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Property profile & analytics
OFF-MARKET
Turn key restaurants
1312 Lakeway Dr, Bellingham, WA 98229-2008
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-1225216
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1966
Total area
1,688 SF
Lot
0.33 ac (14,401 SF)
Zoning code
PC
APN
380332 169506 0000
UPID
US90-1225216
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
-
Papa Murphy's | Take 'N' Bake Pizza Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Lovelace Properties LLC · 8 yrs held
Lovelace Properties LLC
since 2017
7 recorded transactions
Zoning & alternative use
PC · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2021Property tax & assessments
Tax year 2021
Tax billed
$6,829
Tax year 2021
Assessed value
$804,941
Assessed 2022
Previous assessed
$804,941
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$551,232
Assessed improvement
$253,709
Land market value
$551,232
Improvement market value
$253,709
Total market value
$804,941
Applied tax rate
100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1966
Heating
YES
Cooling
YES
Total area
1,688 SF
Lot
0.33 ac (14,401 SF)
Zoning code
PC
APN
380332 169506 0000
UPID
US90-1225216
Jurisdiction
WHATCOM
Zoning & alternative use
PC · Bellingham, WA
Zoning PC · permitted uses
PC · 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
1966
Heating
YES
Cooling
Yes
Lot
0.33 ac
Current owner
From public records · entity-resolved
Lovelace Properties LLC
Entity
Mailing address
16508 SE 24TH ST STE #200, VANCOUVER, WA 98683-4321
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 14, 2025
—
Lovelace Properties LLC
—
Deed
related
—
Sep 29, 2017
$800,000
Lovelace Properties LLC
North Maple Co LLC
Warranty Deed
$680,000 · First Citizens Bk
Dec 10, 2014
—
North Maple Co LLC
Haskell,betty
Quit Claim Deed
related
—
Jun 6, 2014
—
Susan A Martin
Martin,jack
Quit Claim Deed
related
—
Mar 19, 2014
—
Yorkston Family 1 LLC
Yorkston Paula
Quit Claim Deed
related
—
Mar 20, 2012
—
John B Blair III
Blair John B JR
Quit Claim Deed
related
—
Sep 6, 2011
$111,233
Yorkston Family 1 LLC
Yorkston Adrian
Grant Deed
—
Mar 9, 2009
—
Bang G Survivors Living Trust
Bang John & Gloria Trust
Quit Claim Deed
related
—
Apr 26, 2005
—
Betty Haskell
Haskell,f M
Quit Claim 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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