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Property profile & analytics
OFF-MARKET
Estimated value
$3,315,000
Grocery and convenience stores
1554 Fairgrounds Rd, Bremerton, WA 98311-3235
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0635797
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1996
Total area
9,108 SF
Lot
1.48 ac (64,469 SF)
Zoning code
C
APN
262501-1-043-2003
UPID
US90-0635797
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
-
Gyro King Restaurant
-
Burger King Restaurant
-
Subway Take-out & Catering
-
Oishi Japanese kitchen Restaurant
-
Society Cleaners Inc (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.74M
CAP Approach
CAP
$3.27M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.32M
Owner & transaction history
Fairgrounds Plaza LLC · 3 yrs held
Fairgrounds Plaza LLC
since 2023
Last sale
$2.9M
7 recorded transactions
Zoning & alternative use
C · Bremerton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.1M
+76.1%
Restaurant
$3.2M
+39.2%
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 Bremerton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bremerton 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
$3,770,000
ML approach
$3,735,000
CAP Approach
CAP Return
Estimation
6%
$3,545,000
6.5%
$3,270,000
7%
$3,035,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,325,000
Current use
COMMERCIAL (GENERAL)
$4,090,000
Change: +76% · Conversion: Easy
RESTAURANT
$3,235,000
Change: +39% · Conversion: Difficult
MEDICAL BUILDING
$2,210,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$3.32M
Range $2.98M – $3.65M · ±10% · vs last sale $2.90M (Jun 1 2023)
Last sale anchor
$2.90M
Jun 1 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
$364 / 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
$31,806
Tax year 2024
Assessed value
$3,572,460
Assessed 2024
Previous assessed
$3,417,850
+4.5% YoY
Effective rate
0.89%
On assessed value
Assessed land
$311,430
Assessed improvement
$3,261,030
Land market value
$311,430
Improvement market value
$3,261,030
Total market value
$3,572,460
Applied tax rate
6,220.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1996
Heating
YES
Stories
1
Total area
9,108 SF
Lot
1.48 ac (64,469 SF)
Zoning code
C
APN
262501-1-043-2003
UPID
US90-0635797
Jurisdiction
KITSAP
Zoning & alternative use
C · Bremerton, WA
Zoning C · permitted uses
C · Bremerton, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bremerton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$4.1M
RESTAURANT
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL 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
1996
Heating
YES
Stories
1
Lot
1.48 ac
Current owner
From public records · entity-resolved
Fairgrounds Plaza LLC
Entity
Mailing address
1554 NE FAIRGROUNDS RD STE #8, BREMERTON, WA 98311-3235
Mailing matches property
Yes
Owner-occupied
Yes
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2023
$2,900,000
Fairgrounds Plaza LLC
North Stream LLC
Warranty Deed
$2,300,000 · North Stream LLC
Apr 1, 1997
—
North Stream LLC
Robinson,james H & Audrey M
Quit Claim Deed
related
—
Jan 3, 1996
$225,000
Richard A Sollom
Carlson,james E & Shirley A
Grant Deed
—
—
—
North Stream LLC
—
Deed Of Trust
related
$249,000 · First National Bank Port Orcha
—
—
Stream North
—
Deed Of Trust
related
$1,100,000 · Standard Mortgage Investors
—
—
North Stream
—
Deed Of Trust
related
$1,077,181 · Audrey M Robinson
—
—
North Stream LLC
—
Deed Of Trust
related
$249,000 · First National Bank Port Orcha
—
—
Stream North
—
Deed Of Trust
related
$1,100,000 · Standard Mortgage Investors
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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