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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Medical Office Space
3023 Pacific SE Ave, Olympia, WA 98501-2042
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US90-1137093
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2008
Construction
WOOD FRAME
Total area
6,960 SF
Lot
0.63 ac (27,443 SF)
APN
3884-00-00801
UPID
US90-1137093
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
-
Healthy Future Pediatrics Hospital Children's Hospital
-
Damon Perry Physician
-
Lindgren Carl A MD Pediatrician Medical Clinic
-
Healthy Future Pediatrics: Winchell Tammy MD Pediatrician Medical Clinic
-
James P. Ronan, ARNP Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$470k
CAP Approach
CAP
$860k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$665k
Owner & transaction history
Carl & Victoria Properties LLC · 20 yrs held
Carl & Victoria Properties LLC
since 2006
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
by Request
ML approach
$470,000
CAP Approach
CAP Return
Estimation
6%
$935,000
6.5%
$860,000
7%
$800,000
Alternative Use
Use
Estimation
RESTAURANT
$995,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$900,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$705,000
Change: 0% · Conversion: Easy
RETAIL STORES
$685,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$630,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$620,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$665k
Range $599k – $732k · ±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
$96 / 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
$16,568
Tax year 2024
Assessed value
$1,586,000
Assessed 2023
Previous assessed
$2,077,200
-23.6% YoY
Effective rate
1.04%
On assessed value
Assessed land
$352,300
Assessed improvement
$1,233,700
Land market value
$352,300
Improvement market value
$1,233,700
Total market value
$1,586,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2008
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
2
Total area
6,960 SF
Lot
0.63 ac (27,443 SF)
APN
3884-00-00801
UPID
US90-1137093
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
RESTAURANT
Est. value
$995,000
INDUSTRIAL (GENERAL)
Est. value
$900,000
OFFICE BUILDING
Est. value
$705,000
RETAIL STORES
Est. value
$685,000
WAREHOUSE, STORAGE
Est. value
$630,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$620,000
RESTAURANT
INDUSTRIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
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
2008
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
2
Lot
0.63 ac
Current owner
From public records · entity-resolved
Carl & Victoria Properties LLC
Entity
Mailing address
3023 PACIFIC AVE SE, OLYMPIA, WA 98501-2042
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2006
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
Apr 30, 2008
—
Carl & Victoria Properties LLC
—
Trustees Deed
related
$2,040,000 · Heritage Bank
Feb 23, 2006
$330,000
Carl & Victoria Properties LLC
Wyad LLC
Warranty Deed
$210,000 · Heritage Bank
Jul 14, 2000
$365,000
Wyad LLC
Coumbs,john & Lois
Grant Deed
$315,000 · Seller
—
—
John W Coumbs
—
Deed Of Trust
related
$92,650 · Heritage 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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