Thurston County Assessor
Parcel Number: 78507500101
 
Situs Address: 221 5TH AVE SW
 
Owner: WATER STREET ASSOCIATES LLC
Address:1321 SENECA ST UNIT 2301
 SEATTLE, WA 98101
 
Taxpayer: WATER STREET ASSOCIATES LLC
Address:1321 SENECA ST UNIT 2301
 SEATTLE, WA 98101
 
Abbreviated Legal:Section 14 Township 18 Range 2W Plat SYLVESTER TR A BLA 981132 3183487
 
Associations:78507500300   WATER STREET ASSOCIATES LLC
Date: 2/21/2026
 
Sect/Town/Range:14 18 2W
 
Size:0.74 Acres
UseCode:61 Service - Finance
TCA Number:110
Neighborhood:3OFB
Property Type:OFF
Taxable:YES
Active Exemptions:None
School District:OLYMPIA S.D. #111
 

Market Values

Tax Year2026202520242023202220212020201920182017
Assessment Year2025202420232022202120202019201820172016
 
Market Value Land$767,000$715,500$806,000$806,000$806,000$1,134,000$925,000$652,600$1,302,100$887,450
Market Value Buildings$332,100$376,000$300,000$300,000$300,000$410,300$376,200$316,600$322,000$281,000
Market Value Total$1,099,100$1,091,500$1,106,000$1,106,000$1,106,000$1,544,300$1,301,200$969,200$1,624,100$1,168,450


Commercial Structures

BuildingYear BuiltFloorSquare FeetNo. FloorsTotal Sq. Ft.QualityCondition
OFFICE19151649016490AVERAGEAVERAGE
   
 ---------- 
 6490
 
 

Detached Structures

StructureYear BuiltSquare FeetQualityCondition
 
PVNG-CONCRTE19621890AVERAGEAVERAGE
PVNG-ASPHALT19627945AVERAGEAVERAGE

Land Characteristics

Land Flag6000
 
Lot Square Footage32500
 
Lot Acreage0.74
 
Effective FrontageNot Listed
 
Effective DepthNot Listed
 
Land Influence(s)No Influences Listed

Sales

Sale Date:12/30/202111/06/2003
Price:$5,350,000$11,120
Excise:E022904318358
Sale Type:STATUTRY WARNTY DEEDEASEMENT
Recording Number:49069533595972
Seller:HERITAGE FEDERAL SAV & LOAN
Buyer:WATER STREET ASSOCIATES LLCHERITAGE FEDERAL SAV & LOAN
Multiple Parcel Sale:YY
 

The Assessor's Office maintains property records on approximately 112,000 parcels in Thurston County for tax purposes. Though records are updated regularly, the accuracy and timeliness of published data cannot be guaranteed. Any person or entity that relies on information obtained from this website does so at his or her own risk. Neither Thurston County nor the Assessor will be held liable for damage or losses caused by use of this information. All critical information should be independently verified.
 

Office of the Assessor

Steven J. Drew, Assessor
3000 Pacific Ave SE, Olympia WA 98501
Customer Service (360)867-2200 -- Fax (360)867-2201 -- TDD (360)754-2933