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Property profile & analytics
OFF-MARKET
Estimated value
$785,000
Office buildings
2102 Carriage St Sw Ste J Olympia, WA 98502-1049
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-0623165
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2005
Construction
WOOD FRAME
Total area
4,096 SF
Lot
0.11 ac (4,792 SF)
APN
6863-00-00200
UPID
US90-0623165
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
-
Gray & Osborne Engineering Consultant
-
Mr. Andrew Byers Physician
-
Farmers Insurance - Adolfo Soto Insurance Agency
-
Washington Trucking Associations Charitable Organization Social Service Agency
-
Assured Hospice Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$875k
Comparable Approach
Comparable
$963k
Blend (final)
Blend
$785k
Owner & transaction history
Vadis · 1 yrs held
Vadis
since 2025
Last sale
$794,950
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.0M
+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%
$950,000
6.5%
$875,000
7%
$815,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$940,000
Current use
COMMERCIAL (GENERAL)
$1,035,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$785k
Range $707k – $864k · ±10% · vs last sale $795k (Mar 6 2025)
Last sale anchor
$795k
Mar 6 2025
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
$192 / 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
$9,085
Tax year 2023
Assessed value
$911,400
Assessed 2022
Previous assessed
$682,300
+33.6% YoY
Effective rate
1.00%
On assessed value
Assessed land
$101,700
Assessed improvement
$809,700
Land market value
$101,700
Improvement market value
$809,700
Total market value
$911,400
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
2005
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
1
Total area
4,096 SF
Lot
0.11 ac (4,792 SF)
APN
6863-00-00200
UPID
US90-0623165
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
$940,000
COMMERCIAL (GENERAL)
Est. value
$1.0M
OFFICE BUILDING Current
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
2005
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Vadis
Individual
Free & Clear · 1 yrs held
Mailing address
6237 49TH LN NW, OLYMPIA, WA 98502-9554
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2025
$794,950
Vadis
Five Greens Investments LLC
Warranty Deed
—
Aug 21, 2009
—
Four Greens Investments LLC
Greene,james M & Shawni D
Quit Claim Deed
related
—
Jan 11, 2008
—
James M Greene
Mph Holdings LLC
Warranty Deed
related
—
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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