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Property profile & analytics
OFF-MARKET
Estimated value
$2,105,000
Medical Office Space
Olympia, WA 98506
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-2094797
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2020
Construction
STEEL FRAME
Total area
26,002 SF
Lot
2.45 ac (106,722 SF)
APN
1181-81-40700
UPID
US90-2094797
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
by Request
Blend (final)
Blend
$2.11M
Owner & transaction history
Ga Development LLC · 8 yrs held
Ga Development LLC
since 2018
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Olympia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Olympia 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
OFFICE BUILDING
$3,095,000
Change: 0% · Conversion: Easy
RETAIL STORES
$2,830,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,820,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,585,000
Change: 0% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,350,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.11M
Range $1.89M – $2.32M · ±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
$81 / 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
$61,670
Tax year 2024
Assessed value
$6,336,800
Assessed 2023
Previous assessed
$8,875,200
-28.6% YoY
Effective rate
0.97%
On assessed value
Assessed land
$550,700
Assessed improvement
$5,786,100
Land market value
$550,700
Improvement market value
$5,786,100
Total market value
$6,336,800
Applied tax rate
114.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2020
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
2
Total area
26,002 SF
Lot
2.45 ac (106,722 SF)
APN
1181-81-40700
UPID
US90-2094797
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
OFFICE BUILDING
Est. value
$3.1M
RETAIL STORES
Est. value
$2.8M
INDUSTRIAL (GENERAL)
Est. value
$2.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
WAREHOUSE, STORAGE
Est. value
$2.4M
OFFICE BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
2020
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
2
Lot
2.45 ac
Current owner
From public records · entity-resolved
Ga Development LLC
Entity
Mailing address
209 LILLY RD NE STE #204, OLYMPIA, WA 98506-5030
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2021
—
Ga Development LLC
—
Deed
related
$7,149,781 · Heritage Southeast Bank
Sep 16, 2021
—
Ga Development LLC
—
Deed
related
$473,000 · Heritage Southeast Bank
Apr 10, 2018
$443,441
Ga Development LLC
Olympia Medical Partners LLC
Warranty Deed
$7,520,000 · Heritage Bank
Mar 6, 2007
$400,000
Olympia Medical Partners LLC
Providence Saint Peter Hospita
Warranty Deed
—
Mar 2, 2007
—
Providence Saint Peter Hospita
Deford Genevieve E
Warranty Deed
—
Jun 27, 2005
—
Providence Saint Peter Foun
Jones,william
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.
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