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Property profile & analytics
OFF-MARKET
Estimated value
$17,865,000
Theaters & concert halls
150 Cascade Mall Dr, Burlington, WA 98233-3250
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-0591458
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1989
Total area
202,311 SF
Lot
43.77 ac (1,906,534 SF)
APN
340406-4-001-0019
UPID
US90-0591458
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$17.87M
Owner & transaction history
Burlington Investment Propetrties I · 3 yrs held
Burlington Investment Propetrties I
since 2023
Last sale
$18.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$28.3M
+80.6%
Office building
$25.8M
+64.6%
Restaurant
$23.0M
+46.7%
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 Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington 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
$16,600,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
THEATER (MOVIE)
$15,660,000
Current use
COMMERCIAL (GENERAL)
$28,280,000
Change: +81% · Conversion: Difficult
OFFICE BUILDING
$25,770,000
Change: +65% · Conversion: Difficult
RESTAURANT
$22,975,000
Change: +47% · Conversion: Difficult
MEDICAL BUILDING
$21,805,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$21,610,000
Change: +38% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$15,715,000
Change: +0% · Conversion: Difficult
RETAIL STORES
$15,540,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$17.87M
Range $16.08M – $19.65M · ±10% · vs last sale $18.50M (Apr 14 2023)
Last sale anchor
$18.50M
Apr 14 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
$88 / 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
$73,212
Tax year 2024
Assessed value
$8,853,900
Assessed 2023
Previous assessed
$7,129,000
+24.2% YoY
Effective rate
0.83%
On assessed value
Assessed land
$7,297,800
Assessed improvement
$1,556,100
Land market value
$7,297,800
Improvement market value
$1,556,100
Total market value
$8,853,900
Applied tax rate
905.0000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1989
Heating
NONE
Buildings
2
Total area
202,311 SF
Lot
43.77 ac (1,906,534 SF)
APN
340406-4-001-0019
UPID
US90-0591458
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
THEATER (MOVIE) Current
Est. value
$15.7M
COMMERCIAL (GENERAL)
Est. value
$28.3M
OFFICE BUILDING
Est. value
$25.8M
RESTAURANT
Est. value
$23.0M
MEDICAL BUILDING
Est. value
$21.8M
AUTO REPAIR, GARAGE
Est. value
$21.6M
INDUSTRIAL (GENERAL)
Est. value
$15.7M
RETAIL STORES
Est. value
$15.5M
THEATER (MOVIE) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
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
1989
Heating
NONE
Buildings
2
Lot
43.77 ac
Current owner
From public records · entity-resolved
Burlington Investment Propetrties I
Entity
Free & Clear · 3 yrs held
Mailing address
13817 NE 20TH ST, BELLEVUE, WA 98005-2012
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 14, 2023
$18,500,000
Burlington Investment Propetrties I
Mgp Xi Cascade LLC
Bargain And Sale Deed
—
Jan 19, 2022
—
Johnny Carino S Skagt Valley LLC
Ppr Cascade LLC
Lease
—
Jan 19, 2017
$16,000,000
Mgp Xi Cascade LLC
Mac Cascade LLC
Grant Deed
—
May 11, 2011
—
Apple Washington LLC
—
Deed Of Trust
related
$320,000,000 · Bank Of America
Feb 4, 2010
—
Apple Washington LLC
—
Deed Of Trust
related
$160,000,000 · Bank Of America
Oct 6, 2004
—
Apple Washington LLC
—
Deed Of Trust
related
$143,120,000 · Bank Of America
Feb 24, 1999
$41,000
Prr Cascade LLC
Winmar Cascade INC
Grant Deed
—
—
—
Ppr Cascade LLC
—
Deed Of Trust
related
—
—
—
Plitt Theatres INC
—
Deed Of Trust
related
$140,000 · Bankers Trust Co
—
—
Ppr Cascade LLC
—
Deed Of Trust
related
—
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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