9105 Martin Way E $2,350,000

    Close

    9105 Martin Way E Olympia, WA 98516

    • 0.85 Acres
    • Commercial/Industrial
    Listing# 1436587 | Active

    $2,350,000

    Request Info
    Days On Market: 166 1 Views
    Add to Favorites Share

    Go Tour This Home

    Schedule A Showing

    Property Details

    Very successful Car Wash & Drive Thru Espresso Business fronting on Martin Way East, which currently has a car count of over 40,000 vehicles daily. Several hundred new apartment units have been built within a one mile radius of this property in the past few years and more are planned. Featuring 2 Touch-Free Automatic Bays, 4 Self- Serve bays, plus vacuum stations etc. The Drive-Up Coffee/Espresso business has many loyal customers. Listed at an 11% Cap Rate based on actual 2018 Net Income.

    • General Features
      • County Thurston
      • Zoning Class Commercial
      • Zoning Jurisdiction City
      • Style 60-Comm Bldg Und 10K
      • Approx Building SqFt 4,368
      • Approx Whse/Mfg SqFt 4,060
      • Approx Office SqFt 308
      • Total Uncovered Parking 30
      • Total Covered Parking 6
      • Lot Dimensions 200 x 192
    • Building Features
      • Exterior Brick, Cement/Concrete
      • Foundation Poured Concrete, Slab
      • Roof Composition
      • Floor Covering Concrete
      • Features Signage Included, Storage
      • Ceiling Height 12
    • Property Features
      • Lot Square Footage 36,920
      • Depth of Lot 192
      • Site Frontage 200
      • Expansion Area N
      • Environment Survey N
      • Water-Sewer-Garbage 59171
      • Sewer Sewer Connected
      • Sewer Company City of Lacey
      • Energy Source Electric, Natural Gas
      • Power Company P.S.E.
      • Number of Available Pads 0
      • Pad Ready N
    • Financials
      • Free and Clear N
      • Vacancy Rate 0
      • Total SqFt Rented 0
      • Total Monthly Rent $0
      • Gross Rent Multiplier 3
      • Cap Rate -NOI div LP 11
      • Gross Scheduled Income $921,269
      • Gross Adjusted Income $921,269
      • Total Expenses $661,861
      • NOI $259,408
      • Electrical Expenses $6,670
      • Tax Expense $9,784
      • Heating Expense $3,060
      • Insurance Expense $4,341
      • Annual Assoc. Dues $0
      • Other Expenses $578,835
      • Tax Year 2019

    Contact

    Neighborhood

    98516 (Olympia) Demographics

    40Median Age
    792Population Density (per sq. mile)
    47%College Educated
    $69,370 Estimated Median Income
    6,148Estimated Total Home Owners
    2,566Estimated Total Renters
    71% / 29%Estimated Owner / Renter Divide
    3Estimated Average Household Size
    22,697Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days

    $415,997 Median Sales Price
    68 Homes Sold
    0 New On Market

    Average Days on Market

      Properties for Sale

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $2,350,000
        7/18/2019 12:31:29 PM Status Changed Source New Value: Active
        6/6/2019 1:01:20 PM Status Changed Source New Value: Pending Feasibility
        4/8/2019 5:01:00 PM New in Database Source

        Payment Calculator

        $0 per month
        Year Fixed, Interest
        Principal and Interest
        $0
        Property Taxes
        Homeowners' Insurance

        Home Price
        Down Payment

        This property search is part of the Reliance Network website. Listing information is courtesy of the WA-NWMLS and Reliance Network. Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with this symbol: provided by Northwest Multiple Listing Service, 2019. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental Information has not been verified by agent and should be verified by buyer.