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    Property profile & analytics

    9300 Kimmie St Olympia, WA 98512

    • Office buildings
    • 5,000 SF
    • 2.40 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Last Sale
    Dec 29, 2021
    $1,875,000
    Value Estimations
    $1,855,000
    Cap Rate Potential
    3.8%
    Office buildings
    Location Intelligence
    Property ID
    US90-1017169
    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

    • One Hour Heating & Air Conditioning / Hvac Contractor / Air Conditioning Contractor
    • Mister Sparky / Electrician

    Property Details for 9300 Kimmie St

    Year built
    1989
    Construction
    WOOD FRAME
    Lot size
    2.40 lot acres
    Property size
    5,000 SF
    Property type
    Office buildings
    APN
    1272-22-20200
    APU
    12722220200

    Description

    This exceptional commercial property, located at 9300 Kimmie Street SW in Thurston County, offers a unique blend of office space and expansive land. The main building comprises 10,000 square feet, configured as a single-tenant occupancy. Within this substantial space, a 2,272 square foot suite is immediately available, featuring six private offices, a welcoming reception area, two restrooms, a convenient breakroom, and a dedicated workroom. The building's strategic location on 93rd Avenue provides easy access to Interstate 5, enhancing its appeal and accessibility. The property also includes a sizable 2.4-acre lot, presenting opportunities for additional development or yard space lease. The current asking rate for the office suite is $18.00 per square foot annually, with utilities paid separately by the tenant. This presents a compelling investment opportunity for businesses seeking a well-appointed office space combined with the potential for future expansion or supplementary land utilization. The property's combination of established office space and ample land makes it an ideal choice for a variety of commercial ventures. Serious inquiries are encouraged to explore this remarkable property further.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,840,000
      ML approach
      $1,830,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,651,000
      Market price range: $641k - $1.65M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,585,000
      RETAIL STORES
      $1,835,000
      COMMERCIAL (GENERAL)
      $1,725,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.928
    Latitude
    46.9522
    CBSA code
    36500
    CBSA name
    OLYMPIA, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $24,048
    $669,600
    $1,572,500
    $2,242,100
    -
    $669,600
    $1,572,500
    $2,242,100

    Comparable in this City

    • Value Estimation
      $2,125,000
      10,498 SF

      2430 93rd SW Ave

      PROFESSIONAL BUILDING • 10,498 SF
      2430 93rd SW Ave, Olympia, WA 98512-1027
      View Details
    • Value Estimation by Request
      3,012 SF

      6977 Littlerock SW Rd

      PROFESSIONAL BUILDING • 3,012 SF
      6977 Littlerock SW Rd, Tumwater, WA 98512-7246
      View Details
    • Value Estimation
      $2,135,000
      2,896 SF

      1790 Barnes SW Blvd

      PROFESSIONAL BUILDING • 2,896 SF
      1790 Barnes SW Blvd, Tumwater, WA 98512-0410
      View Details
    • Value Estimation by Request
      1,011 SF

      2620 R W Johnson Blvd Sws

      PROFESSIONAL BUILDING • 1,011 SF
      2620 R W Johnson Blvd Sws, Tumwater, WA 98512-5003
      View Details
    • Value Estimation by Request
      800 SF

      2558 R W Johnson Blvd Sw Ste, Unit 100

      PROFESSIONAL BUILDING • 800 SF
      2558 R W Johnson Blvd Sw Ste, Tumwater, WA 98512-6113
      View Details
    • Value Estimation by Request
      1,280 SF

      2646 R W Johnson Blvd Sw Ste, Unit 108

      PROFESSIONAL BUILDING • 1,280 SF
      2646 R W Johnson Blvd Sw Ste, Tumwater, WA 98512-5630
      View Details

    Similar Nearby for Sale

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      Ground Leased Wendy's For Sale

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    Similar Nearby for Lease

    • $20 SF/Yr
      3,200 SF

      Turn-Key Office Space Available

      Renovated office space near I-5 with flexible layout.
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      View Details
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      View Details
    • $18 SF/Yr
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      Kimmie Street Office & Land

      Prime Thurston County Office Space, 2.4 Acres
      9300 Kimmie St, Olympia, WA 98512
      View Details
    • $20 SF/Yr
      3,200 SF

      Renovated Office Space Near I-5

      Recently renovated office space with flexible layout, minutes from I-5.
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      View Details
    • $3,200 /Mo
      3,193 SF

      Office Space with Warehouse

      Office space with warehouse and showroom potential in Tumwater.
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      View Details
    • Contact for pricing
      339,420 SF

      Tumwater Industrial Building For Lease

      339,420 SF industrial building with convenient I-5 access.
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      View Details
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    9300 Kimmie St
    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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