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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Retail space
101 Milroy NW St, Olympia, WA 98502-5120
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0863510
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1948
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,126 SF
Lot
0.13 ac (5,663 SF)
APN
8500-38-01100
UPID
US90-0863510
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cedar + Rose Salon Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$580k
CAP Approach
CAP
$395k
Comparable Approach
Comparable
$493k
Blend (final)
Blend
$595k
Owner & transaction history
Marc David Lortz · 1 yrs held
Marc David Lortz
since 2025
Last sale
$599,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Olympia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Olympia submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$600,000
ML approach
$580,000
CAP Approach
CAP Return
Estimation
6%
$430,000
6.5%
$395,000
7%
$365,000
Blend value · Realmo final
$595k
Range $536k – $655k · ±10% · vs last sale $599k (Mar 7 2025)
Last sale anchor
$599k
Mar 7 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$280 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,550
Tax year 2023
Assessed value
$355,600
Assessed 2022
Previous assessed
$305,000
+16.6% YoY
Effective rate
1.00%
On assessed value
Assessed land
$54,400
Assessed improvement
$301,200
Land market value
$54,400
Improvement market value
$301,200
Total market value
$355,600
Applied tax rate
110.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1948
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
2,126 SF
Lot
0.13 ac (5,663 SF)
APN
8500-38-01100
UPID
US90-0863510
Jurisdiction
THURSTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1948
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Marc David Lortz
Individual
Mailing address
8346 83RD AVE SE, OLYMPIA, WA 98513-5611
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 7, 2025
$599,000
Marc David Lortz
Rivas Equity Group LLC
Warranty Deed
$479,200 · Rivas Equity Group LLC
Dec 31, 2018
$315,000
Rivas Equity Group LLC
Johnson Robert S Trust
Warranty Deed
—
Aug 30, 2012
—
Johnson Robert S Trust
Randall Joseph A Trust
Quit Claim Deed
related
—
Mar 5, 2012
—
Randall Joseph A Trust
Randall,joseph A
Quit Claim Deed
related
—
Mar 8, 2006
$240,000
Joseph A Randall
Hammer,samuel N JR
Warranty Deed
$204,000 · Bank Of America
Jul 26, 1989
$70,000
Samuel N Hammer JR
Unknown
Grant Deed
—
Jul 25, 1988
$65,000
John John Naughton III
Tax, John F.
Grant Deed
$1,750
—
—
Samuel N Hammer
—
Deed Of Trust
related
$65,000 · Heritage Savings Bank Fsb
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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