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Property profile & analytics
OFF-MARKET
Estimated value
$1,960,000
Turn key restaurants
1315 12th St Bellingham, WA 98225-7105
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-3309316
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1961
Total area
2,431 SF
Lot
0.25 ac (10,999 SF)
Zoning code
CC
APN
370201 149077 0000
UPID
US90-3309316
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
$2.19M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.52M
Blend (final)
Blend
$1.96M
Owner & transaction history
Peoples Bank · 3 yrs held
Peoples Bank
since 2023
Last sale
$2.0M
5 recorded transactions
Zoning & alternative use
CC · Bellingham, WA
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 Bellingham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bellingham 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
$2,190,000
ML approach
$2,185,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.96M
Range $1.76M – $2.16M · ±10% · vs last sale $1.95M (May 3 2023)
Last sale anchor
$1.95M
May 3 2023
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
$806 / 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
$8,735
Tax year 2024
Assessed value
$1,123,459
Assessed 2023
Previous assessed
$1,195,169
-6.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$899,580
Assessed improvement
$223,879
Land market value
$899,580
Improvement market value
$223,879
Total market value
$1,123,459
Applied tax rate
100.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1961
Heating
NONE
Cooling
YES
Total area
2,431 SF
Lot
0.25 ac (10,999 SF)
Zoning code
CC
APN
370201 149077 0000
UPID
US90-3309316
Jurisdiction
WHATCOM
Zoning & alternative use
CC · Bellingham, WA
Zoning CC · permitted uses
CC · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bellingham. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1961
Heating
NONE
Cooling
Yes
Lot
0.25 ac
Current owner
From public records · entity-resolved
Peoples Bank
Entity
Mailing address
3100 WOBURN ST, BELLINGHAM, WA 98226-8678
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2023
$1,950,000
Peoples Bank
Rocket Properties II LLC
Bargain And Sale Deed
—
Jul 9, 2015
$1,345,000
Rocket Properties II LLC
Muljat Troy C & Heather M
Grant Deed
—
Aug 10, 2006
—
Troy C Muljat
—
Trustees Deed
related
$250,000 · Bank Of Pacific
Apr 30, 2004
$675,000
Troy C Muijat
Waistrom,thomas A & Mary L
Grant Deed
$506,250 · Bank Of The Pacific
—
—
Troy C Muljat
—
Deed Of Trust
related
$950,000 · Business Bank
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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