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    8034 Fairview Rd Olympia, WA 98512
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    8034 Fairview Rd Olympia, WA 98512

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    • Commercial real estate
    • 7.62 lot acres
    Off-Market
    Property ID
    US90-1745755
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 8034 Fairview Rd

    Lot size
    7.62 lot acres
    Property type
    Commercial real estate
    APN
    12708230200

    Description

    This exceptional 7.62-acre property in Olympia, Washington, presents a unique opportunity. Located at 8034 Fairview Rd SW, 98512, this Thurston County land boasts a sizable 331,927 square-foot lot, mostly level, and features a creek running through it. Zoned SFL, the property is ideal for recreational uses such as weekend camping and RV parking/storage. Due to its shape, floodplain, and wetland areas (with completed reconnaissance), it may not be suitable for residential construction. Utilities including power, water, and gas are indicated as available, though located at a distance from the property at the main road. A septic system would be required for sewer. The property is conveniently located within a 10-15 minute drive of shopping, dining, and entertainment in Tumwater and Olympia, with abundant outdoor recreational opportunities nearby. The property is being sold AS-IS. The APN is 12708230200. This is a fantastic opportunity to acquire a large parcel of land in a desirable location at a reduced price of $29,900.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.96876
    Latitude
    46.9743039

    Comparable in this City

    • $409,900
      0.17 Acres

      Tumwater Duplex with City Views

      Well-maintained duplex on a large lot with development potential.
      522 H St SW, Tumwater, WA 98512
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      77,101 SF

      Land Parcel in Retail Core

      Land with approved use for self-storage in Tumwater.
      6115-6119 Littlerock Rd SW, Tumwater, WA 98512
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      Prime Commercial Land For Sale

      1.4-acre parcel with direct freeway access in growing area.
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      Secluded Land with Off-Grid Cabin

      Nearly 5-acre vacant land with cabin, ponds, and streams.
      7836 Delphi Rd SW, Olympia, WA 98512
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      Residential Lot in Scott Lake

      Level lot with community amenities in Scott Lake Community.
      12122 Scott Creek Loop, Olympia, WA 98512
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      Two Flat Lots Near I-5

      Two commercial lots totaling 1.9 acres in developing Tumwater area.
      7340 Prine Dr SW, Olympia, WA 98512
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    Similar Nearby for Sale

    • $409,900
      0.17 Acres

      Tumwater Duplex with City Views

      Well-maintained duplex on a large lot with development potential.
      522 H St SW, Tumwater, WA 98512
      View Details
    • Contact for pricing
      77,101 SF

      Land Parcel in Retail Core

      Land with approved use for self-storage in Tumwater.
      6115-6119 Littlerock Rd SW, Tumwater, WA 98512
      View Details
    • Contact for pricing

      Prime Commercial Land For Sale

      1.4-acre parcel with direct freeway access in growing area.
      2411 Tumwater Blvd SW, Tumwater, WA 98512
      View Details
    • Contact for pricing

      Secluded Land with Off-Grid Cabin

      Nearly 5-acre vacant land with cabin, ponds, and streams.
      7836 Delphi Rd SW, Olympia, WA 98512
      View Details
    • Contact for pricing

      Residential Lot in Scott Lake

      Level lot with community amenities in Scott Lake Community.
      12122 Scott Creek Loop, Olympia, WA 98512
      View Details
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      Two Flat Lots Near I-5

      Two commercial lots totaling 1.9 acres in developing Tumwater area.
      7340 Prine Dr SW, Olympia, WA 98512
      View Details

    Similar Nearby for Lease

    • $3,049 /Mo
      304,920 SF

      Heavy Industrial Land For Lease

      7 acres of heavy industrial land with convenient highway access.
      2840 Black Lake Blvd SW, Tumwater, WA 98512
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    • $3,500 /Mo

      Heavy Industrial Land For Lease

      7 acres of heavy industrial land with convenient highway access.
      2840 Black Lake Blvd SW, Tumwater, WA 98512
      View Details
    • $11,988 /Mo
      3,600 SF

      Commercial Land For Lease

      Commercial land available for lease, build to suit.
      1401 Kingswood Dr SW, Tumwater, WA 98512
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    • $11,988 /Mo
      3,600 SF

      Commercial Land For Lease

      Commercial land available for lease, build to suit options.
      1401 Kingswood Dr SW, Tumwater, WA 98512
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      Office Building Near Interstate 5

      Office building with flexible layout and convenient highway access.
      1760 Barnes Blvd SW, Tumwater, WA 98512
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    • $2,380 /Mo
      2,800 SF

      Updated Warehouse Space Near I-5

      Versatile warehouse space in Tumwater with convenient I-5 access.
      5017 Joppa St SW, Tumwater, WA 98512
      View Details
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    8034 Fairview Rd
    Olympia, WA 98512
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    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
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