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

    8965 Select SE Ct Tumwater, WA 98501-5740

    • Warehouses
    • 18,000 SF
    • 2.06 lot acres
    OFF-MARKET
    Value Estimations
    $1,700,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1703311
    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

    • Warehouses

    Property Details for 8965 Select SE Ct

    Year built
    2022
    Lot size
    2.06 lot acres
    Property size
    18,000 SF
    Property type
    Warehouses
    APN
    8063-00-00300
    APU
    80630000300

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,738,000
      Market price range: $543k - $2.91M

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Tumwater
    County
    Thurston
    State
    Washington
    Longitude
    -122.891
    Latitude
    46.9577
    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
    $34,680
    $937,300
    $2,532,800
    $3,470,100
    -
    $937,300
    $2,532,800
    $3,470,100

    Comparable in this City

    • Value Estimation
      $535,000
      3,420 SF

      1022 85th SE Ave

      WAREHOUSE, STORAGE • 3,420 SF
      1022 85th SE Ave, Tumwater, WA 98501-5707
      View Details
    • Value Estimation by Request
      7,890 SF

      310 Olympia NE Ave

      WAREHOUSE, STORAGE • 7,890 SF
      310 Olympia NE Ave, Olympia, WA 98501-1128
      View Details
    • Value Estimation by Request
      1,160 SF

      406 Water SW St

      WAREHOUSE, STORAGE • 1,160 SF
      406 Water SW St, Olympia, WA 98501-1047
      View Details
    • Value Estimation by Request
      4,800 SF

      1140 79th SE Ave

      WAREHOUSE, STORAGE • 4,800 SF
      1140 79th SE Ave, Tumwater, WA 98501-6849
      View Details
    • Value Estimation
      $2,150,000
      24,852 SF

      7725 Ctr SW St

      WAREHOUSE, STORAGE • 24,852 SF
      7725 Ctr SW St, Tumwater, WA 98501-7205
      View Details
    • Value Estimation by Request
      2,302 SF

      819 78th SW Ave

      WAREHOUSE, STORAGE • 2,302 SF
      819 78th SW Ave, Tumwater, WA 98501-7258
      View Details

    Similar Nearby for Sale

    • $6,300,000
      52,570 SF

      Center Street Warehouse Investment

      Tumwater, WA Warehouse - Net Lease
      7960 Center St, Tumwater, WA 98501
      View Details
    • $6,300,000

      Tumwater Warehouse with Mezzanine

      Steel-framed warehouse with mezzanine, retail environment, and ample parking.
      7960 Center St SW, Tumwater, WA 98501
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    • $6,150,000
      32,482 SF

      Retail and Industrial Opportunity

      Family-owned retail and industrial property with high-traffic location.
      3729 Pacific Ave SE, Olympia, WA 98501
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    • $995,000
      6,502 SF

      Spoon Building: Olympia Gem

      Downtown Olympia mixed-use space.
      118 Cherry St, Olympia, WA 98501
      View Details
    • $2,200,000
      1.79 Acres

      Tumwater Valley Lodge: Riverfront Gem

      Iconic lodge, 5 suites, river views, huge potential.
      4315 Tumwater Valley Dr, Tumwater, WA 98501
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    • $550,000

      Prime Corner Lot Redevelopment Opportunity

      Corner lot in Tumwater's Brewery District, ideal for redevelopment.
      3507 Capitol Blvd SW, Tumwater, WA 98501
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    Similar Nearby for Lease

    • $1.40 SF/Yr
      1,875 SF

      Tumwater Warehouse with Shared Dock

      Industrial warehouse space featuring a shared loading dock.
      8024 River Dr SE, Tumwater, WA 98501
      View Details
    • $1,320,000
      8,800 SF

      Tumwater Industrial Building with Crane

      8800 SF industrial building with office space and crane.
      819 78Th Ave Southwest, Tumwater, WA 98501
      View Details
    • $1.35 SF/Yr
      3,650 SF

      Mixed-Use Flex Space Available

      End-cap suite suitable for retail, office, and warehouse uses.
      8913 Select Ct SE, Tumwater, WA 98501
      View Details
    • $3,800 /Mo
      4,000 SF

      Downtown Warehouse Former CrossFit Space

      4000 SF warehouse with two restrooms and roll-up door.
      503-511 Cherry St SE, Olympia, WA 98501
      View Details
    • Contact for pricing
      36,000 SF

      New Warehouse in Tumwater Commerce Place

      36,000 SF warehouse with dock and grade-level doors.
      8991 Select Ct SE, Tumwater, WA 98501
      View Details
    • $1.00 SF/Yr
      2,300 SF

      Industrial Space For Lease

      6502 SF industrial space available for lease.
      118 Cherry St NE, Olympia, WA 98501
      View Details
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    8965 Select SE Ct
    Tumwater, WA 98501-5740
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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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