New search
Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Retail space
500 Washington SE St, Olympia, WA 98501-1330
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0836629
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1918
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,328 SF
Lot
0.03 ac (1,307 SF)
APN
7850-25-00100
UPID
US90-0836629
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
-
Frankly Earth / Alien Outpost Department Store Grocery & Convenience Store
-
Jeffers Studio Building Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$480k
CAP Approach
CAP
$430k
Comparable Approach
Comparable
$670k
Blend (final)
Blend
$525k
Owner & transaction history
Todd Tovani · 3 yrs held
Todd Tovani
since 2022
Last sale
$553,500
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$590,000
+2.3%
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
$520,000
ML approach
$480,000
CAP Approach
CAP Return
Estimation
6%
$470,000
6.5%
$430,000
7%
$400,000
Alternative Use
Use
Estimation
RETAIL STORES
$575,000
Current use
COMMERCIAL (GENERAL)
$590,000
Change: +2% · Conversion: Easy
OFFICE BUILDING
$555,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$525k
Range $473k – $578k · ±10% · vs last sale $554k (Oct 31 2022)
Last sale anchor
$554k
Oct 31 2022
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
$226 / 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
$5,408
Tax year 2023
Assessed value
$542,200
Assessed 2022
Previous assessed
$364,100
+48.9% YoY
Effective rate
1.00%
On assessed value
Assessed land
$44,100
Assessed improvement
$498,100
Land market value
$44,100
Improvement market value
$498,100
Total market value
$542,200
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1918
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Bathrooms
2
Total area
2,328 SF
Lot
0.03 ac (1,307 SF)
APN
7850-25-00100
UPID
US90-0836629
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
$575,000
COMMERCIAL (GENERAL)
Est. value
$590,000
OFFICE BUILDING
Est. value
$555,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1918
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
2
Lot
0.03 ac
Current owner
From public records · entity-resolved
Todd Tovani
Individual
Mailing address
609 COLUMBIA ST SWA, OLYMPIA, WA 98501-1213
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 31, 2022
$553,500
Todd Tovani
Jeffers Building LLC
Warranty Deed
$503,500 · Jeffers Builders LLC
Oct 31, 2022
—
Todd Tovani
Kimberly Shawn Tovani
Intrafamily Transfer
related
—
Jun 28, 2005
—
Jeffers Building LLC
Panowicz,a R & Pamela J
Quit Claim Deed
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 500 Washington SE St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
