Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4550 3rd SE Ave Olympia, WA 98503-1033

    • Office buildings
    • 20,514 SF
    • 1.32 lot acres
    OFF-MARKET
    Value Estimations
    $3,515,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1600944
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • John W Park, DMD / Dental Office
    • Willamette Dental Group - Olympia / Dental Office
    • Providence Radiant Care / Physician
    • Jennifer Navarro, LD / Dental Office
    • Ahmad H Oubaid, DMD / Dental Office

    Property Details for 4550 3rd SE Ave

    Year built
    1978
    Construction
    STEEL FRAME
    Lot size
    1.32 lot acres
    Property size
    20,514 SF
    Property type
    Office buildings
    APN
    1181-74-10200
    APU
    11817410200

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,750,000
      6.5%
      $4,385,000
      7%
      $4,070,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,673,000
      Market price range: $2.68M - $5.74M
      AI Estimate
      $2,480,000
      Market price range: $1.05M - $4.41M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,150,000
      Current use
      COMMERCIAL (GENERAL)
      $5,190,000
      Change: +25% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.824
    Latitude
    47.0459
    CBSA code
    36500
    CBSA name
    OLYMPIA, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $46,264
    $433,300
    $4,436,500
    $4,869,800
    -
    $433,300
    $4,436,500
    $4,869,800

    Comparable in this City

    • Value Estimation by Request
      3,477 SF

      1110 Golf Clb SE Rd

      PROFESSIONAL BUILDING • 3,477 SF
      1110 Golf Clb SE Rd, Lacey, WA 98503-2302
      View Details
    • Value Estimation
      $650,000
      4,928 SF

      5006 Lacey SE Blvd

      PROFESSIONAL BUILDING • 4,928 SF
      5006 Lacey SE Blvd, Lacey, WA 98503-5729
      View Details
    • Value Estimation by Request
      0.72 Acres

      Lacey, WA 98503

      PROFESSIONAL BUILDING • 0.72 Acres
      Lacey, WA 98503
      View Details
    • Value Estimation
      $565,000
      3,360 SF

      7046 Pacific SE Ave

      PROFESSIONAL BUILDING • 3,360 SF
      7046 Pacific SE Ave, Olympia, WA 98503-1474
      View Details
    • Value Estimation
      $2,605,000
      16,860 SF

      420 Golf Clb SE Rd

      PROFESSIONAL BUILDING • 16,860 SF
      420 Golf Clb SE Rd, Lacey, WA 98503-1048
      View Details
    • Value Estimation
      $1,015,000
      4,640 SF

      4510 Intelco SE Loop

      PROFESSIONAL BUILDING • 4,640 SF
      4510 Intelco SE Loop, Lacey, WA 98503-6004
      View Details

    Similar Nearby for Sale

    • $5,700,000

      Versatile Office Building with Access

      32,000 SF office building with exceptional access and visibility.
      4500 3Rd Ave Se, Lacey, WA 98503
      View Details
    • Contact for pricing
      28,334 SF

      Lacey Corporate Center Corporate Campus

      Upscale Lacey corporate campus on over 7 acres.
      4525 Intelco Loop SE, Lacey, WA 98503
      View Details
    • $11,800,000
      45,699 SF

      Lacey Corporate Campus - $11.8M

      Prime Lacey Office Building, 45,699 SF
      4525 Intelco Loop, Lacey, WA 98503
      View Details
    • $1,500,000

      Lacey Commercial Land: Prime Development Site

      $1.5M, Versatile Zoning, Excellent Location
      5115 Corporate Center Ct, Lacey, WA 98503
      View Details
    • Contact for pricing

      Lacey Crossroads Development Opportunity

      Development lot in Lacey Crossroads with updated zoning.
      5320 Tiffani Ln SE, Lacey, WA 98503
      View Details
    • $850,000
      0.53 Acres

      Lacey Commercial Lot - Great Location!

      Level lot, ideal for redevelopment. Car wash bays, near I-5.
      4710 Lacey Blvd, Lacey, WA 98503
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      198,970 SF

      Lacey Office Campus For Lease

      Master-planned office campus with modern updates and excellent access.
      605-673 Woodland Square Loop SE, Lacey, WA 98503
      View Details
    • Contact for pricing
      53,988 SF

      Spacious Lacey Office Building Available

      Updated office building with large, dividable floor plates for rent.
      4450 10Th Ave SE, Lacey, WA 98503
      View Details
    • Contact for pricing
      15,784 SF

      Lacey Office Building For Lease

      Two-story office building in Lacey, near shopping and services.
      4522 Pacific Ave SE, Lacey, WA 98503
      View Details
    • $23 SF/Yr
      51,226 SF

      Lacey Office Building - 51,226 SF

      Prime Lacey office space, ample parking, great location.
      4200 6Th Ave, Lacey, WA 98503
      View Details
    • $16 SF/Yr
      1,580 SF

      Clearbrook Business Park Flex Space

      Flexible office, retail, and warehouse space available for rent.
      5709 Lacey Blvd SE, Lacey, WA 98503
      View Details
    • $18 SF/Yr
      16,724 SF

      Bell Centre Executive Suites

      Lacey, WA Office Space Available
      4160 6Th Ave, Lacey, WA 98503
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4550 3rd SE Ave
    Olympia, WA 98503-1033
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!