Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    724 Quince SE St Olympia, WA 98501

    • Office buildings
    • 56,895 SF
    • 1.74 lot acres
    OFF-MARKET
    Value Estimations
    $11,670,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0806637
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • CV2 Olympia / State Government Office

    Property Details for 724 Quince SE St

    Year built
    1990
    Construction
    STEEL FRAME
    Lot size
    1.74 lot acres
    Property size
    56,895 SF
    Property type
    Office buildings
    APN
    7820-47-00600
    APU
    78204700600

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $13,175,000
      6.5%
      $12,160,000
      7%
      $11,290,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $16,039,000
      Market price range: $8.45M - $22.2M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $13,600,000
      Current use
      COMMERCIAL (GENERAL)
      $14,390,000
      Change: +6% Conversion: Easy
      RETAIL STORES
      $14,060,000
      Change: +3% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.889
    Latitude
    47.0431
    CBSA code
    36500
    CBSA name
    OLYMPIA, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $135,207
    $816,000
    $12,761,100
    $13,577,100
    -
    $816,000
    $12,761,100
    $13,577,100

    Comparable in this City

    • Value Estimation by Request
      0.21 Acres

      3715 Griffin SE Ln

      PROFESSIONAL BUILDING • 0.21 Acres
      3715 Griffin SE Ln, Olympia, WA 98501
      View Details
    • Value Estimation by Request
      0.27 Acres

      3731 Griffin SE Ln

      PROFESSIONAL BUILDING • 0.27 Acres
      3731 Griffin SE Ln, Olympia, WA 98501
      View Details
    • Value Estimation by Request
      0.39 Acres

      3747 Griffin SE Ln

      PROFESSIONAL BUILDING • 0.39 Acres
      3747 Griffin SE Ln, Olympia, WA 98501
      View Details
    • Value Estimation by Request
      0.26 Acres

      3745 Griffin SE Ln

      PROFESSIONAL BUILDING • 0.26 Acres
      3745 Griffin SE Ln, Olympia, WA 98501
      View Details
    • Value Estimation
      $2,875,000
      18,237 SF

      1414 Cherry SE St

      PROFESSIONAL BUILDING • 18,237 SF
      1414 Cherry SE St, Olympia, WA 98501-2341
      View Details
    • Value Estimation
      $2,375,000
      13,075 SF

      606 Columbia St Nwb-2

      PROFESSIONAL BUILDING • 13,075 SF
      606 Columbia St Nwb-2, Olympia, WA 98501-1085
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      99,736 SF

      Class A Office Space Available

      99,736 SF Class A office space for rent.
      6500 Linderson Way SW, Tumwater, WA 98501
      View Details
    • Contact for pricing
      83,377 SF

      Class A Commercial Building

      83,377 SF Class A office space for lease.
      6400 Linderson Way SW, Tumwater, WA 98501
      View Details
    • $999,000

      Well-Maintained Office Building For Sale

      Corner lot office building with parking garage and storage.
      234 8Th Ave SE, Olympia, WA 98501
      View Details
    • Contact for pricing

      Olympia Class A Commercial Building

      51,600 SF Class A building in a thriving business corridor.
      6300 Linderson Way SW, Tumwater, WA 98501
      View Details
    • Contact for pricing
      2,287 SF

      Olympia Office Redevelopment Opportunity

      2,278 SF office building on .16-acre parcel for sale.
      416 State Ave NE, Olympia, WA 98501
      View Details
    • $1,900,000

      Downtown Olympia Office Building

      Two-story office building in downtown Olympia with on-site parking.
      510 Plum St SE, Olympia, WA 98501
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      23,715 SF

      Jefferson Street Office Building ForRent

      Well-maintained office building near Washington State Capital Campus.
      1310 Jefferson St SE, Olympia, WA 98501
      View Details
    • $15 SF/Yr
      3,096 SF

      Move-in Ready Stand-Alone Office Building

      Stand-alone office building with on-site parking and convenient location.
      3711 Griffin Ln SE, Olympia, WA 98501
      View Details
    • Contact for pricing
      6,256 SF

      High-Visibility Building in Commercial District

      High-traffic location with drive-thru and ample parking.
      556 Lilly Rd SE, Olympia, WA 98501
      View Details
    • Contact for pricing
      25,750 SF

      Olympia Office Space For Lease

      Office building near the State Capitol with available suites.
      128 10Th Ave SW, Olympia, WA 98501
      View Details
    • Contact for pricing
      28,288 SF

      Downtown Olympia Office Space Available

      28,288 SF office space for lease in Olympia.
      1206-1112 Quince St SE, Olympia, WA 98501
      View Details
    • Sponsored
      New
      Contact for pricing

      Union 400

      Discover many ways to work your way in Union 400
      400 Union Ave, Olympia, WA 98501
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    724 Quince SE St
    Olympia, WA 98501
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!