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Property profile & analytics
OFF-MARKET
Estimated value
$11,690,000
Office buildings
4565 7th SE Ave, Olympia, WA 98503-1075
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-0355625
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2001
Construction
STEEL FRAME
Total area
66,672 SF
Lot
0.64 ac (27,878 SF)
APN
8499-00-03100
UPID
US90-0355625
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
-
Washington State Gambling Commission State Government Office Health
-
Vocational Rehabilitation Social Service Agency Charitable Organization
-
Washington State Independent Living Council Association / Organization
-
Department of Services for the Blind Government Office
-
Washington State Rehabilitation Council Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$14.25M
Comparable Approach
Comparable
$12.43M
Blend (final)
Blend
$11.69M
Owner & transaction history
Department Of Social And Health Ser · 2 yrs held
Department Of Social And Health Ser
since 2023
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$16.9M
+24.9%
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%
$15,440,000
6.5%
$14,250,000
7%
$13,235,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$13,495,000
Current use
COMMERCIAL (GENERAL)
$16,860,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$11.69M
Range $10.52M – $12.86M · ±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
$175 / 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
$156,524
Tax year 2023
Assessed value
$16,478,600
Assessed 2022
Previous assessed
$9,202,400
+79.1% YoY
Effective rate
0.95%
On assessed value
Assessed land
$442,800
Assessed improvement
$16,035,800
Land market value
$442,800
Improvement market value
$16,035,800
Total market value
$16,478,600
Applied tax rate
241.0000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
2001
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
4
Total area
66,672 SF
Lot
0.64 ac (27,878 SF)
APN
8499-00-03100
UPID
US90-0355625
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 Current
Est. value
$13.5M
COMMERCIAL (GENERAL)
Est. value
$16.9M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
2001
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
4
Lot
0.64 ac
Current owner
From public records · entity-resolved
Department Of Social And Health Ser
Entity
Free & Clear · 2 yrs held
Mailing address
PO BOX 41468, OLYMPIA, WA 98504-1468
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 21, 2023
—
Department Of Social And Health Ser
Dm Park Ventures LLC
Lease
—
Feb 22, 2022
—
Dm Ventures Trio LLC
Dm Park Ventures LLC
Quit Claim Deed
related
$18,500,000 · Symetra Life Insurance Co
Jul 2, 2021
$11,400,000
Dm Park Ventures LLC
Mlmt 2005 Mcp1 Wa Office Prop LLC
Special Warranty Deed
—
Aug 9, 2018
$6,344,000
Mlmt 2005-mcp1 Washington Offi
Rainier Foreclosure Svcs|cdc Properties I LLC
Trustees Deed
related
—
Sep 28, 2016
—
Seahawk Portfolio LLC
Cdc Properties I LLC
Quit Claim Deed
related
—
Oct 1, 2004
$37,049,506
Cdc Properties I LLC
Capital Dev
Trustees Deed
$43,257,500 · Merrill Lynch Mortgage Lending
Oct 1, 2004
—
Cdc Properties I LLC
—
Deed Of Trust
related
$43,257,500 · Merrill Lynch Mortgage Lending
Sep 23, 2004
—
Capital Dev Co
Rainier General INC
Quit Claim Deed
related
—
—
—
Rainier General INC
—
Deed Of Trust
related
$11,573,702 · Seafirst Bank
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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