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Property profile & analytics
OFF-MARKET
Estimated value
$4,365,000
Grocery and convenience stores
600 Franklin SE St, Olympia, WA 98501-1360
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US90-0989129
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1951
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
26,560 SF
Lot
0.39 ac (16,988 SF)
APN
7850-36-00100
UPID
US90-0989129
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
-
Commencement Bank Bank Loan Service
-
Franklin Street Apartments Apartment Complex
-
Three Magnets Brewing Co. Production Facility Brewery & Distillery
-
O.G.'s Smokehouse BBQ, Inc. Restaurant
-
Akashic Food Trailer Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.93M
Comparable Approach
Comparable
$3.41M
Blend (final)
Blend
$4.37M
Owner & transaction history
Urban Olympia 3 LLC · 12 yrs held
Urban Olympia 3 LLC
since 2013
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.7M
+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%
$5,345,000
6.5%
$4,930,000
7%
$4,580,000
Alternative Use
Use
Estimation
RETAIL STORES
$6,565,000
Current use
COMMERCIAL (GENERAL)
$6,715,000
Change: +2% · Conversion: Easy
OFFICE BUILDING
$6,350,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$4.37M
Range $3.93M – $4.80M · ±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
$164 / 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
$51,986
Tax year 2023
Assessed value
$6,919,300
Assessed 2022
Previous assessed
$4,437,200
+55.9% YoY
Effective rate
0.75%
On assessed value
Assessed land
$486,200
Assessed improvement
$6,433,100
Land market value
$486,200
Improvement market value
$6,433,100
Total market value
$6,919,300
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
1951
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Bathrooms
2
Total area
26,560 SF
Lot
0.39 ac (16,988 SF)
APN
7850-36-00100
UPID
US90-0989129
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
$6.6M
COMMERCIAL (GENERAL)
Est. value
$6.7M
OFFICE BUILDING
Est. value
$6.4M
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
1951
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
2
Lot
0.39 ac
Current owner
From public records · entity-resolved
Urban Olympia 3 LLC
Entity
Mailing address
PO BOX 7534, OLYMPIA, WA 98507-7534
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2013
$2,600,000
Urban Olympia 3 LLC
State Of Wa Department/ent Servic
Quit Claim Deed
related
$3,870,000 · Thurston First Bank
May 2, 1994
—
State Of Washington
John S Bakerr Investment Co
Grant Deed
related
—
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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