520 4th Ave E - Restaurant FOR SALE


Olympia, WA 98501- Downtown Olympia
$1,800,000 USD
360-790-7970
520 4th Ave E, Olympia, WA for Sale
$1,800,000 USD
Restaurant - FOR SALE
1/22
null | 4% Cap Rate

NEW


520 4th Ave E
Olympia, WA 98501
Downtown Olympia


HIGHLIGHTS

  • Rare trophy asset and iconic downtown Olympia landmark
  • 8,400 SF Gothic Revival building on a 0.17-acre corner lot
  • Designed by Joseph Wohleb and built by the Titus family
  • Prime location steps from Olympia City Hall and Capitol Campus
  • Turn-key restaurant infrastructure with walk-ins, vent hoods & Wood Stone pizza oven
  • 812 SF private banquet / event room with separate revenue potential

OVERVIEW

520 4th Ave E, Olympia, WA 98501 – Historic Trophy Asset / Landmark Restaurant & Mixed-Use Building For Sale Rare opportunity to acquire a true trophy asset and one of downtown Olympia’s most recognizable landmark commercial buildings. Located on a prominent corner lot in the heart of downtown and just steps from Olympia City Hall, this 8,400 SF terra cotta–tiled Gothic Revival building offers a compelling blend of architectural character, restaurant infrastructure, and flexible mixed-use potential. The property was designed by renowned architect Joseph Wohleb and built by the Titus family, both instrumental in shaping Olympia’s historic downtown core. Originally part of the early Olympia Motors complex, the building historically served as Ford and later Chevrolet dealership offices and showroom space, before later use as a computer store and, most recently, a restaurant and bar. County records list the construction date as 1927, while historical society references cite 1923. A major change of use occurred in 1988, converting the building to office space and subsequently to a bar and restaurant. Significant renovations were completed in 1999 for anchor tenant Ramblin Jacks, modernizing systems and food-service infrastructure while preserving the building’s historic character. Property Overview Total Building Size: 8,400 SF Lot Size: 0.17-acre corner lot Architecture: Terra cotta–tiled Gothic Revival Construction: Steel-reinforced concrete Stories: Two Historic Designer: Joseph Wohleb Original Builder: Titus family Location: Prime downtown corner, walking distance to Olympia City Hall, Capitol Campus, and core retail and dining amenities Current Configuration 6,136 SF restaurant and bar space 1,200 SF office space 1,064 SF storage / warehouse space 812 SF private banquet / event room, ideal for private dining, meetings, receptions, and catered events The dedicated banquet room provides a separate, monetizable revenue stream for private parties, corporate events, civic gatherings, and special functions, particularly given the building’s close proximity to City Hall, government offices, and downtown venues. Restaurant & Food-Service Infrastructure Two (2) walk-in coolers Two (2) commercial vent hoods One (1) Wood Stone brand wood-fired pizza oven with dedicated ventilation hood Full commercial kitchen layout Bar and dining room configuration Existing grease and utility infrastructure from long-term restaurant use Location & Market Appeal Prominent corner location in downtown Olympia Immediate proximity to Olympia City Hall, government offices, and Capitol Campus Strong pedestrian traffic and daytime population from nearby civic, legal, and office uses Surrounded by retail, dining, cultural venues, and downtown employers Investment Highlights Rare trophy asset and iconic landmark building in downtown Olympia Distinctive historic architecture with exceptional branding and placemaking value Turn-key restaurant infrastructure including venting, walk-ins, and pizza oven Dedicated 812 SF banquet / event room with independent income potential Flexible layout allowing full-building owner occupancy or partial leasing Suitable for restaurant, bar, brewery, tasting room, creative office, showroom, or mixed-use concepts Strong appeal for owner-occupants seeking long-term control of a generational asset Equally attractive for investors pursuing a historic, income-producing trophy property Sale Opportunity The building is offered for sale and represents an exceptional opportunity to acquire a generational trophy asset and downtown Olympia landmark. Its combination of location, architectural significance, proximity to City Hall, and existing restaurant build-out creates a rare offering that is difficult to replicate.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$214 USD /SF

CAP RATE

4%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1927

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

DB

APN/PARCEL ID

78605300400

ASK ABOUT THIS PROPERTY

Michael SmithVan Dorm Realty IncMore Info
360-790-7970

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Michael SmithVan Dorm Realty IncMore Info
360-790-7970

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.