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Property profile & analytics
FOR LEASE
Turn key restaurants
2101 Harrison Ave NW Olympia, WA 98502
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0608130
For Lease
1 / 7
Contact for pricing
2101 Harrison Ave NW, Olympia, WA 98502
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1974
Construction
WOOD FRAME
Total area
3,120 SF
Lot
1.16 ac (50,530 SF)
APN
7040-02-01000
UPID
US90-0608130
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
-
slipcovers by karen bean Furniture & Home Goods
-
The Amazing Me Olympia Nail Art Nail Salon
-
Indigo Purls (formerly The Black Sheep Yarn Boutique) (Bike/Boat/Book/etc) Store
-
Jorstad Creek, A Yarn and Fiber Company (Bike/Boat/Book/etc) Store
-
Aesthetics Nail Spa Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$605k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$607k
Blend (final)
Blend
$605k
Owner & transaction history
Westside Mini Mall LLC · 7 yrs held
Westside Mini Mall LLC
since 2019
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$570,000
+28.0%
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
$605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$445,000
Current use
AUTO REPAIR, GARAGE
$570,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$380,000
Change: -14% · Conversion: Easy
OFFICE BUILDING
$380,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$605k
Range $545k – $666k · ±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
$194 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$28,592
Tax year 2024
Assessed value
$2,737,600
Assessed 2023
Previous assessed
$2,486,400
+10.1% YoY
Effective rate
1.04%
On assessed value
Assessed land
$959,100
Assessed improvement
$1,778,500
Land market value
$959,100
Improvement market value
$1,778,500
Total market value
$2,737,600
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
Turn key restaurants
Use group
RESTAURANT
Status
For Lease
Year built
1974
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Buildings
3
Stories
1
Total area
3,120 SF
Lot
1.16 ac (50,530 SF)
APN
7040-02-01000
UPID
US90-0608130
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
RESTAURANT Current
Est. value
$445,000
AUTO REPAIR, GARAGE
Est. value
$570,000
COMMERCIAL (GENERAL)
Est. value
$380,000
OFFICE BUILDING
Est. value
$380,000
RESTAURANT Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1974
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Lot
1.16 ac
Current owner
From public records · entity-resolved
Westside Mini Mall LLC
Entity
Mailing address
1000 N 33RD ST, RENTON, WA 98056-1946
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2020
—
Westside Mini Mall LLC
—
Deed
related
$549,087 · Us Bank NA
Jul 22, 2019
—
Westside Mini Mall LLC
Pham,tuyen Q
Quit Claim Deed
related
—
Apr 5, 2019
—
Tuyen Q Pham
Pham,bao
Quit Claim Deed
related
—
Feb 1, 2006
$1,869,000
Tuyen Q Pham
1996 Wilson LLC
Warranty Deed
$1,124,000 · Sterling Savings Bank
—
—
Brian M Wilson
—
Deed Of Trust
related
$511,000 · Individual
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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