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Property profile & analytics
OFF-MARKET
Estimated value
$8,185,000
Hotels
415 Capitol N Way, Olympia, WA 98501-1024
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1703447
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
68,604 SF
Lot
1.38 ac (60,113 SF)
APN
7850-01-00300
UPID
US90-1703447
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
-
DoubleTree by Hilton Hotel Olympia Hotel & Motel
-
Premium Parking - P5502 Parking Lot & Garage
-
PressNW Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.97M
CAP Approach
CAP
$6.29M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.19M
Owner & transaction history
Lexmar Olympia LLC · 2 yrs held
Lexmar Olympia LLC
since 2023
Last sale
$7.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$11.5M
+312.2%
Restaurant
$9.8M
+252.1%
Industrial (general)
$8.9M
+218.5%
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
$9,175,000
ML approach
$9,965,000
CAP Approach
CAP Return
Estimation
6%
$6,810,000
6.5%
$6,285,000
7%
$5,840,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$11,475,000
Change: +312% · Conversion: Difficult
RESTAURANT
$9,805,000
Change: +252% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$8,870,000
Change: +218% · Conversion: Difficult
OFFICE BUILDING
$6,965,000
Change: +150% · Conversion: Difficult
RETAIL STORES
$6,765,000
Change: +143% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,195,000
Change: +123% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,120,000
Change: +120% · Conversion: Difficult
Blend value · Realmo final
$8.19M
Range $7.37M – $9.00M · ±10% · vs last sale $7.75M (Jun 30 2023)
Last sale anchor
$7.75M
Jun 30 2023
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
$119 / 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
$139,063
Tax year 2023
Assessed value
$13,964,300
Assessed 2022
Previous assessed
$13,964,300
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$2,075,000
Assessed improvement
$11,889,300
Land market value
$2,075,000
Improvement market value
$11,889,300
Total market value
$13,964,300
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
3
Bathrooms
1
Total area
68,604 SF
Lot
1.38 ac (60,113 SF)
APN
7850-01-00300
UPID
US90-1703447
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
$11.5M
RESTAURANT
Est. value
$9.8M
INDUSTRIAL (GENERAL)
Est. value
$8.9M
OFFICE BUILDING
Est. value
$7.0M
RETAIL STORES
Est. value
$6.8M
WAREHOUSE, STORAGE
Est. value
$6.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.1M
AUTO REPAIR, GARAGE
RESTAURANT
INDUSTRIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
3
Bathrooms
1
Lot
1.38 ac
Current owner
From public records · entity-resolved
Lexmar Olympia LLC
Entity
Mailing address
11541 NUCKOLS RD, GLEN ALLEN, VA 23059-5668
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2023
—
Lexmar Olympia LLC
—
Deed
related
$10,500,000 · Mountain Pacific Bank
Jun 30, 2023
$7,750,000
Lexmar Olympia LLC
Nht Olympia LLC
Bargain And Sale Deed
—
May 4, 2018
$158,535
Nht Olympia LLC
Pih Olympia LLC
Grant Deed
$55,000,000 · Acrc Lender
Sep 16, 2011
—
Pih Olympia LLC
—
Deed Of Trust
related
$63,000,000 · Bank Of America
Apr 5, 2006
$8,914,211
Pih Olympia LLC
Olympia Inn Properties LLC
Special Warranty Deed
$68,150,000 · Merrill Lynch Mortgage Lending INC
Jan 21, 2003
—
Olympia Inn Properties LLC
Vips Hotels INC
Quit Claim Deed
related
—
Mar 15, 2000
—
Vips Industries INC
Vips Industries INC
Quit Claim Deed
related
$6,000,000 · Us Bank NA
May 21, 1999
$10,000
Vips Industries INC
Cascade Group Ltd
Grant Deed
—
Sep 25, 1998
—
Cascade Group Ltd LP
—
Deed Of Trust
related
$1,000,000 · First Community Bank Washingto
Sep 22, 1998
—
Cascade Group Ltd LP
Yard Irds Properties LP
Grant Deed
related
—
—
—
Pih Olympia LLC
—
Deed Of Trust
related
—
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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