116 NE State Avenue · Olympia, WA 98501
Source: NWMLS · WeLakeside · David Li #NWM2518287
About this home
Prime Downtown Investment Opportunity – Fully Leased Retail with Rare On-Site Parking Located in the heart of downtown Olympia, this fully renovated mixed-use retail property presents a rare opportunity for investors seeking stable cash flow and long-term upside (Great CAP Rate). This 2000+ SF building features two fully leased retail storefronts, generating consistent income with strong tenant demand in a high-visibility location. Recent upgrades include a brand-new roof and interior renovations, significantly reducing near-term capital expenditures and enhancing tenant appeal. Ideal for investors seeking a turnkey, income-producing asset with both stability and future appreciation potential.
Basics
- Property type
- Commercial Industrial
- Style
- Industrial
- Year built
- 1946
- Lot size
- 6,098 sq ft (0.14 acres)
- County
- Thurston
- MLS #
- NWM2518287
Interior
- Heating
- Heat Pump
- Cooling
- Heat Pump
- Flooring
- Concrete
Exterior & lot
- Foundation
- Block
Utilities
- Water
- Public
- Sewer
- Sewer Connected
- Power
- Electric
Community & fees
- Subdivision
- Olympia
- Property tax
- $3,097 (2024)
Transaction
- Listed on
- May 5, 2026
- Days on market
- 511
- Listing terms
- Cash, Conventional
- Possession
- Negotiable
More homes nearby
Schools
- High
- Olympia High SchoolSchoolDigger 5 stars · Top 7% in WA
Listing provided courtesy of: WeLakeside
Listing agent: David Li.
Based on information submitted to the MLS GRID as of —. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Data last updated 2026-05-13.