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Property profile & analytics
OFF-MARKET
Estimated value
$1,250,000
Strip malls
3959 Martin E Way Olympia, WA 98506-5277
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1757376
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,033 SF
Lot
0.89 ac (38,768 SF)
APN
1181-72-41600
UPID
US90-1757376
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
-
Lovers (Bike/Boat/Book/etc) Store Clothing & Fashion Store
-
Martin Way Massage Alternative Medicine Practice Spa & Massage Center
-
Golden Hour Tattoo Tattoo & Piercing Shop
-
Gallery Boom Art Gallery Gift Shop
-
Bulldog Tattoo Parlor Tattoo & Piercing Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.25M
Owner & transaction history
Sherwin Williams Plaza Lllp · 13 yrs held
Sherwin Williams Plaza Lllp
since 2012
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,845,000
Change: 0% · Conversion: Difficult
RESTAURANT
$1,575,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$1,315,000
Change: 0% · Conversion: Moderate
RETAIL STORES
$1,200,000
Change: 0% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,195,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,095,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$995,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$1.25M
Range $1.13M – $1.38M · ±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
$113 / 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
$23,169
Tax year 2024
Assessed value
$2,380,100
Assessed 2023
Previous assessed
$2,727,000
-12.7% YoY
Effective rate
0.97%
On assessed value
Assessed land
$790,800
Assessed improvement
$1,589,300
Land market value
$790,800
Improvement market value
$1,589,300
Total market value
$2,380,100
Applied tax rate
114.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
11,033 SF
Lot
0.89 ac (38,768 SF)
APN
1181-72-41600
UPID
US90-1757376
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
AUTO REPAIR, GARAGE
Est. value
$1.8M
RESTAURANT
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$995,000
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
Sherwin Williams Plaza Lllp
Entity
Mailing address
3861 80TH AVE SE, MERCER ISLAND, WA 98040-3526
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
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, 2012
—
Sherwin Williams Plaza Lllp
Sherwin-williams Plaza Associa
Quit Claim Deed
related
$1,000,000 · Standard Insurance Co
Oct 25, 2002
—
Sherwin-williams Plaza Assoc
—
Deed Of Trust
related
$1,000,000 · Stancorp Mortgage Investors
May 7, 1991
$1,723,500
Sherwin-williams Plaza
Unknown
Grant Deed
—
Mar 31, 1989
$421,800
INC INC Gramor Properties
Armstrong, Patricia C Trust
Grant Deed
—
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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