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Property profile & analytics
FOR LEASE
Office buildings
1570 Irving St SW, Tumwater, WA 98512
Entity Owned
1-yr Hold
Free & Clear
Property ID
US90-0472568
For Lease
$22 SF/Yr
1570 Irving St SW, Tumwater, WA 98512
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2005
Construction
STEEL FRAME
Total area
28,380 SF
Lot
1.53 ac (66,647 SF)
APN
5572-00-00300
UPID
US90-0472568
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
$6.07M
Comparable Approach
Comparable
$5.61M
Blend (final)
Blend
$5.07M
Owner & transaction history
Mph Holdings LLC · 1 yrs held
Mph Holdings LLC
since 2025
4 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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,570,000
6.5%
$6,065,000
7%
$5,635,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,675,000
Current use
Blend value · Realmo final
$5.07M
Range $4.56M – $5.57M · ±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
$178 / 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
$55,273
Tax year 2023
Assessed value
$5,674,300
Assessed 2022
Previous assessed
$5,982,700
-5.2% YoY
Effective rate
0.97%
On assessed value
Assessed land
$411,500
Assessed improvement
$5,262,800
Land market value
$411,500
Improvement market value
$5,262,800
Total market value
$5,674,300
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
For Lease
Year built
2005
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
3
Total area
28,380 SF
Lot
1.53 ac (66,647 SF)
APN
5572-00-00300
UPID
US90-0472568
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
$5.7M
OFFICE BUILDING 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
2005
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
3
Lot
1.53 ac
Current owner
From public records · entity-resolved
Mph Holdings LLC
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 12645, OLYMPIA, WA 98508-2645
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2025
—
Mph Holdings LLC
State Of Washington
Deed
—
Sep 29, 2020
$49,487
State Of Washington
Mph Holdings LLC
Grant Deed
—
Sep 1, 2016
—
Mph Holdings LLC
Mph Holdings II LLC
Quit Claim Deed
related
$4,000,000 · Heritage Bank
Oct 24, 2006
—
Mph Holdings II LLC
Mph Holdings LLC
Quit Claim Deed
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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