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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Office buildings
2018 Caton SW Way Olympia, WA 98502-1119
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0623161
Property summary
AI-generated overview
This 2,592 sq ft, single-story Class B office building in Olympia, WA, is available for $785,000. Built in 2007 on a 0.27-acre lot, it features eight private offices, a conference room, and a reception area. The flexible layout is ideal for various professional uses, including medical and executive offices. Located in the Percival Creek Business Park, it offers easy access to I-5 and Hwy 101. The property boasts a turnkey setup and is zoned AS. The building is 100% owner-occupied and available August 1, 2024. Surrounding businesses include dentists, counselors, financial planners, and law offices. The asking price is $302.85 per square foot. This is an owner/user investment opportunity with excellent potential. The property's APN is 68680000400. The building's net rentable square footage is 2,592 square feet.
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2007
Construction
WOOD FRAME
Total area
2,592 SF
Lot
0.27 ac (11,761 SF)
APN
6868-00-00400
UPID
US90-0623161
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
-
Jennie Patton Attorney at Law Law Firm
-
Jill Collins, PC Law Firm
-
Duckling Properties LLC - Homes For Lease Property Management Company
-
Professional Offices Property Management Company
-
Marty Acker, Century 21 North Homes Realty Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$555k
Comparable Approach
Comparable
$450k
Blend (final)
Blend
$535k
Owner & transaction history
Bfg Commercial Properties LLC · 1 yrs held
Bfg Commercial Properties LLC
since 2025
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$880,000
+47.8%
Commercial (general)
$655,000
+10.2%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$600,000
6.5%
$555,000
7%
$515,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$595,000
Current use
RETAIL STORES
$880,000
Change: +48% · Conversion: Moderate
COMMERCIAL (GENERAL)
$655,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$535k
Range $482k – $589k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$206 / SF
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
$8,038
Tax year 2023
Assessed value
$806,300
Assessed 2022
Previous assessed
$619,500
+30.2% YoY
Effective rate
1.00%
On assessed value
Assessed land
$104,500
Assessed improvement
$701,800
Land market value
$104,500
Improvement market value
$701,800
Total market value
$806,300
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
Off-Market
Year built
2007
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
2,592 SF
Lot
0.27 ac (11,761 SF)
APN
6868-00-00400
UPID
US90-0623161
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
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$595,000
RETAIL STORES
Est. value
$880,000
COMMERCIAL (GENERAL)
Est. value
$655,000
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
0.27 ac
Current owner
From public records · entity-resolved
Bfg Commercial Properties LLC
Entity
Mailing address
2018 CATON WAY SW, OLYMPIA, WA 98502-1119
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2025
$685,000
Bfg Commercial Properties LLC
Eggplant Properties LLC
Warranty Deed
$548,000 · Timberland 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.
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