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Property profile & analytics
OFF-MARKET
Office buildings
5203 Lacey SE Blvd, Lacey, WA 98503-7236
Individually Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-1701273
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1955
Construction
WOOD FRAME
Total area
3,390 SF
Lot
0.42 ac (18,295 SF)
APN
4190-02-00100
UPID
US90-1701273
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Homes First · 9 yrs held
Homes First
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Lacey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lacey 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$10
Tax year 2023
Assessed value
$743,600
Assessed 2022
Previous assessed
$652,400
+14.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$352,400
Assessed improvement
$391,200
Land market value
$352,400
Improvement market value
$391,200
Total market value
$743,600
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
1955
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
1
Total area
3,390 SF
Lot
0.42 ac (18,295 SF)
APN
4190-02-00100
UPID
US90-1701273
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
Building & site characteristics
From public records
Year built
1955
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
1
Lot
0.42 ac
Current owner
From public records · entity-resolved
Homes First
Individual
Mailing address
5203 LACEY BLVD SE STE A, LACEY, WA 98503-7236
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2017
—
Homes First
—
Grant Deed
related
$2,004,850 · Olympia Fed'l S&l
Sep 16, 2016
—
Homes First
—
Deed
related
$136,500 · Miscellaneous Govt Agcy
Sep 9, 2016
$389,775
Homes First
Corral West LLC
Warranty Deed
$260,000 · Olympia Fsla
Oct 27, 2006
$490,000
Corral West LLC
Jbk Communications INC
Warranty Deed
$245,000 · Timberland Bank
—
—
Jbk Construction INC
—
Deed Of Trust
related
$30,000 · Timberland Savings Bank
—
—
Corral West LLC
—
Deed Of Trust
related
$206,000 · Rural Housing & Community Dev
—
—
Jbk Communications INC
—
Deed Of Trust
related
$101,500 · Timberland Savings Bank
—
—
Homes First
—
Deed Of Trust
related
$136,500 · Miscellaneous Govt Agcy
—
—
Jbk Communications INC
—
Deed Of Trust
related
$50,000 · Timberland Bank
—
—
Jkb Communications INC
—
Deed Of Trust
related
$141,922 · Timberland Bank
—
—
Jbj Communications INC
—
Deed Of Trust
related
$95,000 · First Community Bank Washingto
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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