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Property profile & analytics
FOR SALE
Turn key restaurants
12981 State Route 20, Coupeville, WA 98239
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1736536
For Sale
1 / 3
$2,100,000
12981 State Route 20, Coupeville, WA 98239
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1981
Total area
4,351 SF
Lot
2.45 ac (106,722 SF)
Zoning code
80
APN
R13122-250-2590
UPID
US90-1736536
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
Current use
Occupant on record · Public records
-
Callen's Restaurant Restaurant
-
Parking Lot Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$920k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$609k
Blend (final)
Blend
$660k
Owner & transaction history
Gratitude Inlet LLC · 2 yrs held
Gratitude Inlet LLC
since 2023
Last sale
$689,000
6 recorded transactions
Zoning & alternative use
80 · Coupeville, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$820,000
+15.8%
Retail stores
$735,000
+3.5%
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 Coupeville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Coupeville 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
$920,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$710,000
Current use
COMMERCIAL (GENERAL)
$820,000
Change: +16% · Conversion: Easy
RETAIL STORES
$735,000
Change: +4% · Conversion: Easy
OFFICE BUILDING
$685,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$660k
Range $594k – $726k · ±10% · vs last sale $689k (Aug 4 2023)
Last sale anchor
$689k
Aug 4 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
$152 / 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
Property tax & assessments
Assessed value
$938,925
Assessed 2023
Previous assessed
$823,181
+14.1% YoY
Assessed land
$350,000
Assessed improvement
$588,925
Land market value
$350,000
Improvement market value
$588,925
Total market value
$938,925
Applied tax rate
312.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
For Sale
Year built
1981
Heating
ELECTRIC
Stories
1
Rooms
1
Total area
4,351 SF
Lot
2.45 ac (106,722 SF)
Zoning code
80
APN
R13122-250-2590
UPID
US90-1736536
Jurisdiction
ISLAND
Zoning & alternative use
80 · Coupeville, WA
Zoning 80 · permitted uses
80 · Coupeville, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Coupeville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$710,000
COMMERCIAL (GENERAL)
Est. value
$820,000
RETAIL STORES
Est. value
$735,000
OFFICE BUILDING
Est. value
$685,000
RESTAURANT Current
COMMERCIAL (GENERAL)
RETAIL STORES
OFFICE BUILDING
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
1981
Heating
ELECTRIC
Stories
1
Rooms
1
Lot
2.45 ac
Current owner
From public records · entity-resolved
Gratitude Inlet LLC
Entity
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 4, 2023
—
Gratitude Inlet LLC
Em And M Enterprises LLC
Quit Claim Deed
related
—
Aug 2, 2022
—
Em Nad M Enterprises LLC
Michael Weeks
Quit Claim Deed
related
—
Jun 9, 2022
—
Michael Weeks
—
Deed
related
$540,000 · Peoples Bank
Oct 10, 2018
—
Tiane M White
White,randy B
Quit Claim Deed
related
—
May 31, 2018
$689,000
Michael Weeks
Kellison,ray L & Christine
Warranty Deed
$649,000 · Ray L & Christine Kellison
Jul 6, 2007
$785,000
Ray L Kellison
Allmer,harold L & Nancy L
Warranty Deed
$485,000 · Harold L & Nancy L Allmer
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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