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Property profile & analytics
OFF-MARKET
Estimated value
$1,010,000
Manufacturing properties
4098 Capitol SE Blvd, Olympia, WA 98501
Entity Owned
~
Est. High Equity
Property ID
US90-0477005
Property profile
Verified
Property type
Manufacturing properties
Use group
FOOD PROCESSING
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,620 SF
Lot
19.28 ac (839,837 SF)
APN
0947-00-45000
UPID
US90-0477005
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$950k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.01M
Owner & transaction history
City Of Tumwater
City Of Tumwater
since 2025
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+29.4%
Restaurant
$1.1M
+10.5%
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%
$1,030,000
6.5%
$950,000
7%
$885,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$985,000
Current use
AUTO REPAIR, GARAGE
$1,275,000
Change: +29% · Conversion: Easy
RESTAURANT
$1,090,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$1.01M
Range $909k – $1.11M · ±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
$133 / 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
$15
Tax year 2023
Assessed value
$4,650,200
Assessed 2022
Previous assessed
$3,799,100
+22.4% YoY
Effective rate
0.00%
On assessed value
Assessed land
$3,595,100
Assessed improvement
$1,055,100
Land market value
$3,595,100
Improvement market value
$1,055,100
Total market value
$4,650,200
Applied tax rate
440.0000
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
Manufacturing properties
Use group
FOOD PROCESSING
Status
Off-Market
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Total area
7,620 SF
Lot
19.28 ac (839,837 SF)
APN
0947-00-45000
UPID
US90-0477005
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
INDUSTRIAL (GENERAL) Current
Est. value
$985,000
AUTO REPAIR, GARAGE
Est. value
$1.3M
RESTAURANT
Est. value
$1.1M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RESTAURANT
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
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Lot
19.28 ac
Current owner
From public records · entity-resolved
City Of Tumwater
Entity
Mailing address
500 ADAMS ST SE, OLYMPIA, WA 98501
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2025
—
City Of Tumwater
Lott Clean Water Alliance
Warranty Deed
—
Dec 14, 2011
$4,000,000
Cleam Water Alliance Lott
Capital Salvage
Grant Deed
—
Nov 24, 2010
$24,911,850
Capital Salvage INC
Standard Te Svc Co Wa
Trustees Deed
related
—
Aug 10, 2010
$24,911
Capital Salvage INC
Standard Te Svc Co Wa
Trustees Deed
related
—
Apr 4, 2008
$1,000
Well B Ng
Bishop White & Marshall
Trustees Deed
—
Apr 2, 2004
$9,700,000
All American Bottled Water Cor
Miller Brewing
Grant Deed
$18,500,000 · Re Loans LLC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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