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Property profile & analytics
OFF-MARKET
Estimated value
$1,210,000
Turn key restaurants
16244 Cleveland St Redmond, WA 98052-4316
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0161321
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1916
Construction
WOOD
Total area
1,500 SF
Lot
0.14 ac (6,108 SF)
Zoning code
OT
APN
802970-0040
UPID
US90-0161321
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
-
Coastline Burgers Redmond Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.21M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$987k
Blend (final)
Blend
$1.21M
Owner & transaction history
Cec Real Estate LLC · 4 yrs held
Cec Real Estate LLC
since 2021
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
OT · Redmond, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.4M
+81.6%
Commercial (general)
$1.2M
+46.4%
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 Redmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redmond 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
$1,270,000
ML approach
$1,210,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$795,000
Current use
OFFICE BUILDING
$1,445,000
Change: +82% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,165,000
Change: +46% · Conversion: Easy
Blend value · Realmo final
$1.21M
Range $1.09M – $1.33M · ±10% · vs last sale $1.18M (Nov 1 2021)
Last sale anchor
$1.18M
Nov 1 2021
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
$807 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$6,641
Tax year 2022
Assessed value
$902,200
Assessed 2022
Previous assessed
$902,200
+0.0% YoY
Effective rate
0.74%
On assessed value
Assessed land
$824,500
Assessed improvement
$77,700
Land market value
$824,500
Improvement market value
$77,700
Total market value
$902,200
Applied tax rate
2,025.0000
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
1916
Construction
WOOD
Heating
FORCED AIR
Stories
1
Total area
1,500 SF
Lot
0.14 ac (6,108 SF)
Zoning code
OT
APN
802970-0040
UPID
US90-0161321
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OT · Redmond, WA
Zoning OT · permitted uses
OT · Redmond, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Redmond. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$795,000
OFFICE BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RESTAURANT Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1916
Construction
WOOD
Heating
FORCED AIR
Stories
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Cec Real Estate LLC
Entity
Mailing address
5720 127TH AVE NE, KIRKLAND, WA 98033-8741
Ownership since
2021
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
Apr 23, 2024
—
Cec Real Estate LLC
—
Deed
related
$174,527 · Kevin W & Carol H Sharer Joint Revocable
Nov 1, 2021
$1,180,000
Cec Real Estate LLC
Stone House Properties LLC
Warranty Deed
$1,180,000 · Kevin Sharer
Jan 19, 2017
—
Stone House Properties LLC
—
Deed
related
$300,000 · Wells Fargo Bank NA
Jan 26, 2001
$508,000
Stone House Properties LLC
Jordan,pamela L
Grant Deed
$458,000 · Individual
Apr 21, 2000
—
Pamela L Jordan
Jordan,mark H
Quit Claim Deed
related
—
Aug 3, 1999
$350,000
Mark H Jordan
Stone House Development LLC
Grant Deed
$310,000 · Seller
—
—
Stone House Properties LLC
—
Deed Of Trust
related
$442,453 · Redmond National Bank
—
—
Stone House Properties LLC
—
Deed Of Trust
related
$410,000 · Key Bank NA
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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