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$736,000 Just Listed

  • For Sale
  • Active
  • Industrial
  • Updated 2 days ago

Listed by David Li | WeLakeside | (425) 246-1453 and Dan Zhou | Globenex Realty | (425) 442-9501

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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.

Full Property Details for 116 NE State Ave

General

  • Price: $736,000
  • Taxes: $3,097 (2024)
  • Status: Active
  • Type: Industrial
  • Source: NWMLS
  • MLS ID: 2518287
  • Updated: 5/6/2026
  • Added to Site: 3 day(s) ago

Interior

  • Flooring: Concrete

Location

  • Area: 447 - Olympia North
  • County: Thurston
  • Subdivision: Olympia
  • Driving Directions: GPS

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Heat Pump
  • Heating Type: Heat Pump

Utilities

  • Sewer: Sewer Connected
  • Water: Public

Structural Information

  • Structure Type: Industrial
  • Foundation: Block
  • Year Built: 1946

Lot Features

  • Lot Size (Acres): 0.14
  • Lot Size (Sq. Ft.): 6,098
  • Lot Size Source: County
  • Zoning: Commercial

Financial Considerations

  • Tax Amount: $3,097
  • Tax Year: 2024
  • Terms: Cash, Conventional

Disclosures and Reports

  • Special Conditions: None
  • Property ID: 78501200600
  • Block: 12
  • Lot Number: 6

Listed by David Li | WeLakeside | (425) 246-1453 and Dan Zhou | Globenex Realty | (425) 442-9501

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Schools serving 116 NE State Ave

School District:Olympia School District
NameGradesDistance
Lincoln Elementary School, Olympia, WA
213 21st Avenue Southeast, Olympia, WA 98501
K-51.1 mi
Olympia Regional Learning Academy B
2400 15th Avenue Southeast, Olympia, WA 98501
K-51.7 mi
Washington Middle School, Olympia, WA
3100 Cain Road Southeast, Olympia, WA 98501
6-82.3 mi
Olympia High School
1302 North Street Southeast, Olympia, WA 98501
9-122.1 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 116 NE State Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
5/05/2026
Listed
$736,000
84.46%
MLS
9/07/2021
Sold
$399,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 116 NE State Ave

Year
Property Taxes
Change
Tax Assessment
Change
2024
$3,098
-4%
$335,100
9%
2025
$3,231
36%
$307,900
23%
2021
$2,378
-15%
$250,500
-11%
2023
$2,801
18%
$280,300
53%
2021
$2,378
1%
$183,800
4%
2020
$2,354
1%
$177,500
-6%
2019
$2,334
-18%
$189,600
-10%
2018
$2,835
3%
$210,400
-5%
2017
$2,765
3%
$221,100
—
2016
$2,686
-1%
$221,200
2%
2015
$2,714
-3%
$216,900
—
2014
$2,788
—
$217,850
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by David Li | WeLakeside | (425) 246-1453 and Dan Zhou | Globenex Realty | (425) 442-9501

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116 NE State Avenue, Olympia, WA 98501 (MLS# 2518287) is a Industrial property. 116 NE State Avenue is currently listed for $736,000 and was received on May 05, 2026. Want to learn more about 116 NE State Avenue? Do you have questions about finding other Industrial real estate for sale in Downtown Olympia? You can browse all Downtown Olympia real estate or contact a Coldwell Banker agent to request more information.

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