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Property profile & analytics
OFF-MARKET
Estimated value
$1,575,000
Turn key restaurants
1501 12th St, Bellingham, WA 98225-7419
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-1100843
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1980
Total area
2,736 SF
Lot
0.27 ac (11,552 SF)
Zoning code
CC
APN
370201 151027 0000
UPID
US90-1100843
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
$1.58M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.71M
Blend (final)
Blend
$1.58M
Owner & transaction history
1501 12th St LLC · 2 yrs held
1501 12th St LLC
since 2024
Last sale
$1.6M
4 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
$1,575,000
ML approach
$1,575,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,075,000
Current use
Blend value · Realmo final
$1.58M
Range $1.42M – $1.73M · ±10% · vs last sale $1.58M (Feb 26 2024)
Last sale anchor
$1.58M
Feb 26 2024
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
$576 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$9,999
Tax year 2021
Assessed value
$1,147,291
Assessed 2022
Previous assessed
$1,147,291
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$803,880
Assessed improvement
$343,411
Land market value
$803,880
Improvement market value
$343,411
Total market value
$1,147,291
Applied tax rate
111.0000
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
1980
Heating
NONE
Total area
2,736 SF
Lot
0.27 ac (11,552 SF)
Zoning code
CC
APN
370201 151027 0000
UPID
US90-1100843
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.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.1M
RESTAURANT Current
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
1980
Heating
NONE
Lot
0.27 ac
Current owner
From public records · entity-resolved
1501 12th St LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1212 LARRABEE AVE, BELLINGHAM, WA 98225-7425
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2024
—
1501 12th St LLC
Msy Properties LLC
Re-recorded Document
related
—
Feb 26, 2024
$1,575,000
1501 12th St LLC
Msy Properties LLC
Warranty Deed
—
Apr 10, 2023
—
Msy Properties LLC
Yorkston Family I LLC
Quit Claim Deed
related
—
May 30, 2019
$295,000
Alicia Hickman
Provencher,theodore R & Patricia
Warranty 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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