2,723 square foot medical office building is situated on Lilly Road in Olympia, Thurston County, Washington. The property is a single-tenant building, currently entirely vacant, presenting a unique opportunity for a medical practice or clinic seeking a move-in ready space. The building boasts seven individual offices, two restrooms, a spacious waiting room/reception area, and a convenient break room. A significant portion of the building, 1,873 square feet, has already undergone recent upgrades and build-out, providing a modern and efficient workspace. An additional 880 square feet of space is currently used for storage but offers significant potential for expansion to accommodate additional offices or clinic space, allowing for customization to meet specific needs. Ample parking is available for staff and patients, ensuring convenient access. This turnkey medical office building offers a rare combination of updated amenities, flexible space, and a desirable location in Olympia. The property is ready for immediate occupancy. The building's layout and features make it ideal for a variety of medical practices.

• CAP approach

  CAP return

  Valuation

  6%

  $628,086

  6.5%

  $579,772

  7%

  $538,360

• Comparable approach

  Method

  Valuation

  Relative Method

  $549,200

  Geo Method

  $394,404

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,104,640

  Retail / Commercial

  $573,658

  Mixed-Use / Specialty

  $577,290

  Hospitality / Lodging

  $430,929

  Institutional / Educational

  $602,177

  Residential Income

  $704,547

  Multifamily

  $813,528

  Automotive / Energy

  $516,152

  Parking / Income-Based Land

  $172,510

  Restaurant / Food Service

  $312,367

  Healthcare / Senior Housing

  $586,179

Location Insight

City

Olympia

County

Thurston

State

Washington

Latitude

47.0502

Longitude

-122.844

CBSA code

36500

CBSA name

OLYMPIA, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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