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

    9161 Orion NE Dr Olympia, WA 98516

    • Warehouses
    • 123,396 SF
    • 14.65 lot acres
    OFF-MARKET
    Value Estimations
    $19,335,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1513051
    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 9161 Orion NE Dr

    Year built
    2020
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    14.65 lot acres
    Property size
    123,396 SF
    Property type
    Warehouses
    APN
    1180-14-00200
    APU
    11801400200

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $20,240,000
      6.5%
      $18,685,000
      7%
      $17,350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $19,981,000
      Market price range: $3.72M - $20.0M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $20,645,000
      RESTAURANT
      $17,635,000
      RETAIL STORES
      $16,455,000
      INDUSTRIAL (GENERAL)
      $13,375,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Olympia
    County
    Thurston
    State
    Washington
    Longitude
    -122.746
    Latitude
    47.0743
    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
    $392,903
    $3,164,000
    $38,011,700
    $41,175,700
    -
    $3,164,000
    $38,011,700
    $41,175,700

    Comparable in this City

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      $500,000
      11,340 SF

      8450 30th NE Ave

      WAREHOUSE, STORAGE • 11,340 SF
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    • Value Estimation by Request

      3308 Hogum Bay Rd

      Distribution properties
      3308 Hogum Bay Rd, Lacey, WA 98516
      View Details
    • Value Estimation
      $1,275,000
      10,920 SF

      2910 Hogum Bay NE Rd

      INDUSTRIAL (GENERAL) • 10,920 SF
      2910 Hogum Bay NE Rd, Lacey, WA 98516-3133
      View Details
    • Value Estimation
      $1,445,000
      12,576 SF

      8270 28th NE Ct

      CONSTRUCTION/CONTRACTING SERVICES • 12,576 SF
      8270 28th NE Ct, Lacey, WA 98516-7148
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    • Value Estimation by Request
      3,864 SF

      1451 Sandy NE Ln

      INDUSTRIAL (GENERAL) • 3,864 SF
      1451 Sandy NE Ln, Lacey, WA 98516-1321
      View Details
    • Value Estimation
      $2,535,000
      20,159 SF

      2400 Callison NE Rd

      INDUSTRIAL (GENERAL) • 20,159 SF
      2400 Callison NE Rd, Lacey, WA 98516-3154
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Tavern with Warehouse and Development

      Turn-key tavern, warehouse, and development opportunity.
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      Flex space with ample office and huge fenced yard.
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      18,300 SF

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      Land For Sale Lacey, WA

      Land available for sale in Lacey, Washington.
      180 Hoh St SE, Lacey, WA 98516
      View Details
    • $800,000
      41,398 SF

      Land Zoned Mixed-Use High-Density

      Land offers development opportunity at Martin Way and Hoh Street.
      8725 Tallon Ln NE, Lacey, WA 98516
      View Details
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      Lacey Development Site For Sale

      10.22 acre development site with light industrial zoning.
      8780 Commerce Place Dr NE, Lacey, WA 98516
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    Similar Nearby for Lease

    • $17,072 /Mo
      20,084 SF

      Lacey Warehouse Space For Rent

      20,084 SF warehouse with dock high and grade level.
      8719 Commerce Place Dr NE, Lacey, WA 98516
      View Details
    • $0.60 SF/Yr
      61,430 SF

      Lacey Warehouse Space Available

      61,430 SF warehouse space for lease in Lacey, WA.
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    • $8,755 /Mo
      8,500 SF

      Lacey Warehouse with Office Space

      8,500 SF suite with office, near I-5.
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    • $26,400
      44,000 SF

      Lacey Warehouse Space Available

      Class A warehouse space available for rent in Lacey, WA.
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    • Contact for pricing
      213,309 SF

      Lacey Warehouse Space Available

      Large industrial warehouse space for lease in Lacey, Washington.
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      View Details
    • $5,949 /Mo
      7,344 SF

      Lacey Office and Warehouse Space

      Functional office and warehouse space with flexible loading options.
      8910 Martin Way E, Olympia, WA 98516
      View Details
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    9161 Orion NE Dr
    Olympia, WA 98516
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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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