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

    1675 Marine NE Dr Olympia, WA 98501-6907

    • Commercial land
    • 1.42 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0778100
    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

    • Anthony's Hearthfire Grill Olympia / Seafood Restaurant / Bar

    Property Details for 1675 Marine NE Dr

    Lot size
    1.42 lot acres
    Property type
    Commercial land
    APN
    6613-00-00300
    APU
    66130000300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.905
    Latitude
    47.0583
    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
    $10
    $1,261,800
    $0.00
    $1,261,800
    -
    $1,261,800
    $0.00
    $1,261,800

    Comparable in this City

    • Value Estimation by Request
      6.63 Acres

      7845 Ctr SW St

      VACANT COMMERCIAL LAND • 6.63 Acres
      7845 Ctr SW St, Tumwater, WA 98501-7227
      View Details
    • Value Estimation by Request
      3.00 Acres

      Olympia, WA 98501

      VACANT COMMERCIAL LAND • 3.00 Acres
      Olympia, WA 98501
      View Details
    • Value Estimation by Request
      6.15 Acres

      Tumwater, WA 98501

      VACANT COMMERCIAL LAND • 6.15 Acres
      Tumwater, WA 98501
      View Details
    • Value Estimation by Request
      0.05 Acres

      Olympia, WA 98501

      VACANT COMMERCIAL LAND • 0.05 Acres
      Olympia, WA 98501
      View Details
    • Value Estimation by Request
      0.69 Acres

      955 Malin SW Ln

      VACANT COMMERCIAL LAND • 0.69 Acres
      955 Malin SW Ln, Tumwater, WA 98501-7256
      View Details
    • Value Estimation
      $605,000
      0.17 Acres

      310 4th E Ave

      VACANT COMMERCIAL LAND • 7,706 SF
      310 4th E Ave, Olympia, WA 98501-1107
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Shovel-Ready Development Site in Tumwater

      Fully entitled 95-unit development site with tax abatement.
      4300 Capitol Blvd SE, Tumwater, WA 98501
      View Details
    • $900,000

      Downtown Olympia Redevelopment Opportunity

      Commercial lot in downtown Olympia with redevelopment potential.
      317 State Ave NE, Olympia, WA 98501
      View Details
    • $825,000

      Vacant Land Ready for Development

      Usable vacant land available for development in Tumwater, WA.
      93Rd Ave SW, Tumwater, WA 98501
      View Details
    • $550,000

      Prime Corner Lot Redevelopment Opportunity

      Corner lot in Tumwater's Brewery District, ideal for redevelopment.
      3507 Capitol Blvd SW, Tumwater, WA 98501
      View Details
    • Contact for pricing

      Retail Pads Available Near I-5

      Retail pads for sale near major retailers and I-5.
      Tumwater Blvd SW, Tumwater, WA 98501
      View Details
    • $6,150,000
      32,482 SF

      Retail and Industrial Opportunity

      Family-owned retail and industrial property with high-traffic location.
      3729 Pacific Ave SE, Olympia, WA 98501
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      54,455 SF

      RAAD Office Building: Olympia, WA

      Prime Olympia Office Space: 7,500 - 54,455 SF
      128 10Th Ave, Olympia, WA 98501
      View Details
    • $1.11 SF/Yr
      39,584 SF

      State Avenue Retail Opportunity

      Prime Olympia Retail Space, 39,584 SF
      208 State Ave, Olympia, WA 98501
      View Details
    • Contact for pricing

      7.56 Acres of Land Available

      Land available for lease with offices and warehouses.
      84444-8500 Old Highway 99 SE, Olympia, WA 98501
      View Details
    • $14 SF/Yr
      4,250 SF

      Professional Office Space For Rent

      Office space near the state capital with parking.
      1210 Eastside St SE, Olympia, WA 98501
      View Details
    • $7,500 /Mo
      2,880 SF

      Tumwater Truck Terminal For Rent

      Cross-dock truck terminal with South Sound accessibility, near I-5.
      820 Airport Ct, Tumwater, WA 98501
      View Details
    • $1,500 /Mo
      215 SF

      Urban Offices in Historic Building

      Unique office spaces in downtown Olympia's historic James Martin Warehouse.
      115 State Ave NE, Olympia, WA 98501
      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.
    1675 Marine NE Dr
    Olympia, WA 98501-6907
    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.