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Property profile & analytics
OFF-MARKET
Estimated value
$295,000
Turn key restaurants
18498 Ballinger NE Way Lake Forest Park, WA 98155-4239
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-1291335
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,400 SF
Lot
0.28 ac (12,040 SF)
Zoning code
NB
APN
032604-9016
UPID
US90-1291335
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$320k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$295k
Owner & transaction history
Book LLC · 8 yrs held
Book LLC
since 2018
7 recorded transactions
Zoning & alternative use
NB · Lake Forest Park, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
It is the purpose of this chapter to permit the establishment of business facilities for a neighborhood which will adhere to the concept, controls and intent noted in this chapter, The neighborhood business zone shall include only facilities designed to serve the everyday needs of the immediate neighborhood and shall not include features designed to attract…
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
3.98 ac
Source
Realmo
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 Lake Forest Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Forest Park 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
by Request
ML approach
$320,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$295k
Range $266k – $325k · ±10%
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
$123 / 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
$10,185
Tax year 2022
Assessed value
$960,000
Assessed 2022
Previous assessed
$960,000
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$481,600
Assessed improvement
$478,400
Land market value
$481,600
Improvement market value
$478,400
Total market value
$960,000
Applied tax rate
1,256.0000
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
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
2,400 SF
Lot
0.28 ac (12,040 SF)
Zoning code
NB
APN
032604-9016
UPID
US90-1291335
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NB · Lake Forest Park, WAZoning NB · permitted uses
NB · Lake Forest Park, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
It is the purpose of this chapter to permit the establishment of business facilities for a neighborhood which will adhere to the concept, controls and intent noted in this chapter, The neighborhood business zone shall include only facilities designed to serve the everyday needs of the immediate neighborhood and shall not include features designed to attract excessive traffic from beyond that neighborhood
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
3.98 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Book LLC
Entity
Mailing address
18498 BALLINGER WAY NE, LAKE FOREST PARK, WA 98155-4239
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 26, 2025
—
Book LLC
—
Deed
related
$860,000 · Heritage Bank
Mar 13, 2020
—
Book LLC
—
Deed
related
$925,000 · Americas Cu
Feb 23, 2018
$950,000
Book LLC
Cha Y Jeong
Warranty Deed
$760,000 · Americas Cu
Jun 30, 2017
—
Cha Y Jeong
—
Deed
related
$347,000 · First Ic Bank
May 23, 2011
$650,000
Young Jeong Cha
Thumb One INC
Warranty Deed
$900,000 · Hana Small Business Lending INC
May 6, 2008
$950,000
Thumb One INC
Podori Ents Ltd
Warranty Deed
$1,117,000 · Pacific City Bank
May 20, 2004
$450,000
Podori Enterprise Ltd
Suh,william J & Myung J
Grant Deed
$450,000 · Centerbank
Oct 23, 2002
$350,000
William J Suh
Shim Iinvestments INC
Grant Deed
$466,679 · City Bank
Sep 28, 2001
$307,500
Forest Park Market Lake
Liang C Sau Fong Estate
Grant Deed
$180,000 · Pacific Union Bank
—
—
Cha Y Jeong
—
Deed Of Trust
related
$347,000 · First Ic Bank
—
—
Book LLC
—
Loan Modification
related
$925,000 · Americas Cu
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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