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    Property profile & analytics

    297 Sussex Ave Tenino, WA 98589

    • Retail space
    • 3,565 SF
    • 0.10 lot acres
    For Sale
    View listing
    $595,000
    Last Sale
    Oct 15, 2021
    $325,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1418645
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Stone City Farm / (Bike/Boat/Book/etc) Store / Cosmetic Store

    Property Details for 297 Sussex Ave

    Year built
    1966
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.10 lot acres
    Property size
    3,565 SF
    Property type
    Retail space
    APN
    5490-09-00801
    APU
    54900900801

    Description

    This prime commercial property in downtown Tenino, WA, boasts high visibility at a key business corner. The substantial stone building offers over 3500 square feet, currently divided into three separate units, but easily adaptable into a single large space. High ceilings (15 feet) and hardwood floors throughout create a versatile interior. Abundant natural light floods the space through windows on two sides, ideal for retail or other commercial uses. A commercial kitchen is already installed, presenting opportunities for cafГ© or restaurant operations. The property benefits from a brand new HVAC system, ensuring year-round comfort. Designated parking spaces are included, supplemented by ample street and public parking nearby. Its convenient location offers easy access to Tenino Park and the quarry pool, enhancing its appeal and potential for attracting customers. The property is subject to existing leases. This is a rare opportunity to acquire a well-situated, established commercial building in a thriving downtown area. The building's size, features, and location make it an excellent investment for a variety of commercial ventures. The high visibility and proximity to local amenities ensure strong potential for business success.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tenino
    County
    Thurston
    State
    Washington
    Longitude
    -122.853
    Latitude
    46.8569
    CBSA code
    36500
    CBSA name
    OLYMPIA, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,315
    $39,300
    $407,000
    $446,300
    -
    $39,300
    $407,000
    $446,300

    Comparable in this City

    • Value Estimation
      $640,000
      3,764 SF

      669 Lincoln E Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,764 SF
      669 Lincoln E Ave, Tenino, WA 98589-8763
      View Details
    • Value Estimation by Request
      468 SF

      112 Wichman S St

      RETAIL STORES (PERSONAL SERVICES) • 468 SF
      112 Wichman S St, Tenino, WA 98589-9419
      View Details
    • Value Estimation by Request
      1,020 SF

      253 Sussex W Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,020 SF
      253 Sussex W Ave, Tenino, WA 98589-9360
      View Details
    • Value Estimation by Request
      1,772 SF

      325 Sussex W Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,772 SF
      325 Sussex W Ave, Tenino, WA 98589-9343
      View Details
    • Value Estimation
      $635,000
      4,440 SF

      248 Sussex W Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,440 SF
      248 Sussex W Ave, Tenino, WA 98589-9360
      View Details
    • Value Estimation
      $975,000
      6,731 SF

      348 Sussex E Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,731 SF
      348 Sussex E Ave, Tenino, WA 98589-9262
      View Details

    Similar Nearby for Sale

    • $1,499,000

      Tenino Commercial Building with Dealership

      12,000+ sq ft C1 building in growing Tenino, WA.
      125 Sussex Ave, Tenino, WA 98589
      View Details
    • $950,000

      Commercial Building in Growing Town

      12,000+ sq ft commercial building with large parking lot.
      125 Sussex Ave E, Tenino, WA 98589
      View Details
    • $250,000
      1,956 SF

      Land for Sale

      Land available for sale.
      2701 140Th Ave SW, Tenino, WA 98589
      View Details
    • $745,000

      Turnkey Mobile Home Park Investment

      Well-maintained mobile home park with immediate income and growth potential.
      1098 Old Highway 99, Tenino, WA 98589
      View Details
    • $200,000

      Ready-to-Build Land in Tenino

      5.07-acre lot with approved septic design and utilities installed.
      2103 150Th Ln, Tenino, WA 98589
      View Details
    • $389,000

      Tenino Commercial Corner Property

      High-visibility restaurant, prime location, investment opportunity.
      472 Sussex Ave, Tenino, WA 98589
      View Details
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    297 Sussex Ave
    Tenino, WA 98589
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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