7515 Terminal StTumwater, WA 98501

Property Details for 7515 Terminal St

Lot size

7.58 AC

Zone code

LI

Property type

Commercial land

APN

1271-01-10400

APU

12710110400

Description

This exceptional investment opportunity presents a fully leased, stabilized mixed-use property located in Tumwater, WA, at 7515 and 7511 Terminal St SW. The property comprises two buildings totaling 26,461 square feet on a 3.36-acre lot, zoned ARI. A 9,792 square foot office building and a 11,698 square foot hangar/warehouse with runway access are included. The property benefits from a prime location adjacent to the Olympia Airport and with convenient access to I-5. The Washington State Department of Natural Resources occupies both buildings under leases extending to 2026 and 2028, respectively, ensuring strong, consistent cash flow. The land lease with the Port of Olympia runs until 2044, with four five-year extension options providing long-term security. Built in 1987 and renovated in 2023, this Class B property boasts a strong 8.25% cap rate, a $218,355 net operating income (NOI), and an asking price of $2,646,683 ($100.02 per square foot). This is a rare opportunity to acquire a high-performing, fully leased asset with significant long-term potential in a desirable location. The property features a modified lease type and is a single-tenancy investment.

Location Insight

City

Tumwater

County

Thurston

State

Washington

Latitude

46.9791

Longitude

-122.909

CBSA code

36500

CBSA name

OLYMPIA, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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