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Property profile & analytics
OFF-MARKET
Estimated value
$960,000
Office buildings
530 Lilly SE Rd Olympia, WA 98501-2105
Individually Owned
2-yr Hold
Free & Clear
Property ID
US90-1706156
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,929 SF
Lot
0.54 ac (23,522 SF)
APN
6510-05-01300
UPID
US90-1706156
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
-
Custom Care Solutions Medical Supply Store
-
Sound Prosthetics & Orthotics Orthotics & Prosthetics Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$960k
CAP Approach
CAP
$840k
Comparable Approach
Comparable
$1.21M
Blend (final)
Blend
$960k
Owner & transaction history
Garth Michael Knapp · 2 yrs held
Garth Michael Knapp
since 2024
Last sale
$960,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$995,000
+5.8%
Retail stores
$970,000
+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
$960,000
ML approach
$960,000
CAP Approach
CAP Return
Estimation
6%
$910,000
6.5%
$840,000
7%
$780,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$940,000
Current use
COMMERCIAL (GENERAL)
$995,000
Change: +6% · Conversion: Easy
RETAIL STORES
$970,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$960k
Range $864k – $1.06M · ±10% · vs last sale $960k (Jan 10 2024)
Last sale anchor
$960k
Jan 10 2024
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
$244 / 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
$10,069
Tax year 2023
Assessed value
$1,023,100
Assessed 2022
Previous assessed
$758,800
+34.8% YoY
Effective rate
0.98%
On assessed value
Assessed land
$213,000
Assessed improvement
$810,100
Land market value
$213,000
Improvement market value
$810,100
Total market value
$1,023,100
Applied tax rate
114.0000
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
3,929 SF
Lot
0.54 ac (23,522 SF)
APN
6510-05-01300
UPID
US90-1706156
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
$940,000
COMMERCIAL (GENERAL)
Est. value
$995,000
RETAIL STORES
Est. value
$970,000
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
0.54 ac
Current owner
From public records · entity-resolved
Garth Michael Knapp
Individual
Free & Clear · 2 yrs held
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 10, 2024
—
Garth Michael Knapp
Knapp Industries LLC
Quit Claim Deed
related
—
Apr 17, 2012
—
Knapp Industries LLC
Knapp,garth
Quit Claim Deed
related
—
Apr 28, 2011
—
Dwan W Bowen
Stuwe,bruce
Quit Claim Deed
related
—
Apr 28, 2011
$960,000
Garth Knapp
Bowen,dwan W
Warranty Deed
$560,000 · Bhp Ents
—
—
Dwan W Bowen
—
Deed Of Trust
related
$200,000 · Centennial 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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