Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1403 Garfield NW Ave Olympia, WA 98502-4924

    • Office Properties & Spaces
    • 2,700 SF
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    Oct 03, 2024
    $525,000
    Value Estimations
    $525,000
    Show details
    Cap Rate Potential
    4.2%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US90-1612262
    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

    • Cheryl A. Plaza, ND / Alternative Medicine Practice
    • Steven M. Plaza, ND / Alternative Medicine Practice
    • Northwest Center-Natural Medicine / Medical Clinic / Alternative Medicine Practice
    • Pacific Martial Arts of Olympia / Vocational School

    Property Details for 1403 Garfield NW Ave

    Year built
    1972
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.25 lot acres
    Property size
    2,700 SF
    Property type
    Office Properties & Spaces
    APN
    8500-31-01500
    APU
    85003101500

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $525,000
      ML approach
      $525,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $370,000
      6.5%
      $340,000
      7%
      $315,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $459,000
      Market price range: $338k - $1.15M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $685,000
      Current use
      OFFICE BUILDING
      $620,000
      Change: -9% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.919
    Latitude
    47.047
    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
    2024
    $4,034
    $108,900
    $276,600
    $385,500
    -
    $108,900
    $276,600
    $385,500

    Comparable in this City

    • Value Estimation by Request
      1,035 SF

      1025 Black Lk Blvd Sw Ste 1d

      CONDOMINIUM OFFICES • 1,035 SF
      1025 Black Lk Blvd Sw Ste 1d, Olympia, WA 98502-1120
      View Details
    • Value Estimation by Request
      200 SF

      3044 Steamboat NW Is

      OFFICE (GENERAL) • 200 SF
      3044 Steamboat NW Is, Olympia, WA 98502-9723
      View Details
    • Value Estimation
      $2,395,000
      15,648 SF

      919 Lakeridge SW Way

      OFFICE (GENERAL) • 15,648 SF
      919 Lakeridge SW Way, Olympia, WA 98502-6026
      View Details
    • Value Estimation
      $835,000
      4,064 SF

      1605 Cooper Pt NW Rd

      OFFICE (GENERAL) • 4,064 SF
      1605 Cooper Pt NW Rd, Olympia, WA 98502-8325
      View Details
    • Value Estimation
      $1,135,000
      8,784 SF

      2024 Caton SW Way

      OFFICE (GENERAL) • 8,784 SF
      2024 Caton SW Way, Olympia, WA 98502-8201
      View Details
    • Value Estimation by Request
      1,040 SF

      2225 Cooper Pt SW Rd

      OFFICE (GENERAL) • 1,040 SF
      2225 Cooper Pt SW Rd, Olympia, WA 98502-1052
      View Details

    Similar Nearby for Sale

    • $2,200,000
      9 SF

      Renovated Olympia Office Building For Sale

      Completely renovated office building with excellent parking, near Highway 101.
      2411 Chandler Ct SW Olympia, Olympia, WA 98502
      View Details
    • $335,000
      1,479 SF

      Medical Condo For Sale

      Medical condo with traditional layout, suitable for owner-user.
      403 Black Hills Ln SW, Olympia, WA 98502
      View Details
    • $2,200,000

      Renovated Olympia Office Building For Sale

      Completely renovated office building near Highway 101 and Interstate 5.
      2411 Chandler Ct SW, Olympia, WA 98502
      View Details
    • $850,000
      6,505 SF

      Olympia Commercial Building For Sale

      Mid-century modern building with diverse tenants and on-site parking.
      1015 W 4Th Ave, Olympia, WA 98502
      View Details
    • $895,000
      6,505 SF

      Olympia Mixed-Use Investment Opportunity

      Mid-century modern building suitable for owner/user or investment.
      1015 4Th Ave, Olympia, WA 98502
      View Details
    • $300,000
      1,006 SF

      Olympia Westside Office Opportunity

      Versatile office space in desirable Olympia Westside location.
      1700 Cooper Point Rd SW, Olympia, WA 98502
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      35,651 SF

      Prime Olympia Office Building

      Waterfront Views, Ample Parking, Class A
      1115 Bay Dr, Olympia, WA 98502
      View Details
    • $26 SF/Yr
      23,557 SF

      Smyth Landing: Class A Office Space

      Premium Waterfront Office Building, Olympia
      1801 Bay Dr, Olympia, WA 98502
      View Details
    • $20 SF/Yr
      6,600 SF

      Olympia Office Space For Rent

      Office space for rent in Olympia, Washington.
      3000 Limited Ln NW, Olympia, WA 98502
      View Details
    • $15 SF/Yr
      17,902 SF

      Three-Story Office Building Near Courthouse

      Three-story office building with high-end finishes and good parking.
      2424 Bristol Ct Southwest, Olympia, WA 98502
      View Details
    • $24 SF/Yr
      1,763 SF

      Updated Commercial Space on Yauger

      Updated commercial space suitable for various professional uses.
      406 Yauger Way SW, Olympia, WA 98502
      View Details
    • $18 SF/Yr
      2,043 SF

      Olympia Retail or Office Space

      2043 SF retail/office space with high visibility, ample parking.
      2410 Harrison Ave NW, Olympia, WA 98502
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1403 Garfield NW Ave
    Olympia, WA 98502-4924
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.