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Property profile & analytics
OFF-MARKET
Office buildings
319 7th SE Ave Olympia, WA 98501-1325
Entity Owned
26-yr Hold
~
Est. High Equity
Property ID
US90-1356245
Property summary
AI-generated overview
This well-maintained Class B office building, located at 319 7th Ave SE in Olympia, WA 98501, offers a variety of suite sizes perfect for businesses seeking professional space in Thurston County. Built in 1968, the two-story building encompasses 18,546 square feet on a 0.34-acre lot. The property is zoned SRV - Professional, allowing for a range of professional office uses. Currently, there are 3,661 square feet of vacant space available, divisible into units as small as 603 square feet, with a maximum contiguous space of 1,716 square feet. Four spaces are currently available, ranging in size from 603 to 4,224 square feet. The building's convenient downtown location provides easy access to amenities and transportation. This is an excellent opportunity for businesses seeking a well-established and centrally located office space in Olympia. The APN is 81003700300.
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1901
Lot
0.17 ac (7,405 SF)
APN
8100-37-00200
UPID
US90-1356245
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
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Ly Van B OD Physician
-
NW Momentum Health Partners Association Or Organization
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VanVision Physician
-
Van Bich Ly Physician
-
Internal Revenue Service (IRS) Taxpayer Assistance Center Tax Department Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
R P Denitz Co LLC · 26 yrs held
R P Denitz Co LLC
since 1999
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,801
Tax year 2023
Assessed value
$179,900
Assessed 2022
Previous assessed
$259,600
-30.7% YoY
Effective rate
1.00%
On assessed value
Assessed land
$168,500
Assessed improvement
$11,400
Land market value
$168,500
Improvement market value
$11,400
Total market value
$179,900
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1901
Heating
NONE
Lot
0.17 ac (7,405 SF)
APN
8100-37-00200
UPID
US90-1356245
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
1901
Heating
NONE
Lot
0.17 ac
Current owner
From public records · entity-resolved
R P Denitz Co LLC
Entity
Mailing address
321 CLEVELAND AVE SE STE #209, TUMWATER, WA 98501-3319
Ownership since
1999
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
Oct 8, 1999
$1,450,000
R P Denitz Co LLC
Mcswain,charles A & Phyllis M
Grant Deed
$950,000 · Heritage Bank
Nov 18, 1992
$950,000
Charles Etal Mc Swain
Unknown
Grant Deed
—
—
—
R P Denitz Co LLC
—
Deed Of Trust
related
$1,120,065 · West Coast Bank
—
—
R P Denitz Co LLC
—
Deed Of Trust
related
$2,480,000 · South Sound 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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