7529 Old Hwy 99 SE, Olympia, WA 98501
- $1,200,000
Listing Broker: Windermere Prof Partners; Curtis Gibson; 253-691-2521; curtisgibson@windermere.com
- List Price
- $1,200,000
- Status
- ACTIVE
- MLS#
- 2592514
- Days on Market
- 0
- Annual Tax Ammount
- 3864
Property Description
A unique opportunity for aviation enthusiasts and businesses alike! The Olympia Regional Airport offers substantial hangar space, dedicated office facilities, and room for multiple aircrafts. The expansive main hangar, currently leased to an aircraft mechanic, features two oversized hangar doors and enough room to accommodate four planes, plus ample outdoor aircraft parking.The other half of the building is currently configured as a flight school, complete with a welcoming lobby and reception area, lounge, updated kitchen & half bath, private offices, and an exam room as well as a flight simulation area. Additional storage space throughout adds even more functionality. Whether you are looking to expand an aviation business, house your aircraft collection, or simply enjoy being part of the aviation community, this property offers plenty of possibilities. The land is currently leased through the Port of Olympia with approximately 33 years remaining on the lease. Ample dedicated parking is available in front of the building and outside the runway area. Tenant occupied. Showings by appointment only.
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Additional Information
- Community
- Tumwater
- Building Condition
- Updated/Remodeled
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 1948
- # of Assigned Spaces
- 30
- Roof
- Composition, Flat, Metal
- Tax Year
- 2026
- Potential Terms
- Cash
- Flooring
- Concrete, Carpet
- Driving Directions
- From I-5, take the Tumwater Blvd exit to right on Capitol Blvd SW. Follow to building on the right.
- Electric Expenses
- 7900
- Energy Source
- Electric, Natural Gas
- Net Operating Income
- $96,116
- Gross Scheduled Income
- $157,800
- Water/Sewer/Garbage Expenses
- $2,520
- Cap Rate
- 8
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.