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Property profile & analytics
FOR LEASE
Office buildings
1920 State Ave NE, Olympia, WA 98506
Trust Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1273151
For Lease
Contact for pricing
1920 State Ave NE, Olympia, WA 98506
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1955
Construction
WOOD FRAME
Total area
2,477 SF
Lot
0.17 ac (7,405 SF)
APN
5530-04-01000
UPID
US90-1273151
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
-
Marjean Swartling, DC Alternative Medicine Practice
-
Sound Hellerwork Alternative Medicine Practice Spa & Massage Center
-
Koa’e’ula Acupuncture PLLC Medical Clinic Alternative Medicine Practice
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
Kimmel,swartling Living Trust · 9 yrs held
Kimmel,swartling Living Trust
since 2017
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 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
$3,244
Tax year 2023
Assessed value
$324,800
Assessed 2022
Previous assessed
$229,400
+41.6% YoY
Effective rate
1.00%
On assessed value
Assessed land
$101,700
Assessed improvement
$223,100
Land market value
$101,700
Improvement market value
$223,100
Total market value
$324,800
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Lease
Year built
1955
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
1
Total area
2,477 SF
Lot
0.17 ac (7,405 SF)
APN
5530-04-01000
UPID
US90-1273151
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
1955
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Kimmel,swartling Living Trust
Trust
Free & Clear · 9 yrs held
Mailing address
2545 ASPINWALL RD NW, OLYMPIA, WA 98502-1567
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 25, 2017
—
Kimmel,swartling Living Trust
Kinunel,dale R
Quit Claim Deed
related
—
Apr 1, 1996
$205,000
Dale R Kimmel
Group Five Associates
Grant Deed
$172,673 · First Community Bank Washingto
Oct 14, 1991
$149,500
Group Five Associates
Unknown
Grant Deed
—
—
—
Dale R Kimmel
—
Deed Of Trust
related
$161,534 · West Coast Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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