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Property profile & analytics
FOR SALE
Office buildings
510 Plum St SE, Olympia, WA 98501
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-1259825
For Sale
$1,750,000
510 Plum St SE, Olympia, WA 98501
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1989
Construction
WOOD FRAME
Total area
10,630 SF
Lot
0.48 ac (20,909 SF)
APN
7820-22-00100
UPID
US90-1259825
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 Hospitality Association Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.27M
Comparable Approach
Comparable
$1.19M
Blend (final)
Blend
$1.70M
Owner & transaction history
Washington Restaurant Association · 8 yrs held
Washington Restaurant Association
since 2017
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.7M
+5.8%
Retail stores
$2.6M
+3.4%
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%
$2,460,000
6.5%
$2,270,000
7%
$2,110,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,540,000
Current use
COMMERCIAL (GENERAL)
$2,690,000
Change: +6% · Conversion: Easy
RETAIL STORES
$2,625,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$1.70M
Range $1.53M – $1.86M · ±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
$159 / 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
$23,550
Tax year 2023
Assessed value
$2,364,000
Assessed 2022
Previous assessed
$1,581,900
+49.4% YoY
Effective rate
1.00%
On assessed value
Assessed land
$711,600
Assessed improvement
$1,652,400
Land market value
$711,600
Improvement market value
$1,652,400
Total market value
$2,364,000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Sale
Year built
1989
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
2
Total area
10,630 SF
Lot
0.48 ac (20,909 SF)
APN
7820-22-00100
UPID
US90-1259825
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
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.7M
RETAIL STORES
Est. value
$2.6M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
1989
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
2
Lot
0.48 ac
Current owner
From public records · entity-resolved
Washington Restaurant Association
Individual
Mailing address
510 PLUM ST SE STE #200, OLYMPIA, WA 98501-1587
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
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
Aug 18, 2017
—
Washington Restaurant Association
—
Deed
related
$820,000 · Heritage Bank
Sep 20, 2016
—
Washington Restaurant Association
—
Deed
related
$300,000 · Heritage Bank
—
—
Washington Restaurant Assn
—
Deed Of Trust
related
$767,900 · Heritage 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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