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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Grocery and convenience stores
611 Lilly SE Rd, Olympia, WA 98501-2112
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-0848278
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1998
Construction
WOOD FRAME
Total area
3,227 SF
Lot
0.51 ac (22,216 SF)
Zoning code
GC
APN
4170-15-00000
UPID
US90-0848278
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
-
Dairy Queen Grill & Chill Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$415k
CAP Approach
CAP
$600k
Comparable Approach
Comparable
$560k
Blend (final)
Blend
$525k
Owner & transaction history
Blizzard LLC · 7 yrs held
Blizzard LLC
since 2019
6 recorded transactions
Zoning & alternative use
GC · Olympia, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$815,000
+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
$415,000
CAP Approach
CAP Return
Estimation
6%
$650,000
6.5%
$600,000
7%
$555,000
Alternative Use
Use
Estimation
RETAIL STORES
$800,000
Current use
COMMERCIAL (GENERAL)
$815,000
Change: +2% · Conversion: Easy
OFFICE BUILDING
$770,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$163 / 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
$22,817
Tax year 2023
Assessed value
$2,319,600
Assessed 2022
Previous assessed
$1,602,500
+44.7% YoY
Effective rate
0.98%
On assessed value
Assessed land
$448,900
Assessed improvement
$1,870,700
Land market value
$448,900
Improvement market value
$1,870,700
Total market value
$2,319,600
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1998
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
3,227 SF
Lot
0.51 ac (22,216 SF)
Zoning code
GC
APN
4170-15-00000
UPID
US90-0848278
Jurisdiction
THURSTON
Zoning & alternative use
GC · Olympia, WA
Zoning GC · permitted uses
GC · Olympia, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Olympia. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$800,000
COMMERCIAL (GENERAL)
Est. value
$815,000
OFFICE BUILDING
Est. value
$770,000
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
1998
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
Blizzard LLC
Entity
Mailing address
1616 34TH CT W, SEATTLE, WA 98199-3906
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2019
$1,665,000
Blizzard LLC
Rhino Holdings Olympia LLC
Warranty Deed
—
Jan 2, 2019
—
Rhino Holdings Olymipa LLC
—
Deed
related
$1,180,000 · Ignite Funding
Jan 22, 2016
$18,500,000
3430 Pacific Avenue Holdings L
Petiprin Benjamin D|pk I Olympia Square LLC
Trustees Deed
related
—
Nov 20, 2006
$39,568,181
Pk 1 Olympia Square LLC
Pan Pacific Development Olympia Squ
Special Warranty Deed
$25,400,000 · Jpmorgan Chase Bank NA
Dec 23, 1996
—
Pan Pacific Development INC
—
Deed Of Trust
related
$54,200,000 · Cibc INC
Oct 3, 1990
$47,570
Pan Pacific Development INC
Unknown
Grant Deed
—
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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