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Property profile & analytics
OFF-MARKET
Estimated value
$4,525,000
Grocery and convenience stores
3403 Steamboat Is NW Rd Olympia, WA 98502-4876
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1124494
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,600 SF
Lot
1.57 ac (68,389 SF)
APN
0926-00-15000
UPID
US90-1124494
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
-
Chevron Gas Station Gas Company
-
Steamboat Island Coffee Shop Cafe & Coffee Shop
-
Island Market Grocery & Convenience Store Food Market
-
Fresh Start Housing Association / Organization
-
LibertyX Bitcoin ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.49M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.02M
Blend (final)
Blend
$4.53M
Owner & transaction history
Sandhu & Gill LLC · 4 yrs held
Sandhu & Gill LLC
since 2022
Last sale
$4.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.4M
+52.3%
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
$4,515,000
ML approach
$4,490,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,410,000
Change: +52% · Conversion: Difficult
Blend value · Realmo final
$4.53M
Range $4.07M – $4.98M · ±10% · vs last sale $4.80M (Jan 5 2022)
Last sale anchor
$4.80M
Jan 5 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
$686 / 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
$23,747
Tax year 2023
Assessed value
$2,897,300
Assessed 2022
Previous assessed
$1,363,000
+112.6% YoY
Effective rate
0.82%
On assessed value
Assessed land
$660,600
Assessed improvement
$2,236,700
Land market value
$660,600
Improvement market value
$2,236,700
Total market value
$2,897,300
Applied tax rate
346.0000
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
Off-Market
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
6,600 SF
Lot
1.57 ac (68,389 SF)
APN
0926-00-15000
UPID
US90-1124494
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.4M
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
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
1.57 ac
Current owner
From public records · entity-resolved
Sandhu & Gill LLC
Entity
Mailing address
28522 53RD AVE S, AUBURN, WA 98001-1906
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
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 24, 2025
—
Sandhu & Gill LLC
—
Deed
related
$2,162,000 · Ameriturst Cdc
Sep 9, 2024
—
Sandhu & Gill LLC
—
Deed
related
$2,110,000 · First Citizens Bank & Trust Co
Jan 5, 2022
$4,800,000
Sandhu & Gill LLC
Sang K Lee
Warranty Deed
$300,000 · Sang Lee
Nov 21, 2007
$2,700,000
Sang K Lee
Amona Investments INC
Warranty Deed
$3,144,000 · Venture Bank
Jan 19, 2007
$2,200,000
Amona Investments INC
Williams Island Market LLC
Warranty Deed
$2,932,500 · Sterling Savings Bank
Aug 26, 1997
—
Osullivans Market
—
Grant Deed
related
$355,000 · Centennial Bank
May 31, 1990
$465,000
Kevin O Sullivan
Unknown
Grant Deed
—
—
—
D M Osullivan Ltd
—
Deed Of Trust
related
$295,000 · Centennial Bank
—
—
D M Osullivan Ltd
—
Deed Of Trust
related
$1,087,500 · First Community Bank Washingto
—
—
Sang K Lee
—
Deed Of Trust
related
$3,070,000 · Hanmi Bank
—
—
Sang K Lee
—
Deed Of Trust
related
$2,906,000 · Unibank
—
—
Sang K Lee
—
Deed Of Trust
related
$2,827,000 · Unibank
—
—
Amona Investments INC
—
Deed Of Trust
related
$1,244,000 · Rural Housing & Community Dev
—
—
William P Ireland
—
Deed Of Trust
related
$18,000 · Washington State Employees Cu
—
—
O Sullivan Kevin
—
Deed Of Trust
related
$350,000 · First Community Bank Washingto
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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