521 Capitol
521 Capitol Way South
Olympia,
WA 98501
Property Summary
| Price | $3,750,000 |
| Price Per Unit | $23,006 |
| Lot Size Acres | 0.58 |
| Lot Size SF | 25,200 |
Investment Highlights
- Located in a Qualified Opportunity Zone
- Downtown Business District (DB) Zoning
- In the Heart of Olympia’s Downtown Historic District
- Covered Land Play
- Full Half-Block Site Allowing for Corner to Corner Frontage
- Water & Capitol Views
Property Description
The Mogharebi Group is pleased to present the opportunity to acquire 521 Capitol, a unique development site located at the intersection of Capitol Way South and Legion Way Southwest in Olympia, Washington. The site is perfectly situated to capitalize on an abundance of nearby tenant amenities, these include restaurants, retail shops, libraries, theatres, parks, and historical monuments. Additionally, further location based benefits can be found in the parcel’s zoning as the development site is uniquely placed in both an Opportunity Zone and a Downtown Business District Zone. Designation in an Opportunity Zone allows for possible preferential tax treatment while the Downtown Business District Zoning is very unrestrictive allowing for no parking, no setbacks, and no maximum density
521 Capitol Way South
Olympia, WA 98501
Olympia, WA 98501
Situated at the base of the Olympic Peninsula, Olympia serves as Washington’s state capital and is a vibrant community that blends a strong economy with the area’s natural beauty. With its strategic location within 60 miles of Seattle, Tacoma, and Bremerton, Olympia offers easy access to the major employment, entertainment, and educational centers throughout the Puget Sound region.
Listing Advisors
Ryan Kidwell