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Property profile & analytics
OFF-MARKET
Estimated value
$2,300,000
Grocery and convenience stores
1010 Fones SE Rd, Olympia, WA 98501-2107
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-1583299
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,035 SF
Lot
1.56 ac (67,954 SF)
Zoning code
GC
APN
3620-04-00100
UPID
US90-1583299
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
-
Unified Grocers Smart & Final Grocery & Convenience Store Food Market
-
US Foods CHEF'STORE Grocery & Convenience Store Distribution Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.42M
Blend (final)
Blend
$2.30M
Owner & transaction history
City Of Olympia · 3 yrs held
City Of Olympia
since 2023
6 recorded transactions
Zoning & alternative use
GC · Olympia, WA
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.30M
Range $2.07M – $2.53M · ±10%
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
$115 / 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
$28,302
Tax year 2023
Assessed value
$2,877,400
Assessed 2022
Previous assessed
$1,905,000
+51.0% YoY
Effective rate
0.98%
On assessed value
Assessed land
$714,500
Assessed improvement
$2,162,900
Land market value
$714,500
Improvement market value
$2,162,900
Total market value
$2,877,400
Applied tax rate
114.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
20,035 SF
Lot
1.56 ac (67,954 SF)
Zoning code
GC
APN
3620-04-00100
UPID
US90-1583299
Jurisdiction
THURSTON
Zoning & alternative use
GC · Olympia, WA
Zoning GC · permitted uses
GC · Olympia, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Olympia. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
1.56 ac
Current owner
From public records · entity-resolved
City Of Olympia
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 1967, OLYMPIA, WA 98507-1967
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2023
—
City Of Olympia
Olympia III LLC
Warranty Deed
—
Aug 18, 2017
—
Olympia III LLC
—
Deed
related
$1,875,000 · Miscellaneous Ins Co
Mar 26, 2015
$3,333,000
Olympia III LLC
Cash & Carry Stores LLC
Grant Deed
—
Dec 15, 2014
$290,000
Cash & Carry Stores LLC
Crocker Valley LLC
Grant Deed
—
Apr 9, 2004
$2,000,000
Crocker Valley LLC
Morton,tr
Grant Deed
$1,425,000 · Rainier Pacific Bank
—
—
Olympia III LLC
—
Deed Of Trust
related
$1,875,000 · Miscellaneous Ins Co
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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