Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$14,580,000
Office buildings
1111 Israel SW Rd Tumwater, WA 98501-6512
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0621729
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2008
Construction
STEEL FRAME
Total area
56,318 SF
Lot
2.36 ac (102,802 SF)
APN
8270-06-00100
UPID
US90-0621729
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$12.04M
Comparable Approach
Comparable
$10.35M
Blend (final)
Blend
$14.58M
Owner & transaction history
Thurston County · 1 yrs held
Thurston County
since 2025
Last sale
$14.3M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$14.2M
+5.8%
Retail stores
$13.9M
+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 Tumwater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tumwater 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%
$13,040,000
6.5%
$12,035,000
7%
$11,180,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$13,465,000
Current use
COMMERCIAL (GENERAL)
$14,240,000
Change: +6% · Conversion: Easy
RETAIL STORES
$13,920,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$14.58M
Range $13.12M – $16.04M · ±10% · vs last sale $14.25M (Oct 31 2024)
Last sale anchor
$14.25M
Oct 31 2024
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
$259 / 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
$202,003
Tax year 2023
Assessed value
$20,737,900
Assessed 2022
Previous assessed
$15,252,800
+36.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$1,354,800
Assessed improvement
$19,383,100
Land market value
$1,354,800
Improvement market value
$19,383,100
Total market value
$20,737,900
Applied tax rate
440.0000
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
2008
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
3
Total area
56,318 SF
Lot
2.36 ac (102,802 SF)
APN
8270-06-00100
UPID
US90-0621729
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
$13.5M
COMMERCIAL (GENERAL)
Est. value
$14.2M
RETAIL STORES
Est. value
$13.9M
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
2008
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
3
Lot
2.36 ac
Current owner
From public records · entity-resolved
Thurston County
Entity
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
20 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2025
$14,250,000
Thurston County
1111 Israel Road LLC
Bargain & Sale Deed
—
Jan 31, 2022
—
Environmental & Land Use Hearings O
1111 Israel Road LLC
Lease
—
Jan 7, 2014
$16,700,000
1111 Israel Road LLC
Parchi LLC
Warranty Deed
—
Feb 13, 2012
—
Parchi LLC
Marine View INC
Warranty Deed
—
Feb 4, 2010
—
M Parsons Plaza LLC
—
Trustees Deed
related
$765,439 · Berschauer/phillips Const Co
Dec 30, 2009
—
Marine View INC
M Parsons Plaza LLC
Warranty Deed
—
Aug 30, 2007
—
M Parsons Plaza LLC
Parsons,michael & Stefani
Quit Claim Deed
related
—
Nov 16, 2006
$300,000
Michael Parsons
Tjossem,robert P & Linda L
Warranty Deed
$150,000 · Robert P & Linda L Tjossem
Aug 3, 2006
—
Stephens Living Trust
Stephens,duane M & Irene A
Quit Claim Deed
related
—
Dec 4, 2002
—
A Bratton Est Walter
Harris,tr
Grant Deed
related
—
Apr 9, 1999
—
Robert P Tjossem
Evergreen Olympic Realty Profi
Grant Deed
related
—
Feb 19, 1999
—
Robert Tjossem
Evergreen/olympic Realty & Pp
Quit Claim Deed
related
—
Jan 2, 1992
$373,750
Olympic Realty Profit Etal
Unknown
Grant Deed
—
—
—
M Parsons Plaza LLC
—
Deed Of Trust
related
$10,800,000 · Seattle Savings Bank
—
—
Marine View INC
—
Deed Of Trust
related
$750,000 · Thurston First Bank
—
—
M Parsons Plaza LLC
—
Deed Of Trust
related
$250,000 · Thurston First Bank
—
—
M Parsons Plaza LLC
—
Deed Of Trust
related
$750,000 · Thurston First Bank
—
—
M Parsons Plaza LLC
—
Deed Of Trust
related
$11,250,000 · Seattle Savings Bank
—
—
M Parsons Plaza LLC
—
Deed Of Trust
related
$11,187,516 · Seattle Savings Bank
—
—
Marine View INC
—
Deed Of Trust
related
$250,000 · Thurston First Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1111 Israel SW Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
