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Property profile & analytics
OFF-MARKET
Estimated value
$2,025,000
Retail space
1515 Black Lk SW Blvd, Olympia, WA 98502-1117
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1559745
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1987
Construction
WOOD FRAME
Total area
8,429 SF
Lot
1.24 ac (54,014 SF)
APN
1282-11-31000
UPID
US90-1559745
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
-
Century Cleaners (Bike/Boat/Book/etc) Store
-
Jiffy Lube Auto Repair Shop
-
UPS Access Point location Courier Service Postal Service
-
Unique Nails Nail Salon
-
Black Lake Grocery & Deli Gas Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.57M
Comparable Approach
Comparable
$1.73M
Blend (final)
Blend
$2.03M
Owner & transaction history
Shri Satya LLC · 1 yrs held
Shri Satya LLC
since 2025
Last sale
$2.4M
7 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%
$1,695,000
6.5%
$1,565,000
7%
$1,455,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,860,000
Current use
Blend value · Realmo final
$2.03M
Range $1.82M – $2.23M · ±10% · vs last sale $2.40M (Dec 13 2024)
Last sale anchor
$2.40M
Dec 13 2024
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
$240 / 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
$38,917
Tax year 2023
Assessed value
$3,907,200
Assessed 2022
Previous assessed
$2,275,600
+71.7% YoY
Effective rate
1.00%
On assessed value
Assessed land
$1,124,900
Assessed improvement
$2,782,300
Land market value
$1,124,900
Improvement market value
$2,782,300
Total market value
$3,907,200
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1987
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
8,429 SF
Lot
1.24 ac (54,014 SF)
APN
1282-11-31000
UPID
US90-1559745
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
RETAIL STORES Current
Est. value
$2.9M
RETAIL STORES Current
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
1987
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
1.24 ac
Current owner
From public records · entity-resolved
Shri Satya LLC
Entity
Mailing address
2711 W VLY HWY N STE #200, AUBURN, WA 98001-1662
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Nov 4, 2025
—
Shri Satya LLC
—
Deed
related
$920,000 · Phillips 66 Company
Mar 13, 2025
$2,400,000
Shri Satya LLC
Cornelius Corner LLC
Warranty Deed
—
—
—
Kyu P Yi
—
Deed Of Trust
related
$130,000 · City Bank
—
—
John W Mckenna JR.
—
Deed Of Trust
related
$885,000 · Heritage Bank
—
—
John W Mckenna
—
Deed Of Trust
related
$1,025,000 · Evertrust Bank
—
—
Sunset Group IV LP
—
Deed Of Trust
related
$750,000 · Us Bank NA
—
—
Goup Sunset IV
—
Deed Of Trust
related
—
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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