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Property profile & analytics
OFF-MARKET
Estimated value
$1,700,000
Warehouses
8965 Select SE Ct, Tumwater, WA 98501-5740
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1703311
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2022
Total area
18,000 SF
Lot
2.06 ac (89,734 SF)
APN
8063-00-00300
UPID
US90-1703311
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.74M
Blend (final)
Blend
$1.70M
Owner & transaction history
Lot 3 Tumwater Commerce LLC · 7 yrs held
Lot 3 Tumwater Commerce LLC
since 2019
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.6M
+58.2%
Industrial (general)
$2.3M
+43.1%
Office building
$1.8M
+12.4%
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 Tumwater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tumwater 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,625,000
Current use
RESTAURANT
$2,570,000
Change: +58% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,325,000
Change: +43% · Conversion: Easy
OFFICE BUILDING
$1,825,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$1,775,000
Change: +9% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,605,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$1.70M
Range $1.53M – $1.87M · ±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
$94 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$34,680
Tax year 2024
Assessed value
$3,470,100
Assessed 2023
Previous assessed
$3,737,900
-7.2% YoY
Effective rate
1.00%
On assessed value
Assessed land
$937,300
Assessed improvement
$2,532,800
Land market value
$937,300
Improvement market value
$2,532,800
Total market value
$3,470,100
Applied tax rate
440.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2022
Heating
YES
Cooling
YES
Stories
1
Total area
18,000 SF
Lot
2.06 ac (89,734 SF)
APN
8063-00-00300
UPID
US90-1703311
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
WAREHOUSE, STORAGE Current
Est. value
$1.6M
RESTAURANT
Est. value
$2.6M
INDUSTRIAL (GENERAL)
Est. value
$2.3M
OFFICE BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
WAREHOUSE, STORAGE Current
RESTAURANT
INDUSTRIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
2022
Heating
YES
Cooling
Yes
Stories
1
Lot
2.06 ac
Current owner
From public records · entity-resolved
Lot 3 Tumwater Commerce LLC
Entity
Free & Clear · 7 yrs held
Mailing address
2223 MAYES RD SE, OLYMPIA, WA 98503-3413
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 7, 2019
$565,100
Lot 3 Tumwater Commerce LLC
Kaufman Real Estate LLC
Grant Deed
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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