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Property profile & analytics
OFF-MARKET
Estimated value
$14,390,000
Hotels
2300 Evergreen Park SW Dr, Olympia, WA 98502-6008
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1154655
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1970
Construction
WOOD FRAME
Total area
130,094 SF
Lot
11.88 ac (517,493 SF)
APN
4683-00-01400
UPID
US90-1154655
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
-
Tesla Destination Charger Electric Vehicle Charging Station
-
Westwater Bar and Grill Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.68M
CAP Approach
CAP
$11.92M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$14.39M
Owner & transaction history
Olympia 196 LLC · 2 yrs held
Olympia 196 LLC
since 2023
Last sale
$15.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$23.8M
+350.5%
Restaurant
$18.6M
+252.1%
Commercial (general)
$15.9M
+201.9%
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
$18,345,000
ML approach
$10,680,000
CAP Approach
CAP Return
Estimation
6%
$12,915,000
6.5%
$11,920,000
7%
$11,070,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$23,790,000
Change: +351% · Conversion: Difficult
RESTAURANT
$18,590,000
Change: +252% · Conversion: Difficult
COMMERCIAL (GENERAL)
$15,940,000
Change: +202% · Conversion: Difficult
OFFICE BUILDING
$15,785,000
Change: +199% · Conversion: Difficult
RETAIL STORES
$14,900,000
Change: +182% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$14,815,000
Change: +181% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$14,105,000
Change: +167% · Conversion: Difficult
Blend value · Realmo final
$14.39M
Range $12.95M – $15.83M · ±10% · vs last sale $15.50M (Dec 29 2023)
Last sale anchor
$15.50M
Dec 29 2023
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
$111 / 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
$104,597
Tax year 2023
Assessed value
$10,502,800
Assessed 2022
Previous assessed
$8,477,300
+23.9% YoY
Effective rate
1.00%
On assessed value
Assessed land
$827,000
Assessed improvement
$9,675,800
Land market value
$827,000
Improvement market value
$9,675,800
Total market value
$10,502,800
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1970
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
3
Total area
130,094 SF
Lot
11.88 ac (517,493 SF)
APN
4683-00-01400
UPID
US90-1154655
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
AUTO REPAIR, GARAGE
Est. value
$23.8M
RESTAURANT
Est. value
$18.6M
COMMERCIAL (GENERAL)
Est. value
$15.9M
OFFICE BUILDING
Est. value
$15.8M
RETAIL STORES
Est. value
$14.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$14.8M
INDUSTRIAL (GENERAL)
Est. value
$14.1M
AUTO REPAIR, GARAGE
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (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
1970
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
3
Lot
11.88 ac
Current owner
From public records · entity-resolved
Olympia 196 LLC
Entity
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2023
$15,500,000
Olympia 196 LLC
California Investment LLC
Warranty Deed
$880,000 · W Financial Reit Ltd
Feb 24, 2021
$7,900,000
California Investment LLC
Rl Olympia LLC
Bargain And Sale Deed
$5,000,000 · Unibank
Mar 21, 2019
—
Rl Olympia LLC
—
Grant Deed
related
$5,600,000 · Umpqua Bk
Jan 15, 2015
—
Rl Olympia LLC
Whc821 LLC
Special Warranty Deed
$80,000,000 · Pacific Western National Bank
Jun 21, 2013
—
Whc821 LLC
—
Loan Modification
related
$55,000,000 · Wells Fargo Bank
Jul 1, 1998
$65,414
Olympic Hotel LLC
Westwater Olympic Partnership
Grant Deed
related
$6,200,000 · Us Bank
—
—
Westwater Olympia Partnership
—
Deed Of Trust
related
$100,000 · 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.
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