Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Office buildings
116 Lee SE St Tumwater, WA 98501-6721
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1200723
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1980
Construction
WOOD FRAME
Total area
2,808 SF
Lot
0.15 ac (6,534 SF)
APN
4410-03-01600
UPID
US90-1200723
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
$615k
CAP Approach
CAP
$600k
Comparable Approach
Comparable
$602k
Blend (final)
Blend
$565k
Owner & transaction history
City Of Tumwater · 3 yrs held
City Of Tumwater
since 2023
Last sale
$500,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$710,000
+5.8%
Retail stores
$695,000
+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
$580,000
ML approach
$615,000
CAP Approach
CAP Return
Estimation
6%
$650,000
6.5%
$600,000
7%
$555,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$670,000
Current use
COMMERCIAL (GENERAL)
$710,000
Change: +6% · Conversion: Easy
RETAIL STORES
$695,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$565k
Range $509k – $622k · ±10% · vs last sale $500k (Mar 29 2023)
Last sale anchor
$500k
Mar 29 2023
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
$201 / 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
$4,973
Tax year 2023
Assessed value
$509,600
Assessed 2022
Previous assessed
$413,900
+23.1% YoY
Effective rate
0.98%
On assessed value
Assessed land
$73,100
Assessed improvement
$436,500
Land market value
$73,100
Improvement market value
$436,500
Total market value
$509,600
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
1980
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
2
Bathrooms
4
Total area
2,808 SF
Lot
0.15 ac (6,534 SF)
APN
4410-03-01600
UPID
US90-1200723
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
$670,000
COMMERCIAL (GENERAL)
Est. value
$710,000
RETAIL STORES
Est. value
$695,000
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
1980
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
4
Lot
0.15 ac
Current owner
From public records · entity-resolved
City Of Tumwater
Entity
Mailing address
555 ISRAEL RD SW, TUMWATER, WA 98501-6515
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 29, 2023
$500,000
City Of Tumwater
Dj Properties II LLC
Warranty Deed
—
Aug 22, 2013
—
Dj Properties II LLC
Terhune,donna L
Quit Claim Deed
related
—
Nov 30, 2001
—
Dj Properties
Terhune,donna L
Quit Claim Deed
related
$135,000 · Heritage Savings Bank Fsb
Mar 23, 1992
$178,000
Donna Etal Terhune
Unknown
Grant Deed
—
—
—
Donna Terhune
—
Deed Of Trust
related
$20,000 · Centennial 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 116 Lee SE St?
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.
