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Property profile & analytics
OFF-MARKET
Estimated value
$2,140,000
Retail space
204 5th SE Ave, Olympia, WA 98501
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1487945
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1920
Construction
CONCRETE
Total area
14,172 SF
Lot
0.17 ac (7,405 SF)
APN
7850-24-00700
UPID
US90-1487945
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.08M
CAP Approach
CAP
$2.63M
Comparable Approach
Comparable
$2.84M
Blend (final)
Blend
$2.14M
Owner & transaction history
Jace Investment Properties LLC · 4 yrs held
Jace Investment Properties LLC
since 2022
Last sale
$2.2M
7 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
Method
Estimation
Statistic approach
$2,075,000
ML approach
$2,080,000
CAP Approach
CAP Return
Estimation
6%
$2,850,000
6.5%
$2,630,000
7%
$2,445,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,500,000
Current use
OFFICE BUILDING
$3,390,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$2.14M
Range $1.93M – $2.35M · ±10% · vs last sale $2.21M (Jul 5 2022)
Last sale anchor
$2.21M
Jul 5 2022
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
$151 / 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
$22,905
Tax year 2023
Assessed value
$2,299,300
Assessed 2022
Previous assessed
$2,071,100
+11.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$258,700
Assessed improvement
$2,040,600
Land market value
$258,700
Improvement market value
$2,040,600
Total market value
$2,299,300
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1920
Construction
CONCRETE
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Stories
2
Total area
14,172 SF
Lot
0.17 ac (7,405 SF)
APN
7850-24-00700
UPID
US90-1487945
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
RETAIL STORES Current
Est. value
$3.5M
OFFICE BUILDING
Est. value
$3.4M
RETAIL STORES Current
OFFICE BUILDING
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
1920
Construction
CONCRETE
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
2
Lot
0.17 ac
Current owner
From public records · entity-resolved
Jace Investment Properties LLC
Entity
Mailing address
4018 262ND AVE SE, SAMMAMISH, WA 98029-5712
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 5, 2022
$2,206,184
Jace Investment Properties LLC
Olympia Capitol Theater Building Ll
Warranty Deed
$1,590,000 · Telco Community Cu
Mar 22, 2016
$1,580,000
Olympia Capitol Theater Buildi
Capitol Theatre Building LLC
Warranty Deed
$1,100,000 · Boeing Emps Cu
Apr 7, 2011
$950,000
Capitol Theatre Building LLC
Greentea INC
Warranty Deed
$712,500 · Us Bank NA
Sep 1, 2010
$300,000
The Olympia Film Society
Green Tea INC
Warranty Deed
$200,000 · Green Tea INC
Apr 1, 2008
$700,000
Green Tea INC
Andrew N Crow
Warranty Deed
$700,000 · Us Bank NA
May 29, 1991
$330,000
Andrew N Crow
Unknown
Grant Deed
—
—
—
Andrew N Crow
—
Deed Of Trust
related
$114,347 · West Coast Bank
—
—
Andrew N Crow
—
Deed Of Trust
related
$185,000 · Olympia West Branch
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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