3773 Martin WayOlympia, WA 98506

Property Details for 3773 Martin Way

Year built

1985

Construction

WOOD FRAME

Lot size

1.24 AC

Property size (Sq ft)

10,700 SF

Property type

Office properties

Property subtype

Office buildings

APN

1181-72-31900

APU

11817231900

Description

This single-story, 10,625 square foot Class B medical office building, situated on a 0.94-acre lot in Thurston County, presents a compelling investment opportunity. Built in 1989, the property features a multi-tenant configuration with currently available space totaling 2,680 square feet. One immediately available suite offers 1,540 square feet, ideal for a variety of medical practices. The building's location on Martin Way in Olympia provides excellent visibility and convenient access to Interstate 5, ensuring high traffic flow and easy patient access. The property is zoned HDC-4 and its proximity to a hospital and other medical services makes it particularly attractive for healthcare professionals. Existing tenant build-outs include office and chiropractic spaces, showcasing the building's adaptability to diverse medical needs. The property's APN is 11817231900. This is a rare opportunity to acquire a well-located medical office building with immediate availability in a thriving medical corridor. The building's single-story design and ample parking further enhance its appeal.

• CAP approach

  CAP return

  Valuation

  6%

  $2,895,446

  6.5%

  $2,672,720

  7%

  $2,481,811

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,869,354

  Geo Method

  $2,060,606

• Alternative Use

  Use

  Valuation

  Residential

  $3,314,172

  Hospitality

  $3,035,764

  Educational

  $2,525,720

  Medical

  $2,612,584

  Retail

  $3,928,898

Location Insight

City

Olympia

County

Thurston

State

Washington

Latitude

47.0468

Longitude

-122.843

CBSA code

36500

CBSA name

OLYMPIA, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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