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Property profile & analytics
OFF-MARKET
Estimated value
$9,060,000
Office buildings
621 Woodland Sq SE Loop, Olympia, WA 98503-1036
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-0382336
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2018
Construction
STEEL FRAME
Total area
44,171 SF
Lot
1.29 ac (56,192 SF)
APN
8499-00-01600
UPID
US90-0382336
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
-
Washington Utilities And Transportation Commission State Government Office
-
Energy Facility Site Evaluation Council Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.44M
Comparable Approach
Comparable
$10.59M
Blend (final)
Blend
$9.06M
Owner & transaction history
Dm Ventures Woodland LLC · 3 yrs held
Dm Ventures Woodland LLC
since 2022
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$11.2M
+24.9%
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%
$10,230,000
6.5%
$9,440,000
7%
$8,765,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,940,000
Current use
COMMERCIAL (GENERAL)
$11,170,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$9.06M
Range $8.15M – $9.97M · ±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
$205 / 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
$133,405
Tax year 2023
Assessed value
$14,044,500
Assessed 2022
Previous assessed
$8,018,300
+75.2% YoY
Effective rate
0.95%
On assessed value
Assessed land
$820,300
Assessed improvement
$13,224,200
Land market value
$820,300
Improvement market value
$13,224,200
Total market value
$14,044,500
Applied tax rate
241.0000
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
2018
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
3
Total area
44,171 SF
Lot
1.29 ac (56,192 SF)
APN
8499-00-01600
UPID
US90-0382336
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
$8.9M
COMMERCIAL (GENERAL)
Est. value
$11.2M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
2018
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
3
Lot
1.29 ac
Current owner
From public records · entity-resolved
Dm Ventures Woodland LLC
Entity
Free & Clear · 3 yrs held
Mailing address
6725 116TH AVE NE STE #100, KIRKLAND, WA 98033-8455
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2022
—
Dm Ventures Woodland LLC
State Of Washington
Sub Lease
related
—
Oct 11, 2018
—
Dm Ventures Woodland LLC
—
Grant Deed
related
$1,500,000 · Columbia St Bk
Aug 14, 2013
$6,600,000
Dm Ventures Woodland LLC
Mlmt 2004-bpci Pruim Portfolio
Grant Deed
—
Jun 13, 2012
$8,900,000
Mlmt 2004-bpc1 Prium Portfolio
Regional Trustee Services
Trustees Deed
related
—
Sep 15, 2010
—
Cdc Properties II LLC
—
Deed Of Trust
related
$33,892,500 · Merrill Lynch Mortgage Lending
Jan 13, 2005
—
Cdc Properties II LLC
Capital Dev
Grant Deed
related
—
Oct 1, 2004
$36,407,616
Cdc Properties II LLC
Capital Dev
Grant Deed
$33,892,500 · Merrill Lynch Mortgage Lending
Sep 23, 2004
—
Capital Dev Co
Rainier General INC
Quit Claim 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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