Back to Search
Property profile & analytics
FOR LEASE
Grocery and convenience stores
3002 Harrison Ave NW Olympia, WA 98502
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1143613
No photos on file
For Lease
$1,593/Mo
3002 Harrison Ave NW, Olympia, WA 98502
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1981
Construction
WOOD FRAME
Total area
8,204 SF
Lot
1.03 ac (44,867 SF)
APN
1281-62-40103
UPID
US90-1143613
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.31M
CAP Approach
CAP
$1.53M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.48M
Owner & transaction history
Riptide 8 LLC · 3 yrs held
Riptide 8 LLC
since 2022
Last sale
$1.5M
4 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
$1,400,000
ML approach
$1,305,000
CAP Approach
CAP Return
Estimation
6%
$1,650,000
6.5%
$1,525,000
7%
$1,415,000
Blend value · Realmo final
$1.48M
Range $1.33M – $1.62M · ±10% · vs last sale $1.49M (Aug 31 2022)
Last sale anchor
$1.49M
Aug 31 2022
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
$180 / 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
$17,127
Tax year 2023
Assessed value
$1,719,000
Assessed 2022
Previous assessed
$1,219,500
+41.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$359,100
Assessed improvement
$1,359,900
Land market value
$359,100
Improvement market value
$1,359,900
Total market value
$1,719,000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Lease
Year built
1981
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
8,204 SF
Lot
1.03 ac (44,867 SF)
APN
1281-62-40103
UPID
US90-1143613
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
1981
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
1.03 ac
Current owner
From public records · entity-resolved
Riptide 8 LLC
Entity
Mailing address
3002 HARRISON AVE NW, OLYMPIA, WA 98502-2506
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 31, 2022
$1,489,000
Riptide 8 LLC
Michael Stedman
Warranty Deed
$1,270,004 · Columbia State Bank
Jun 27, 2017
—
Steadman Family Revocable Trust
—
Deed
related
$1,000,000 · South Sound Bank
Jul 28, 1988
$510,000
Steadman Family Rev Tst
Unknown
Grant Deed
—
—
—
Steadman Family Trust
—
Deed Of Trust
related
$750,000 · Venture Bank
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?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
