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Property profile & analytics
OFF-MARKET
Estimated value
$5,165,000
Grocery and convenience stores
516 4th W Ave, Olympia, WA 98501-1010
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US90-1465593
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
29,393 SF
Lot
1.92 ac (83,635 SF)
APN
9100-63-00000
UPID
US90-1465593
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
-
Bayview Thriftway Specialty Food Shop Supermarket
-
Bayview School of Cooking Vocational School Training Center
-
Dancing Goats Espresso Bar Cafe & Coffee Shop
-
DVDXpress @ Bayview Thriftway Cinema (Bike/Boat/Book/etc) Store
-
Bayview Catering Event Planning Wedding Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.46M
Comparable Approach
Comparable
$4.04M
Blend (final)
Blend
$5.17M
Owner & transaction history
Stormans INC
Stormans INC
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.4M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,915,000
6.5%
$5,460,000
7%
$5,070,000
Alternative Use
Use
Estimation
RETAIL STORES
$7,265,000
Current use
COMMERCIAL (GENERAL)
$7,435,000
Change: +2% · Conversion: Easy
OFFICE BUILDING
$7,025,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$5.17M
Range $4.65M – $5.68M · ±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
$176 / 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
$81,526
Tax year 2023
Assessed value
$8,186,200
Assessed 2022
Previous assessed
$6,169,800
+32.7% YoY
Effective rate
1.00%
On assessed value
Assessed land
$3,893,500
Assessed improvement
$4,292,700
Land market value
$3,893,500
Improvement market value
$4,292,700
Total market value
$8,186,200
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
29,393 SF
Lot
1.92 ac (83,635 SF)
APN
9100-63-00000
UPID
US90-1465593
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
$7.3M
COMMERCIAL (GENERAL)
Est. value
$7.4M
OFFICE BUILDING
Est. value
$7.0M
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
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
1.92 ac
Current owner
From public records · entity-resolved
Stormans INC
Entity
Mailing address
1908 4TH AVE E, OLYMPIA, WA 98506-4632
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Stormans INC
—
Deed Of Trust
related
$1,026,750 · Thurston First Bank
—
—
Stormans INC
—
Deed Of Trust
related
$750,000 · Key Bank NA
—
—
Stormans INC
—
Deed Of Trust
related
$500,000 · Key Bank NA
—
—
Stormans INC
—
Deed Of Trust
related
$500,000 · Key Bank NA
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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