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Property profile & analytics
FOR LEASE
Community centers
400 Cooper Point Rd SW Olympia, WA 98502
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-0827396
No photos on file
For Lease
$2,365,000
400 Cooper Point Rd SW, Olympia, WA 98502
View Listing →
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
23,000 SF
APN
1281-63-10102
UPID
US90-0827396
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
-
Olympia Goodwill Charitable Organization Social Service Agency
-
Hertz Car Rental - Olympia Hle Car Rental Facility
-
BJJ OLYMPIA - Brazilian Jiu-jitsu | Kickboxing | MMA | Self Defense | Private Lessons | Kids Classes Training Center Sports School
-
Emperor's Palace Restaurant Restaurant
-
United States Postal Service Shipping And Mailing Service Post 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
$2.37M
Owner & transaction history
Wig Property LLC Cv · 4 yrs held
Wig Property LLC Cv
since 2022
5 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
RESTAURANT
$3,285,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,820,000
Change: 0% · Conversion: Easy
OFFICE BUILDING
$2,790,000
Change: 0% · Conversion: Moderate
RETAIL STORES
$2,635,000
Change: 0% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,620,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,495,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.37M
Range $2.13M – $2.60M · ±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
$103 / 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
$28,677
Tax year 2024
Assessed value
$2,746,700
Assessed 2023
Previous assessed
$2,469,900
+11.2% YoY
Effective rate
1.04%
On assessed value
Assessed improvement
$2,746,700
Improvement market value
$2,746,700
Total market value
$2,746,700
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
23,000 SF
APN
1281-63-10102
UPID
US90-0827396
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
$3.3M
COMMERCIAL (GENERAL)
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.8M
RETAIL STORES
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
INDUSTRIAL (GENERAL)
Est. value
$2.5M
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
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
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Wig Property LLC Cv
Entity
Free & Clear · 4 yrs held
Mailing address
4811 134TH PL SE, BELLEVUE, WA 98006-3478
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 7, 2022
—
Wig Properties LLC Lacey
—
Deed
related
$7,800,000 · Homestreet Bank
Jan 4, 2022
—
Wig Property LLC Cv
Wig Property LLC Lacey
Quitclaim Deed
related
—
Dec 30, 2020
—
Wig Properties LLC-lacey
Capitol Village Associates
Grant Deed
related
$7,800,000 · Homestreet Bk
Dec 30, 2020
$13,600,000
Wig Proerties LLC
Capitol Village Associates
Warranty Deed
—
Jan 12, 1999
—
Capitol Village Associates
—
Deed Of Trust
related
$3,100,000 · Security Life Of Denver
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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