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Property profile & analytics
FOR SALE
Grocery and convenience stores
112 Cherry NE St Olympia, WA 98501
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US90-1728823
For Sale
1 / 11
$1,175,000
112 Cherry NE St, Olympia, WA 98501
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,867 SF
Lot
0.14 ac (6,098 SF)
APN
7820-04-00200
UPID
US90-1728823
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
$1.09M
Comparable Approach
Comparable
$595k
Blend (final)
Blend
$865k
Owner & transaction history
112 Cherry LLC · 13 yrs held
112 Cherry LLC
since 2013
6 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,180,000
6.5%
$1,090,000
7%
$1,010,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,405,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$865k
Range $779k – $952k · ±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
$147 / 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
$12,029
Tax year 2023
Assessed value
$1,207,100
Assessed 2022
Previous assessed
$812,800
+48.5% YoY
Effective rate
1.00%
On assessed value
Assessed land
$178,100
Assessed improvement
$1,029,000
Land market value
$178,100
Improvement market value
$1,029,000
Total market value
$1,207,100
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Sale
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Bathrooms
0
Total area
5,867 SF
Lot
0.14 ac (6,098 SF)
APN
7820-04-00200
UPID
US90-1728823
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
Est. value
$1.4M
OFFICE BUILDING
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
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
0
Lot
0.14 ac
Current owner
From public records · entity-resolved
112 Cherry LLC
Entity
Mailing address
120 STATE AVE NE, OLYMPIA, WA 98501-1131
Ownership since
2013
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 24, 2023
—
112 Cherry LLC
—
Deed
related
$1,200,000 · Brad Castle
Mar 29, 2013
—
112 Cherry LLC
Richard Allan Castle
Quit Claim Deed
related
$217,200 · Anchor Bank
Dec 19, 1991
$115,000
Richard A Castle
Unknown
Grant Deed
—
—
—
Richard A Castle
—
Deed Of Trust
related
$245,000 · West Coast Bank
—
—
Richard A Castle
—
Deed Of Trust
related
$228,914 · Centennial Bank
—
—
112 Cherry LLC
—
Loan Modification
related
$60,000 · Anchor Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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