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Property profile & analytics
OFF-MARKET
Estimated value
$6,080,000
Industrial properties
3003 R W Johnson SW Blvd, Tumwater, WA 98512-6173
Entity Owned
14-yr Hold
Free & Clear
Property ID
US90-1348285
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1983
Construction
STEEL FRAME
Total area
49,752 SF
Lot
22 ac (958,320 SF)
APN
6309-00-04300
UPID
US90-1348285
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
by Request
CAP Approach
CAP
$6.21M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.08M
Owner & transaction history
City Of Tumwater · 14 yrs held
City Of Tumwater
since 2011
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$8.3M
+32.2%
Restaurant
$7.1M
+13.0%
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 Tumwater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tumwater 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%
$6,730,000
6.5%
$6,210,000
7%
$5,765,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$6,295,000
Current use
AUTO REPAIR, GARAGE
$8,325,000
Change: +32% · Conversion: Easy
RESTAURANT
$7,110,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$6,215,000
Change: -1% · Conversion: Difficult
RETAIL STORES
$5,835,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$6.08M
Range $5.47M – $6.69M · ±10%
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
$122 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$179,244
Tax year 2024
Assessed value
$17,939,200
Assessed 2023
Previous assessed
$26,827,800
-33.1% YoY
Effective rate
1.00%
On assessed value
Assessed land
$4,313,800
Assessed improvement
$13,625,400
Land market value
$4,313,800
Improvement market value
$13,625,400
Total market value
$17,939,200
Applied tax rate
440.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1983
Construction
STEEL FRAME
Heating
SPACE
Buildings
2
Stories
1
Total area
49,752 SF
Lot
22 ac (958,320 SF)
APN
6309-00-04300
UPID
US90-1348285
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
INDUSTRIAL (GENERAL) Current
Est. value
$6.3M
AUTO REPAIR, GARAGE
Est. value
$8.3M
RESTAURANT
Est. value
$7.1M
OFFICE BUILDING
Est. value
$6.2M
RETAIL STORES
Est. value
$5.8M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
RETAIL STORES
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
1983
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Buildings
2
Lot
22 ac
Current owner
From public records · entity-resolved
City Of Tumwater
Entity
Free & Clear · 14 yrs held
Mailing address
111 PO BOX 11159TH AVE SW, OLYMPIA, WA 98508-1159
Ownership since
2011
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
Aug 18, 2011
—
City Of Tumwater
3005 LLC
Warranty Deed
—
Dec 29, 2008
$18,310,000
3005 LLC
Columbia Beverage Company
Warranty Deed
$12,500,000 · Wells Fargo Bank NA
—
—
3005 LLC
—
Deed Of Trust
related
$12,500,000 · Wells Fargo 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.
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