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    Property profile & analytics

    8034 Fairview Rd Olympia, WA 98512

    • Commercial real estate
    • 7.62 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1745755
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 8034 Fairview Rd

    Lot size
    7.62 lot acres
    Property type
    Commercial real estate
    APN
    12708230200

    Description

    This exceptional 7.62-acre property in Olympia, Washington, presents a unique opportunity. Located at 8034 Fairview Rd SW, 98512, this Thurston County land boasts a sizable 331,927 square-foot lot, mostly level, and features a creek running through it. Zoned SFL, the property is ideal for recreational uses such as weekend camping and RV parking/storage. Due to its shape, floodplain, and wetland areas (with completed reconnaissance), it may not be suitable for residential construction. Utilities including power, water, and gas are indicated as available, though located at a distance from the property at the main road. A septic system would be required for sewer. The property is conveniently located within a 10-15 minute drive of shopping, dining, and entertainment in Tumwater and Olympia, with abundant outdoor recreational opportunities nearby. The property is being sold AS-IS. The APN is 12708230200. This is a fantastic opportunity to acquire a large parcel of land in a desirable location at a reduced price of $29,900.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.96876
    Latitude
    46.9743039

    Comparable in this City

    • $825,000

      Multifamily Zoned Property in Tumwater

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      Tumwater Hill Development Site

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      Tumwater Duplex with City Views

      Well-maintained duplex on a corner lot with development potential.
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      Spacious Home in 55+ Community

      Move-in ready 2 bed, 2 bath home in Tumwater.
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    Similar Nearby for Sale

    • $825,000

      Multifamily Zoned Property in Tumwater

      Multifamily zoned property near I-5 with income potential.
      5012 Rural Rd, Tumwater, WA 98512
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    • $2,500,000
      267,894 SF

      Tumwater Hill Development Site

      60-unit townhome development site with approved entitlements in Tumwater, WA.
      2801 Barnes Blvd SW, Tumwater, WA 98512
      View Details
    • $599,000

      Versatile Horse Property with Income

      Horse property with arena, barn, living quarters, and income potential.
      Case Rd, Olympia, WA 98512
      View Details
    • $399,000
      2,227 SF

      Updated Condo with Lake Views

      Move-in ready condo featuring new appliances and lake access.
      1500 Lake Park Dr SW, Tumwater, WA 98512
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    • $409,900
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      Tumwater Duplex with City Views

      Well-maintained duplex on a corner lot with development potential.
      522 H St SW, Tumwater, WA 98512
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    • $85,000
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      Updated Home near Black Lake

      Move-in ready home with lake access and updated features.
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    Similar Nearby for Lease

    • $18 SF/Yr
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      Kimmie Street Office & Land

      Prime Thurston County Office Space, 2.4 Acres
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    • $3,500 /Mo

      Heavy Industrial Land For Lease

      7 acres of heavy industrial land with convenient highway access.
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      Renovated Office Space Near I-5

      Recently renovated office space with flexible layout, minutes from I-5.
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      Tumwater Warehouse Space Available

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      5017 Joppa St SW, Tumwater, WA 98512
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      Retail Space in Tumwater, WA

      Retail space available for lease in Tumwater, Washington.
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      Office Space with Warehouse

      Office space with warehouse and showroom potential in Tumwater.
      2840 Crites St SW, Tumwater, WA 98512
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    8034 Fairview Rd
    Olympia, WA 98512
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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