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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    825 Capitol S Way Olympia, WA 98501-1226

    • Banks
    • 7,938 SF
    • 0.66 lot acres
    OFF-MARKET
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1390730
    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

    • Chase Mortgage / Mortgage Lender
    • Chase Bank / Bank / Atm
    • Mark Sherman - Chase Home Lending Advisor - NMLS ID 693929 / Mortgage Lender
    • Chase ATM / Atm

    Property Details for 825 Capitol S Way

    Year built
    1968
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.66 lot acres
    Property size
    7,938 SF
    Property type
    Banks
    APN
    7850-09-00000
    APU
    78500900000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $500,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $659,000
      Market price range: $331k - $1.90M

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $680,000
      Current use
      OFFICE BUILDING
      $805,000
      Change: +19% Conversion: Difficult
      RETAIL STORES
      $785,000
      Change: +15% Conversion: Difficult
      WAREHOUSE, STORAGE
      $715,000
      Change: +6% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $710,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.902
    Latitude
    47.0409
    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
    2024
    $20,081
    $752,200
    $1,170,200
    $1,922,400
    -
    $752,200
    $1,170,200
    $1,922,400

    Comparable in this City

    • Value Estimation
      $895,000
      16,218 SF

      402 Capitol S Way

      FINANCIAL BUILDING • 16,218 SF
      402 Capitol S Way, Olympia, WA 98501-1096
      View Details
    • Value Estimation by Request
      7,232 SF

      403 Capitol S Way

      FINANCIAL BUILDING • 7,232 SF
      403 Capitol S Way, Olympia, WA 98501-1028
      View Details
    • Value Estimation by Request
      4,412 SF

      303 Un SE Ave

      FINANCIAL BUILDING • 4,412 SF
      303 Un SE Ave, Olympia, WA 98501-1323
      View Details
    • Value Estimation by Request
      5,798 SF

      1020 5th SE Ave

      FINANCIAL BUILDING • 5,798 SF
      1020 5th SE Ave, Olympia, WA 98501-1506
      View Details
    • Value Estimation
      $1,975,000
      0.09 Acres

      221 5th SE Ave

      FINANCIAL BUILDING • 0.09 Acres
      221 5th SE Ave, Olympia, WA 98501
      View Details
    • Value Estimation
      $5,255,000
      26,736 SF

      201 5th SW Ave

      FINANCIAL BUILDING • 26,736 SF
      201 5th SW Ave, Olympia, WA 98501-1063
      View Details

    Similar Nearby for Sale

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      Downtown Olympia Retail/Office Building

      Well-maintained 7,680 SF retail/office building in downtown Olympia.
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      Spoon Building: Olympia Gem

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      Multi-Tenant Retail Building For Sale

      Retail building with high visibility in a high traffic area.
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    • $4,250,000
      0.78 Acres

      Cleveland Plaza: Tumwater Investment

      Mixed-use storefront, 7.36% cap rate.
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    • $6,150,000
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      Family-owned retail and industrial property with high-traffic location.
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      18,000 SF building with 130+ parking stalls for sale.
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    Similar Nearby for Lease

    • $37 SF/Yr
      1,981 SF

      Retail Space Near Popular Restaurant

      Retail space with great views and high foot traffic.
      120 Water St NW, Olympia, WA 98501
      View Details
    • $17 SF/Yr
      2,200 SF

      Retail Space with Freeway Visibility

      Retail space with storefront windows, office, and on-site parking.
      5102-5115 Capitol Blvd, Tumwater, WA 98501
      View Details
    • $24 SF/Yr
      1,550 SF

      Downtown Olympia Retail Space Available

      Retail spaces available in downtown Olympia with high visibility.
      510 State Ave NE, Olympia, WA 98501
      View Details
    • $17 SF/Yr
      6,000 SF

      Retail Building in Southgate Center

      Stand-alone retail building with high traffic location near I-5.
      5201 Capitol Blvd SE, Tumwater, WA 98501
      View Details
    • $43 SF/Yr
      5,073 SF

      Retail Space in Craft District

      New retail space available Spring 2026 in Tumwater's Craft District.
      4120 Capitol Blvd SE, Tumwater, WA 98501
      View Details
    • $20 SF/Yr
      2,132 SF

      Tumwater Flex/Retail Endcap Unit

      Flex/Retail space with grade level garage door and high visibility.
      6528 Capitol Blvd SE, Tumwater, WA 98501
      View Details
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    825 Capitol S Way
    Olympia, WA 98501-1226
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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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