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Property profile & analytics
FOR SALE
Turn key restaurants
1405 S 2Nd St Mount Vernon, WA 98273
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0454289
For Sale
1 / 5
$1,550,000
1405 S 2Nd St, Mount Vernon, WA 98273
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1968
Total area
10,480 SF
Lot
0.42 ac (18,361 SF)
APN
3720-005-006-0006
UPID
US90-0454289
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
$1.45M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.32M
Blend (final)
Blend
$1.32M
Owner & transaction history
Ricky C Donovan · 1 yrs held
Ricky C Donovan
since 2025
Last sale
$1.2M
5 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 Mount Vernon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mount Vernon 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
$1,440,000
ML approach
$1,450,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,870,000
Change: -15% · Conversion: Difficult
OFFICE BUILDING
$1,780,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$1.32M
Range $1.18M – $1.45M · ±10% · vs last sale $1.19M (Jan 10 2025)
Last sale anchor
$1.19M
Jan 10 2025
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
$125 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$6,859
Tax year 2023
Assessed value
$630,900
Assessed 2022
Previous assessed
$525,700
+20.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$236,300
Assessed improvement
$394,600
Land market value
$236,300
Improvement market value
$394,600
Total market value
$630,900
Applied tax rate
930.0000
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
For Sale
Year built
1968
Heating
NONE
Stories
1
Total area
10,480 SF
Lot
0.42 ac (18,361 SF)
APN
3720-005-006-0006
UPID
US90-0454289
Jurisdiction
SKAGIT
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
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
1968
Heating
NONE
Stories
1
Lot
0.42 ac
Current owner
From public records · entity-resolved
Ricky C Donovan
Individual
Mailing address
1605 S 2ND ST, MOUNT VERNON, WA 98273-5201
Ownership since
2025
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 30, 2025
—
Ricky C Donovan
—
Deed
related
$60,000 · Eric S Speedy
Jan 10, 2025
$1,190,000
Ricky C Donovan
Bailey 1405 LLC
Warranty Deed
$1,190,000 · Bailey 1405 LLC
Jun 7, 2016
—
Bailey 1405 LLC
Bailey Family LP
Quit Claim Deed
related
—
May 31, 2016
$805,669
Bailey Family LP
Killowen LLC
Deed In Lieu Of Foreclosure
—
Dec 30, 2010
$893,000
Killowen LLC
Bailey Family LP
Warranty Deed
$843,000 · Bailey Family LP
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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