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Property profile & analytics
OFF-MARKET
Estimated value
$1,430,000
Bars & Pubs
1538 Kentucky St, Bellingham, WA 98229-4720
Individually Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1253387
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
1991
Total area
10,680 SF
Lot
0.47 ac (20,473 SF)
Zoning code
LI
APN
380329 266443 0000
UPID
US90-1253387
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
-
Ah! Chihuahua Taco Truck Restaurant
-
Carve Casual Restaurant
-
Kulshan Brewing Co - Roosevelt Production Facility Brewery & Distillery
-
El Pollo Feo Food Trucks Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.48M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.43M
Owner & transaction history
Bryan Lewis · 2 yrs held
Bryan Lewis
since 2024
Last sale
$1.4M
3 recorded transactions
Zoning & alternative use
LI · 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
$1,340,000
ML approach
$1,480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.43M
Range $1.29M – $1.57M · ±10% · vs last sale $1.45M (Jun 16 2022)
Last sale anchor
$1.45M
Jun 16 2022
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
$134 / 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
$13,087
Tax year 2021
Assessed value
$1,542,507
Assessed 2022
Previous assessed
$1,542,507
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$569,968
Assessed improvement
$972,539
Land market value
$569,968
Improvement market value
$972,539
Total market value
$1,542,507
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
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
1991
Heating
SPACE
Cooling
EVAPORATIVE
Total area
10,680 SF
Lot
0.47 ac (20,473 SF)
Zoning code
LI
APN
380329 266443 0000
UPID
US90-1253387
Jurisdiction
WHATCOM
Zoning & alternative use
LI · Bellingham, WA
Zoning LI · permitted uses
LI · 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
1991
Heating
SPACE
Cooling
Yes
Lot
0.47 ac
Current owner
From public records · entity-resolved
Bryan Lewis
Individual
Mailing address
344 IDA ST PALM HARBOR
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2024
$1,449,957
Bryan Lewis
Eila Lewis
Deed
related
$1,176,700 · Eila Lewis
Jul 15, 2022
—
Eila Lewis
Eila Lewis
Re-recorded Document
related
—
Jun 16, 2022
—
Eila Lewis
Eila Lewis
Intrafamily Transfer
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.
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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