Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Office buildings
7046 Pacific SE Ave Olympia, WA 98503-1474
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-1247748
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1935
Construction
WOOD FRAME
Total area
3,360 SF
Lot
3.55 ac (154,638 SF)
APN
4820-51-00100
UPID
US90-1247748
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
-
L&Q spa Alternative Medicine Practice Spa & Massage Center
-
Tillamook Country Smoker (Bike/Boat/Book/etc) Store
-
Dr. Jeanine Nordeen Dental Office
-
James Myers Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$345k
CAP Approach
CAP
$720k
Comparable Approach
Comparable
$717k
Blend (final)
Blend
$565k
Owner & transaction history
Faith Properties LLC · 7 yrs held
Faith Properties LLC
since 2019
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$850,000
+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
$345,000
CAP Approach
CAP Return
Estimation
6%
$780,000
6.5%
$720,000
7%
$665,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$680,000
Current use
COMMERCIAL (GENERAL)
$850,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
$168 / 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
$9,887
Tax year 2023
Assessed value
$950,900
Assessed 2022
Previous assessed
$917,200
+3.7% YoY
Effective rate
1.04%
On assessed value
Assessed land
$536,400
Assessed improvement
$414,500
Land market value
$536,400
Improvement market value
$414,500
Total market value
$950,900
Applied tax rate
239.0000
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
1935
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
2
Total area
3,360 SF
Lot
3.55 ac (154,638 SF)
APN
4820-51-00100
UPID
US90-1247748
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
$680,000
COMMERCIAL (GENERAL)
Est. value
$850,000
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
1935
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
2
Lot
3.55 ac
Current owner
From public records · entity-resolved
Faith Properties LLC
Entity
Mailing address
7046 PACIFIC AVE SE, OLYMPIA, WA 98503-1474
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 10, 2019
$875,000
Faith Properties LLC
Myers,james H & Elizabeth A
Warranty Deed
$475,000 · James H & Elizabeth A Myers
—
—
James H Myers
—
Deed Of Trust
related
$151,933 · Venture Bank
—
—
James H Myers
—
Deed Of Trust
related
$195,000 · First Community Bank Washingto
—
—
James H Myers
—
Deed Of Trust
related
$90,000 · First Community Bank Washingto
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 7046 Pacific SE Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
