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    Property profile & analytics

    116 State NE Ave Olympia, WA 98501-1131

    • Retail space
    • 2,072 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimation
    $375,000
    Last Sale
    Jul 19, 2022
    $399,000
    Location Intelligence
    Property ID
    US90-1747337
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Olympia Budokan - Bujinkan Dojo / Martial Arts School
    • Thailand Oil Spa Body Massage / Massage Spa
    • Thailand oil Asian Massage / Massage Spa / Reflexologist
    • Thailand Oil Massage Asian Spa Olympia / Massage Spa / Massage Therapist

    Property Details for 116 State NE Ave

    Year built
    1946
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.08 lot acres
    Property size
    2,072 SF
    Property type
    Retail space
    APN
    7850-12-00600
    APU
    78501200600

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $375,000

    • CAP approach

      CAP return
      Estimation
      6%
      $415,000
      6.5%
      $360,000
      7%
      $360,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $405,000
      Geo Method
      $400,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $355,000
      Retail
      $415,000
      Mixed-Use
      $350,000
      Hospitality
      $300,000
      Educational
      $415,000
      Residential Income
      $410,000
      Energy
      $395,000
      Income-Based Land
      $340,000
      Food Service
      $410,000

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.901
    Latitude
    47.0461
    CBSA code
    36500
    CBSA name
    OLYMPIA, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,801
    $104,900
    $175,400
    $280,300
    -
    $104,900
    $175,400
    $280,300

    Comparable in this City

    • Value Estimation by Request
      12,604 SF

      325 4th E Ave

      RETAIL STORES (PERSONAL SERVICES) • 12,604 SF
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      View Details
    • Value Estimation by Request
      16,208 SF

      808 5th SE Ave

      RETAIL STORES (PERSONAL SERVICES) • 16,208 SF
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    • Value Estimation by Request
      180 SF

      3200 Pacific SE Ave

      RETAIL STORES (PERSONAL SERVICES) • 180 SF
      3200 Pacific SE Ave, Olympia, WA 98501-2045
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    • Value Estimation by Request
      12,586 SF

      208 Legion SE Way

      RETAIL STORES (PERSONAL SERVICES) • 12,586 SF
      208 Legion SE Way, Olympia, WA 98501-1341
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    • Value Estimation by Request
      266,887 SF

      500 Capitol S Way, Unit 202

      RETAIL STORES (PERSONAL SERVICES) • 266,887 SF
      500 Capitol S Way, Olympia, WA 98501-1204
      View Details
    • Value Estimation by Request
      13,038 SF

      5203 Capitol SW Blvd

      RETAIL STORES (PERSONAL SERVICES) • 13,038 SF
      5203 Capitol SW Blvd, Tumwater, WA 98501-4418
      View Details

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    Similar Nearby for Lease

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    • $1.00 SF/Yr
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      Industrial Space For Lease

      6502 SF industrial space available for lease.
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    • $20 SF/Yr
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      Tumwater Flex/Retail Endcap Unit

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    116 State NE Ave
    Olympia, WA 98501-1131
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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