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Property profile & analytics
FOR LEASE
Office buildings
1112 Quince St SE Olympia, WA 98501
Entity Owned
~
Est. High Equity
Property ID
US90-1069083
For Lease
1 / 2
$6,265,000
1112 Quince St SE, Olympia, WA 98501
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1983
Construction
WOOD FRAME
Total area
28,488 SF
Lot
0.79 ac (34,412 SF)
APN
7830-59-00600
UPID
US90-1069083
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 Administrative Office of the Courts State Government Office Government Office
-
Vital Chek Network Inc Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.09M
Comparable Approach
Comparable
$6.90M
Blend (final)
Blend
$6.27M
Owner & transaction history
Dpeartment Of Enterprise Services
Dpeartment Of Enterprise Services
since 2026
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.2M
+5.8%
Retail stores
$7.0M
+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%
$6,595,000
6.5%
$6,090,000
7%
$5,655,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$6,810,000
Current use
COMMERCIAL (GENERAL)
$7,205,000
Change: +6% · Conversion: Easy
RETAIL STORES
$7,040,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$6.27M
Range $5.64M – $6.89M · ±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
$220 / 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
$58,198
Tax year 2023
Assessed value
$5,843,500
Assessed 2022
Previous assessed
$3,989,100
+46.5% YoY
Effective rate
1.00%
On assessed value
Assessed land
$733,000
Assessed improvement
$5,110,500
Land market value
$733,000
Improvement market value
$5,110,500
Total market value
$5,843,500
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
For Lease
Year built
1983
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
2
Bathrooms
4
Total area
28,488 SF
Lot
0.79 ac (34,412 SF)
APN
7830-59-00600
UPID
US90-1069083
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
$6.8M
COMMERCIAL (GENERAL)
Est. value
$7.2M
RETAIL STORES
Est. value
$7.0M
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
1983
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
4
Lot
0.79 ac
Current owner
From public records · entity-resolved
Dpeartment Of Enterprise Services
Entity
Mailing address
1 N WACKER DR, CHICAGO, IL 60606-2807
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2026
—
Dpeartment Of Enterprise Services
Olympia Wa I Sge LLC
Deed
—
Jan 3, 2022
$14,100,000
Olympia Wa I Sgf LLC
Vine Street Associates Project Two
Warranty Deed
—
Mar 8, 2013
—
Vine Street Associates Project
—
Deed Of Trust
related
$9,625,000 · Umpqua Bank
Mar 15, 2005
—
St Assocs Vine Project
Vine St Assocs Project II LLC
Quit Claim Deed
related
—
Jul 21, 2003
—
Street Assoc Vine Project
—
Deed Of Trust
related
$13,000,000 · Evertrust Bank
Feb 14, 2000
—
Street Assoc Vine Project
—
Deed Of Trust
related
$1,000,000 · Us Bank NA
—
—
St Assocs Vine Project
—
Deed Of Trust
related
$8,800,000 · Artesia Mortgage Capital Corp
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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