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Property profile & analytics
OFF-MARKET
Estimated value
$1,520,000
Grocery and convenience stores
533 Custer SE Way, Tumwater, WA 98501-3352
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0588313
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1985
Construction
WOOD FRAME
Total area
4,800 SF
Lot
0.41 ac (17,860 SF)
APN
8490-01-00400
UPID
US90-0588313
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
$1.48M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.79M
Blend (final)
Blend
$1.52M
Owner & transaction history
Tumwater Convenience Property LLC · 1 yrs held
Tumwater Convenience Property LLC
since 2025
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+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 Tumwater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tumwater 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
$1,505,000
ML approach
$1,480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,185,000
Current use
COMMERCIAL (GENERAL)
$1,215,000
Change: +2% · Conversion: Easy
OFFICE BUILDING
$1,145,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$1.52M
Range $1.37M – $1.67M · ±10% · vs last sale $1.55M (Feb 25 2025)
Last sale anchor
$1.55M
Feb 25 2025
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
$317 / 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
$14,130
Tax year 2023
Assessed value
$1,449,900
Assessed 2022
Previous assessed
$945,700
+53.3% YoY
Effective rate
0.97%
On assessed value
Assessed land
$323,900
Assessed improvement
$1,126,000
Land market value
$323,900
Improvement market value
$1,126,000
Total market value
$1,449,900
Applied tax rate
440.0000
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
1985
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
1
Bathrooms
1
Total area
4,800 SF
Lot
0.41 ac (17,860 SF)
APN
8490-01-00400
UPID
US90-0588313
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
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
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
1985
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
Tumwater Convenience Property LLC
Entity
Mailing address
9174 VIOLA ST SE, TUMWATER, WA 98501-4971
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 25, 2025
—
Tumwater Convenience Property LLC
Tumwater Convenience LLC
Deed
related
$900,000 · O Bee Cu
Mar 15, 2024
$1,550,000
Tumwater Convenience LLC
Thai Binh LLC
Warranty Deed
—
Jun 12, 2020
$1,350,000
Binh LLC
515 Custer Way LLC
Warranty Deed
—
Jun 12, 2020
—
Don Maltase
Patti Maltase
Quit Claim Deed
related
$1,012,500 · Kitsap Bk
Feb 12, 2016
—
515 Custer Way LLC
Maltase,don
Quit Claim Deed
related
—
Dec 23, 2014
—
Don Maltase
Rentals At Tumwater LLC
Grant Deed
related
—
Oct 17, 2014
$1,300,000
Don Maltase
Rentals At Tumwater LLC
Grant Deed
—
Mar 7, 2013
—
Rentals At Tumwater LLC
6820 San Houston LLC
Quit Claim Deed
related
—
Feb 21, 2013
$1,360,000
6820 Sam Houston LLC
Maj Tumwater 515 LLC
Warranty Deed
—
Nov 15, 2011
$790,000
Maj Tumwater 515 LLC
Nej INC
Grant Deed
$800,000 · First Republic Bank
Jan 24, 2008
$800,000
N E J INC
Cecilia A Hale
Bargain And Sale Deed
$81,400 · Midwest Business Capital
—
—
Thai Binh LLC
—
Deed Of Trust
related
$67,500 · 515 Custer Way LLC
—
—
Thai Binh LLC
—
Deed Of Trust
related
$1,012,500 · Kitsap Bk
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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