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Property profile & analytics
OFF-MARKET
Turn key restaurants
1615 State NE Ave Olympia, WA 98506-4554
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-1753275
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1997
Construction
WOOD FRAME
Total area
3,548 SF
Lot
0.12 ac (5,227 SF)
APN
7430-01-00800
UPID
US90-1753275
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
-
Occasions Catering & Special Events Take-out & Catering Catering Service
-
Occasions Catering & The Heritage Room at Capital Lake Take-out & Catering Catering Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Off Vine Hospitality LLC · 8 yrs held
Off Vine Hospitality LLC
since 2017
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$7,357
Tax year 2023
Assessed value
$737,900
Assessed 2022
Previous assessed
$479,500
+53.9% YoY
Effective rate
1.00%
On assessed value
Assessed land
$87,700
Assessed improvement
$650,200
Land market value
$87,700
Improvement market value
$650,200
Total market value
$737,900
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1997
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
2
Bathrooms
1
Total area
3,548 SF
Lot
0.12 ac (5,227 SF)
APN
7430-01-00800
UPID
US90-1753275
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
Building & site characteristics
From public records
Year built
1997
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Off Vine Hospitality LLC
Entity
Mailing address
1615 STATE AVE NE, OLYMPIA, WA 98506-4554
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 18, 2017
—
Off Vine Hospitality LLC
Curry,howard & Karla
Quit Claim Deed
related
$455,000 · Us Bk
Aug 31, 2016
$500,000
Howard Curry
1615 State Ave LLC
Warranty Deed
$44,000 · Private Individual
Aug 1, 2002
—
1615 State Avenue LLC
Hannah,james N & Jennie L
Quit Claim Deed
related
—
Feb 13, 1996
$77,000
Marguerite N Doscher
Kelley,richard J
Grant Deed
$69,650 · Seller
Mar 22, 1989
$85,000
Richard J Kelley
Unknown
Grant Deed
—
—
—
1615 State Avenue LLC
—
Deed Of Trust
related
$260,500 · South Sound Bank
—
—
1615 State Avenue LLC
—
Deed Of Trust
related
$444,753 · South Sound Bank
—
—
James N Hannah
—
Deed Of Trust
related
$135,000 · South Sound Bank
—
—
Vine Hospitality LLC
—
Deed Of Trust
related
$455,000 · Us Bk
—
—
James N Hannah
—
Deed Of Trust
related
$150,000 · First Community Bank Washingto
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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