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Property profile & analytics
OFF-MARKET
Estimated value
$915,000
Commercial real estate
422 Carpenter SE Rd Olympia, WA 98503-7906
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-1712018
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2009
Construction
STEEL FRAME
Total area
7,400 SF
Lot
0.57 ac (24,829 SF)
APN
1181-52-40302
UPID
US90-1712018
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
-
420 Carpenter (Bike/Boat/Book/etc) Store
-
Winter Rose Body Therapy Inc Alternative Medicine Practice Spa & Massage Center
-
April R. Gaydos, RRT Alternative Medicine Practice Spa & Massage Center
-
Upper Level Cut Lounge Barbershop Barber Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$935k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$915k
Owner & transaction history
Champagne Merchandising INC · 7 yrs held
Champagne Merchandising INC
since 2018
7 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%
$1,010,000
6.5%
$935,000
7%
$865,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,500,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$915k
Range $824k – $1.01M · ±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
$124 / 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
$15,304
Tax year 2023
Assessed value
$1,527,800
Assessed 2022
Previous assessed
$1,024,500
+49.1% YoY
Effective rate
1.00%
On assessed value
Assessed land
$163,300
Assessed improvement
$1,364,500
Land market value
$163,300
Improvement market value
$1,364,500
Total market value
$1,527,800
Applied tax rate
239.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2009
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
7,400 SF
Lot
0.57 ac (24,829 SF)
APN
1181-52-40302
UPID
US90-1712018
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
OFFICE BUILDING
Est. value
$1.5M
OFFICE BUILDING
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
2009
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
0.57 ac
Current owner
From public records · entity-resolved
Champagne Merchandising INC
Entity
Mailing address
PO BOX 1966, OLYMPIA, WA 98507-1966
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 4, 2018
—
Champagne Merchandising INC
Normoan LLC
Warranty Deed
—
Aug 17, 2016
—
Normoan LLC
Silver King Dev Corp
Grant Deed
related
$625,000 · Silver King Dev Corp
Aug 12, 2016
$825,000
Normoan LLC
Silver King Dev Corp
Warranty Deed
$625,000 · Sikver King Dev Corp
Apr 17, 2008
$165,000
Silver King Dev Corp
Gable,adrian
Warranty Deed
—
Apr 15, 2008
—
Silver King Dev Corp
—
Trustees Deed
related
$1,089,247 · Thurston First Bank
Apr 7, 2005
$165,000
Silver King Dev Corp
Gable,adrian L
Grant Deed
—
Aug 20, 2004
—
Tom Zuchlewski
Ashlock,jennifer
Quit Claim Deed
related
—
Aug 20, 2004
$150,000
Adrian L Gable
Cox,walter
Warranty Deed
—
Jul 16, 1998
$256,020
Walter Cox
Frostad,patrick
Grant Deed
$204,816 · Seller
—
—
Normoan LLC
—
Deed Of Trust
related
$625,000 · Silver King Dev Corp
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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