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Property profile & analytics
OFF-MARKET
Estimated value
$1,995,000
Grocery and convenience stores
4505 Martin E Way Olympia, WA 98516-5364
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0930667
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1995
Construction
WOOD FRAME
Total area
6,867 SF
Lot
1.82 ac (79,279 SF)
APN
1181-71-41600
UPID
US90-0930667
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
-
Red Lobster Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.80M
CAP Approach
CAP
$1.28M
Comparable Approach
Comparable
$1.54M
Blend (final)
Blend
$2.00M
Owner & transaction history
Main & Main Del Paso LLC · 4 yrs held
Main & Main Del Paso LLC
since 2021
Last sale
$2.1M
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
$2,030,000
ML approach
$1,800,000
CAP Approach
CAP Return
Estimation
6%
$1,380,000
6.5%
$1,275,000
7%
$1,185,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,765,000
Current use
Blend value · Realmo final
$2.00M
Range $1.80M – $2.19M · ±10% · vs last sale $2.07M (Aug 6 2021)
Last sale anchor
$2.07M
Aug 6 2021
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
$291 / 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
$42,583
Tax year 2023
Assessed value
$4,329,800
Assessed 2022
Previous assessed
$3,266,900
+32.5% YoY
Effective rate
0.98%
On assessed value
Assessed land
$1,213,800
Assessed improvement
$3,116,000
Land market value
$1,213,800
Improvement market value
$3,116,000
Total market value
$4,329,800
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1995
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
6,867 SF
Lot
1.82 ac (79,279 SF)
APN
1181-71-41600
UPID
US90-0930667
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
RETAIL STORES Current
Est. value
$2.8M
RETAIL STORES Current
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
1995
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
1.82 ac
Current owner
From public records · entity-resolved
Main & Main Del Paso LLC
Entity
Mailing address
2404 ALMA AVE, MANHATTAN BEACH, CA 90266-4340
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 6, 2021
$2,071,000
Main & Main Del Paso LLC
A& M Olympia Holidings LLC
Warranty Deed
$860,000 · Riverview Community Bank
Jun 13, 2019
—
A & M Olympia Holdings LLC
—
Deed
related
—
Oct 10, 2017
$2,000,000
A & M Olympia Holdings LLC
Moyer Thomas P Trust
Warranty Deed
—
Jan 20, 2012
—
Moyer Thomas P Trust
Moyer Thomas P Trust
Quit Claim Deed
—
Oct 2, 1989
$399,999
Wayne/campbell J Person
Unknown
Grant Deed
—
May 1, 1989
$551,100
Tom Moyer Theatres
General Amer. Theaters, INC.
Grant Deed
—
—
—
A & M Olympia Holdings LLC
—
Loan Modification
related
—
—
—
Moyer,thomas P Trust
—
Deed Of Trust
related
$300,000 · Granville Holdings INC
—
—
Moyer,thomas P Trust
—
Deed Of Trust
related
$300,000 · Granville Holdings INC
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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