Olympia Office

iBorrow is lending $8,900,000 on a 2-story, 88,450 square foot office building situated on 4.39 acres in Olympia, Washington. The Property was originally built in 1987 and renovated in 2001, is 74% leased, and has an in-place NOI of roughly $800,000. At a 7.0% cap rate, iBorrow estimates the “As-Is” Value of the Property to be $11,400,000. Once the Property is fully leased, the Property is projected to generate an NOI of $1,200,000 at which time, the Stabilized Value will be approximately $15,000,000, implying a cap rate of 8%.

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  • Property Type Office
  • PurposeRefinance
  • Gross Annual Coupon9.75%
  • Loan Amount$8,900,000
  • Loan to Value62.3%
Location

Olympia, WA

Funding in as few as 14 days

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