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    1717 83rd SW Ave Olympia, WA 98512
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    Property profile & analytics

    1717 83rd SW Ave, Olympia, WA 98512

    View on Map
    • Apartment buildings
    • 4,884 SF
    • 16.09 lot acres
    Off-Market
    Last Sale Jul 10, 2020
    $4,996,800
    Property ID
    US90-1651947
    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.
    Value Estimations
    $5,670,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1717 83rd SW Ave

    Year built
    1978
    Construction
    WOOD FRAME
    Lot size
    16.09 lot acres
    Property type
    Apartment buildings
    APN
    1271-52-20000
    APU
    12715220000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 10, 2020 — Prine Villa LLC Greater Columbia LLC Warranty Deed $2.5M · Greystone Svcng Corp
    Jan 11, 2006 — Greater Columbia LLC Paul E Cushman Quit Claim Deed · related $900k · Wells Fargo Bank NA
    May 9, 1995 $1,355,000 Paul E Cushman Maurmann,marc & Darlene Grant Deed $925k · Interwest Savings Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,460,000
      ML approach
      $5,735,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,149,000
      Market price range: $629k - $6.15M

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

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.925
    Latitude
    46.9654
    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
    $52,435
    $1,199,600
    $4,000,000
    $5,199,600
    -
    $1,199,600
    $4,000,000
    $5,199,600

    Comparable in this City

    • Value Estimation
      $1,085,000
      5,338 SF

      3300 21st SW Ave

      APARTMENT HOUSE (5+ UNITS)
      3300 21st SW Ave, Tumwater, WA 98512-5668
      View Details
    • Value Estimation
      $3,330,000
      21,000 SF

      4862 Rural SW Rd

      APARTMENT HOUSE (5+ UNITS)
      4862 Rural SW Rd, Tumwater, WA 98512-6764
      View Details
    • Value Estimation
      $3,395,000
      21,444 SF

      4846 Rural SW Rd

      APARTMENT HOUSE (5+ UNITS)
      4846 Rural SW Rd, Tumwater, WA 98512-6746
      View Details
    • Value Estimation
      $2,875,000
      19,343 SF

      4842 Rural SW Rd

      APARTMENT HOUSE (5+ UNITS)
      4842 Rural SW Rd, Tumwater, WA 98512-6720
      View Details
    • Value Estimation by Request
      3,120 SF

      7701 Prine SW Dr

      APARTMENT HOUSE (5+ UNITS)
      7701 Prine SW Dr, Olympia, WA 98512-7560
      View Details
    • Value Estimation
      $3,375,000
      21,168 SF

      4882 Rural SW Rd

      APARTMENT HOUSE (5+ UNITS)
      4882 Rural SW Rd, Tumwater, WA 98512-6770
      View Details

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      7,812 SF industrial building with office space for sale.
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      77,101 SF

      Land Parcel in Retail Core

      Land with approved use for self-storage in Tumwater.
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      Pending

      Black River Farm Dairy Operation

      Dairy operation with 512 acres near I-5.
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      Prime Commercial Land For Sale

      1.4-acre parcel with direct freeway access in growing area.
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    Similar Nearby for Lease

    • $3,049 /Mo
      304,920 SF

      Heavy Industrial Land For Lease

      7 acres of heavy industrial land with convenient highway access.
      2840 Black Lake Blvd SW, Tumwater, WA 98512
      View Details
    • Contact for pricing

      Tumwater Industrial Property For Rent

      Industrial property available for rent in Tumwater, Washington.
      2840 Black Lake Blvd SW, Tumwater, WA 98512
      View Details
    • Contact for pricing
      20,000 SF

      Industrial Space with Fenced Perimeter

      20,000 SF industrial space with ample parking/yard.
      2670 Crites St SW, Tumwater, WA 98512
      View Details
    • Contact for pricing
      10,000 SF

      Tumwater Industrial Space For Lease

      10,000 SF industrial property in Mottman Industrial Park.
      2947 Rw Johnson Blvd SW, Tumwater, WA 98512
      View Details
    • Contact for pricing
      1,191,942 SF

      83-Acre Master Planned Industrial Park

      Master-planned industrial park with I-5 access and trailer parking.
      2310 93Rd Ave SW, Tumwater, WA 98512
      View Details
    • Contact for pricing
      339,420 SF

      Olympia Warehouse Space For Lease

      339,420 SF warehouse on 19.58 acres available for lease.
      9744 Blomberg St SW, Olympia, WA 98512
      View Details
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    Olympia, WA 98512
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    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
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