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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2000 Black Lk SW Blvd Tumwater, WA 98512-5603

    • Grocery and convenience stores
    • 2,736 SF
    • 0.50 lot acres
    OFF-MARKET
    Last Sale
    Sep 08, 2023
    $700,000
    Value Estimations
    $755,000
    Show details
    Cap Rate Potential
    4.1%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US90-0903555
    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

    • Grocery and convenience stores

    Property Details for 2000 Black Lk SW Blvd

    Year built
    1969
    Construction
    WOOD FRAME
    Lot size
    0.50 lot acres
    Property size
    2,736 SF
    Property type
    Grocery and convenience stores
    APN
    1282-13-10101
    APU
    12821310101

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $810,000
      ML approach
      $795,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $550,000
      6.5%
      $510,000
      7%
      $470,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $785,000
      Market price range: $427k - $1.62M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,005,000
      Current use
      COMMERCIAL (GENERAL)
      $945,000
      Change: -6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tumwater
    County
    Thurston
    State
    Washington
    Longitude
    -122.943
    Latitude
    47.03
    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
    $6,151
    $170,800
    $445,900
    $616,700
    -
    $170,800
    $445,900
    $616,700

    Comparable in this City

    • Value Estimation
      $565,000
      2,992 SF

      5325 Littlerock SW Rd

      GROCERY, SUPERMARKET • 2,992 SF
      5325 Littlerock SW Rd, Tumwater, WA 98512-7302
      View Details
    • Value Estimation
      $960,000
      6,000 SF

      7000 Littlerock SW Rd

      GROCERY, SUPERMARKET • 6,000 SF
      7000 Littlerock SW Rd, Tumwater, WA 98512-7415
      View Details
    • Value Estimation
      $560,000
      3,285 SF

      1022 Crosby SW Blvd

      GROCERY, SUPERMARKET • 3,285 SF
      1022 Crosby SW Blvd, Tumwater, WA 98512-7387
      View Details
    • Value Estimation
      $2,545,000
      3,000 SF

      2020 Black Lk SW Blvd

      GROCERY, SUPERMARKET • 3,000 SF
      2020 Black Lk SW Blvd, Olympia, WA 98512-5603
      View Details
    • Value Estimation by Request
      1,620 SF

      11315 Scott Crk SW Dr

      GROCERY, SUPERMARKET • 1,620 SF
      11315 Scott Crk SW Dr, Olympia, WA 98512-9036
      View Details
    • Value Estimation
      $595,000
      3,152 SF

      6520 128th SW Ave

      GROCERY, SUPERMARKET • 3,152 SF
      6520 128th SW Ave, Olympia, WA 98512-9250
      View Details

    Similar Nearby for Sale

    • $2,783,505
      2,540 SF

      Ground Leased Wendy's For Sale

      20-year ground lease Wendy's in Tumwater, WA, opening May 2025.
      1401 Kingswood Dr SW, Tumwater, WA 98512
      View Details
    • $2,783,505
      2,540 SF

      Ground Leased Wendy's For Sale

      20-Year Ground Leased Wendy's with zero landlord responsibility.
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      View Details
    • $5,995,000
      31,675 SF

      Tumwater Flex Space: Prime Location

      Modern Flex Space, I-5 Access, 31,675 SF
      2500 Mottman Rd, Tumwater, WA 98512
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    • $1,825,000
      4.98 Acres

      Olympia Industrial Land Investment

      Prime I-5 location, 4.98 acres.
      3215 93Rd Ave, Olympia, WA 98512
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    • $280,000

      Lakeview Hilltop Lot Opportunity

      Private east-facing lot with panoramic water views and mature trees.
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    • $4,995,000
      31,675 SF

      Remodeled Warehouse Near Highway 101

      Remodeled warehouse with office space, close to Highway 101.
      2500 Mottman Rd SW Tumwater, Tumwater, WA 98512
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    Similar Nearby for Lease

    • $18 SF/Yr
      1,340 SF

      Retail Space in Tumwater, WA

      Retail space available for lease in Tumwater, Washington.
      5729 Littlerock Rd SW, Tumwater, WA 98512
      View Details
    • $0.75 SF/Yr
      8,865 SF

      Warehouse with Showroom For Lease

      Warehouse and showroom space available for lease in Tumwater.
      2540 Crites St SW, Tumwater, WA 98512
      View Details
    • Contact for pricing
      1,302 SF

      Retail Space in Tumwater, WA

      Retail space available for lease in Tumwater, Washington.
      555 Trosper Rd Southwest, Tumwater, WA 98512
      View Details
    • $22 SF/Yr
      1,320 SF

      Retail Space Near Interstate 5

      Retail space available in anchored shopping center near Interstate 5.
      849-885 Trosper Rd SW, Tumwater, WA 98512
      View Details
    • $22 SF/Yr
      28,491 SF

      High-End Office Space Available

      Three-floor office space near Hwy 101 and I-5.
      1570 Irving St SW, Tumwater, WA 98512
      View Details
    • Contact for pricing
      199,950 SF

      Tumwater Warehouse and Distribution Space

      199,950 SF warehouse with ample parking and dock doors.
      2310 93Rd Ave SW, Tumwater, WA 98512
      View Details
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    Tumwater, WA 98512-5603
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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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