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Property profile & analytics
OFF-MARKET
Estimated value
$1,870,000
Hotels
621 Capitol S Way Olympia, WA 98501-1205
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-1095932
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1971
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
101,305 SF
Lot
0.8 ac (34,848 SF)
APN
7850-07-00500
UPID
US90-1095932
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
-
Hotel Hotel & Motel
-
Red Lion Inn & Suites Olympia, Governor Hotel Hotel & Motel
-
Sam Senn & Associates Business Management Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.22M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.52M
Blend (final)
Blend
$1.87M
Owner & transaction history
Olympia Hospitality LLC · 7 yrs held
Olympia Hospitality LLC
since 2019
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 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
$1,215,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.87M
Range $1.68M – $2.06M · ±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
$18 / 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
$106,966
Tax year 2023
Assessed value
$10,741,000
Assessed 2022
Previous assessed
$10,159,800
+5.7% YoY
Effective rate
1.00%
On assessed value
Assessed land
$1,327,600
Assessed improvement
$9,413,400
Land market value
$1,327,600
Improvement market value
$9,413,400
Total market value
$10,741,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1971
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
9
Total area
101,305 SF
Lot
0.8 ac (34,848 SF)
APN
7850-07-00500
UPID
US90-1095932
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
1971
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
9
Lot
0.8 ac
Current owner
From public records · entity-resolved
Olympia Hospitality LLC
Entity
Mailing address
621 CAPITOL WAY S, OLYMPIA, WA 98501-1205
Mailing matches property
Yes
Owner-occupied
Yes
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 4, 2025
—
Olympia Hospitality LLC
—
Deed
related
$17,250,000 · Banner Bank
Nov 24, 2025
—
Olympia Hospitality LLC
—
Deed
related
$17,250,000 · Banner Bank
Jan 31, 2019
$9,450,000
Olympia Hospitality LLC
Rusco USA LLC
Warranty Deed
$7,097,000 · First Interstate Bank
Sep 20, 2018
—
Rusco USA LLC I
—
Deed
related
$213,000 · Coastal Community Bank
Aug 31, 2017
—
Rusco USA LLC
—
Deed
related
$5,600,000 · Mountain Pacific Bank
Sep 18, 2013
$2,299,900
Rusco USA LLC
Governor House Hotel LLC
Warranty Deed
$2,020,000 · Unibank
Nov 23, 1999
$5,781,433
Governor House Hotel LLC
Governor House Associates LP
Grant Deed
related
—
Jul 2, 1990
$3,945,500
Governor House Associates
Unknown
Grant Deed
—
—
—
Rusco USA LLC
—
Deed Of Trust
related
$300,000 · Elling Investment LLC
—
—
Governor House Associates LP
—
Deed Of Trust
related
$3,470,000 · Merrill Lynch Credit Corp
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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