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Property profile & analytics
OFF-MARKET
Estimated value
$1,380,000
Office buildings
110 5th SE Ave Olympia, WA 98501-6976
Entity Owned
Free & Clear
Property ID
US90-1694457
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1890
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,759 SF
Lot
0.12 ac (5,227 SF)
APN
7850-14-00601
UPID
US90-1694457
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
-
Washington State Institute for Public Policy State Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.87M
Comparable Approach
Comparable
$969k
Blend (final)
Blend
$1.38M
Owner & transaction history
Department Of Enterprise Serives
Department Of Enterprise Serives
since 2026
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.2M
+5.8%
Retail stores
$2.2M
+3.4%
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%
$2,030,000
6.5%
$1,870,000
7%
$1,740,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,095,000
Current use
COMMERCIAL (GENERAL)
$2,215,000
Change: +6% · Conversion: Easy
RETAIL STORES
$2,165,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$1.38M
Range $1.24M – $1.52M · ±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
$158 / 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
$19,248
Tax year 2023
Assessed value
$1,932,000
Assessed 2022
Previous assessed
$1,398,700
+38.1% YoY
Effective rate
1.00%
On assessed value
Assessed land
$186,500
Assessed improvement
$1,745,500
Land market value
$186,500
Improvement market value
$1,745,500
Total market value
$1,932,000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1890
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Bathrooms
1
Total area
8,759 SF
Lot
0.12 ac (5,227 SF)
APN
7850-14-00601
UPID
US90-1694457
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
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.2M
RETAIL STORES
Est. value
$2.2M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1890
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Department Of Enterprise Serives
Entity
Free & Clear · 0 yrs held
Mailing address
3434 MARTIN WAY E STE #5, OLYMPIA, WA 98506-5067
Ownership since
2026
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
Feb 2, 2026
—
Department Of Enterprise Serives
K B J Investments
Deed
—
Dec 12, 2017
—
Kbj Investments LLC
—
Grant Deed
related
$8,000,000 · Timberland Bk
May 31, 2006
—
Kbj Investments LLC
Kbj Investments
Quit Claim Deed
related
—
Jan 30, 2002
—
Kbj Investments LLC
—
Deed Of Trust
related
$3,836,250 · Timberland Bank
Jun 7, 1995
—
K B J Investments
Cooper,stephen A & Bobbie J
Quit Claim Deed
related
$800,000 · Prairie Security Bank
Sep 27, 1991
$275,578
Kbj Investments
Unknown
Grant Deed
—
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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