Capital Village is a 155,128 square foot community retail center with a strong value-add component. The property is located approximately 1.5 hours south of Seattle, in Olympia, Washington.
Built in 1979, Capital Village has served the greater Olympia trade area for nearly 4 decades and will trade well below its replacement cost.
The property is anchored by national tenants including Goodwill (Sublease from Safeway), Ace Hardware, Habitat for Humanity, plus the United States Postal Service and Burger King on a pad.
The Property is currently 85.5% occupied, with 22,379 square feet available for lease providing an opportunity to increase NOI by nearly 30%.
16+ acre site with ample parking and flexible zoning that allows for mixed use residential redevelopment.
The average contract rent at Capital Village is well below market with the anchors averaging $4.55/sf NNN.