Mottman Building - Olympia, WA

UNBEATABLE LOCATION IN THE HEART OF THE STATE CAPITOL

Located on the most heavilytrafficked thoroughfare indowntown Olympia, this propertyis strategically located to capturea significant amount of foot andvehicle traffic

FULLY LEASED WITH VALLUE-ADD OPPORTUNITY

This asset currently sits at 100%occupancy and features staggeredlease expirations allowing investorsto adjust rates accordingly to morefavorable terms

PRIVATE PARKING

Ample parking is available acrossCapitol Way, in a 30-stall lot that isincluded in the sale offering

 

The Vara Group is pleased to present the opportunity to
acquire the fee simple interest in the historic Mottman
Building, a mixed-use building in the heart of downtown
Olympia, the capitol of Washington state (“The Offering”).
Mostly consisting of small office and mid-sized storefront
retail suites, the Offering boasts strong historical
occupancy and a 30-stall private parking lot that generates
additional income. Situated along the most heavily
trafficked thoroughfare in downtown Olympia, the building
was constructed in 1888 and expanded in 1911. A full
seismic retrofit was completed to shore up the structure
and enhance the enduring quality of this historic property,
which has been professionally managed for decades.

The Offering resides in the Downtown Olympia Historic
District and is listed on the National Register of Historic
Place, which brings building code lenience and tax benefits.
Additionally, The Offering is in a Qualified Opportunity Zone
adding further tax incentives allowing investors to defer
capital gains .

An incoming investor will enjoy an attractive in-place return
and scheduled annual rent increases as a hedge against
inflation. Additional upside can be achieved through raising
parking stall rates to market and renegotiating certain below
market rents to market upon renewals.