6311 Rich Rd SE - Distribution FOR SALE


Olympia, WA 98501- South Olympia
$13,050,000 USD
206-584-6195
6311 Rich Rd SE, Olympia, WA for Sale
$13,050,000 USD
Distribution - FOR SALE
1/12
null | 6.78% Cap Rate

6311 Rich Rd SE
Olympia, WA 98501
South Olympia


HIGHLIGHTS

  • RARE SUBMARKET MONOPOLY (LI-C ZONING)
  • CRITICAL SCARCITY | 2.4% SUBMARKET VACANCY
  • STABILIZED & TURNKEY ASSET
  • STRATEGIC “CAPTIVE AUDIENCE” LOCATION
  • DIVERSE INCOME & GRANULAR RISK
  • IMMEDIATE REALIZABLE UPSIDE

OVERVIEW

Northmarq is pleased to present the Rainier View Industrial Park, a premier light-industrial asset in Olympia, WA. Comprised of approximately 66,722 square feet across 23 versatile suites, the property benefits from comprehensive recent renovations and a 96.4% occupied rent roll. The asset has been strategically upgraded with modernized suites and intentional infrastructure, positioning it as a turnkey investment that commands interest from a wide variety of tenant profiles. Uniquely situated as the only light-industrial (LI-C) zoned parcel in the immediate area, the property is surrounded by thousands of established residences. This dense residential backdrop creates a captive audience for the park’s service-oriented tenants, providing them with a built-in customer base and ensuring the asset’s long term essentiality to the community. The strength of this asset is further bolstered by a record-low 2.4% vacancy rate for the sub-75,000 SF Thurston County industrial segment. In addition to durable in-place cash flow, multiple value add opportunities remain—including the finalization of a cell tower transaction and the optimization of yard space—providing investors with attractive, realizable upside potential in a high barrier-to-entry submarket.

FOR SALE DETAILS

PRICE

$13,050,000 USD

PRICE/SF

$196 USD /SF

CAP RATE

6.78%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rainier View Industrial Park

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Distribution

ADD'L SUBTYPES

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TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1995

UTILITIES

Lighting, Gas, Water, Sewer, Heating

CLEAR CEILING HT

18 Ft

DOCKS

-

DRIVE INS

2

PARKING SPACES

350

LAND DETAILS

LAND ACRES

5.86

LAND SF

255,262

ZONING

LI-C

APN/PARCEL ID

11706240100,11706240103,11706240105,11706240109,11706240110

ASK ABOUT THIS PROPERTY

RJ VaraNorthmarqMore Info
206-584-6195

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RJ VaraNorthmarqMore Info
206-584-6195

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