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Property profile & analytics
FOR LEASE
Retail properties & Spaces
2703 Capital Mall Dr SW Olympia, WA 98502
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-1485168
For Lease
1 / 4
Contact for pricing
2703 Capital Mall Dr SW, Olympia, WA 98502
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Property summary
AI-generated overview
This two-story, 19,600 square foot office building at 2703 Capital Mall Dr SW, Olympia, WA 98502, offers a unique leasing opportunity. Built in 1986, the property sits on 0.6 acres and features nine total suites, with 4,415 square feet currently vacant. Spaces range from a minimum of 2,015 square feet to a maximum contiguous space of 4,415 square feet, making it suitable for a variety of business needs. The building offers a traditional office layout, executive office options, and coworking potential. The property boasts ample natural light thanks to expansive windows, creating a bright and inviting atmosphere. With 37 parking spaces available, accessibility for employees and clients is ensured. The building does not have elevators. This versatile space is ideal for businesses seeking a modern and functional workspace in a convenient Olympia location. The property's flexible layout allows for customization to meet diverse business requirements. This is a prime opportunity to secure office space in a desirable area.
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1986
Construction
WOOD FRAME
Total area
19,600 SF
Lot
0.73 ac (31,799 SF)
APN
3861-00-00200
UPID
US90-1485168
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
-
CU Dealer Direct Bank Credit Union
-
Evergreen Beauty College Olympia Vocational School Training Center
-
Prew Cutz Barber Shop
-
Primp lash & beauty boutique Hair Salon Nail Salon
-
primp and refinery Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.29M
Blend (final)
Blend
$2.06M
Owner & transaction history
Emmaus Capital LLC · 2 yrs held
Emmaus Capital LLC
since 2023
Last sale
$1.9M
3 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
$2,220,000
ML approach
$2,245,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.06M
Range $1.85M – $2.26M · ±10% · vs last sale $1.88M (Nov 16 2023)
Last sale anchor
$1.88M
Nov 16 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
$105 / 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
$27,443
Tax year 2023
Assessed value
$2,755,000
Assessed 2022
Previous assessed
$2,137,400
+28.9% YoY
Effective rate
1.00%
On assessed value
Assessed land
$232,900
Assessed improvement
$2,522,100
Land market value
$232,900
Improvement market value
$2,522,100
Total market value
$2,755,000
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 properties & Spaces
Use group
DEPARTMENT STORE
Status
For Lease
Year built
1986
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
19,600 SF
Lot
0.73 ac (31,799 SF)
APN
3861-00-00200
UPID
US90-1485168
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
Building & site characteristics
From public records
Year built
1986
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
0.73 ac
Current owner
From public records · entity-resolved
Emmaus Capital LLC
Entity
Free & Clear · 2 yrs held
Mailing address
17837 1ST AVE S, NORMANDY PARK, WA 98148-1728
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 16, 2023
$1,876,000
Emmaus Capital LLC
Resource Transition Consultants LLC
Bargain And Sale Deed
—
Dec 2, 2019
—
Hf Commercial LLC
—
Trustees Deed
related
$930,000 · Us Bk
Dec 31, 2018
$1,750,000
Hf Commercial LLC
Mfs Properties INC
Warranty Deed
$1,618,600 · Us Bank NA
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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