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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Turn key restaurants
2 Lk Bellevue Dr Bellevue, WA 98005-2415
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US90-1733848
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1977
Construction
WOOD
Total area
6,947 SF
Lot
1.34 ac (58,487 SF)
Zoning code
BR-GC
APN
109910-0529
UPID
US90-1733848
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
-
螃蟹屋 Restaurant
-
The Crab Pot Bellevue Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$330k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$771k
Blend (final)
Blend
$550k
Owner & transaction history
2 Lake Bellevue LLC · 14 yrs held
2 Lake Bellevue LLC
since 2011
7 recorded transactions
Zoning & alternative use
BR-GC · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the BelRed-GC Land Use District is to provide an area for a wide variety of business activities that provide goods and services to other businesses and the general public.
Zone name
Bel Red General Commercial
General category
COMMERCIAL
Zone area
163.45 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 Bellevue submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bellevue 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
$330,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$550k
Range $495k – $605k · ±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
$79 / 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
$33,304
Tax year 2022
Assessed value
$4,708,000
Assessed 2022
Previous assessed
$4,708,000
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$4,707,000
Assessed improvement
$1,000
Land market value
$4,707,000
Improvement market value
$1,000
Total market value
$4,708,000
Applied tax rate
330.0000
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
1977
Construction
WOOD
Heating
OTHER
Cooling
OTHER
Stories
1
Total area
6,947 SF
Lot
1.34 ac (58,487 SF)
Zoning code
BR-GC
APN
109910-0529
UPID
US90-1733848
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BR-GC · Bellevue, WAZoning BR-GC · permitted uses
BR-GC · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the BelRed-GC Land Use District is to provide an area for a wide variety of business activities that provide goods and services to other businesses and the general public.
Zone name
Bel Red General Commercial
General category
COMMERCIAL
Zone area
163.45 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1977
Construction
WOOD
Heating
OTHER
Cooling
Yes
Stories
1
Lot
1.34 ac
Current owner
From public records · entity-resolved
2 Lake Bellevue LLC
Entity
Mailing address
1301 ALASKAN WAY, SEATTLE, WA 98101-2013
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2020
—
Hal E Griffith JR.
—
Deed
related
$49,000,000 · Wells Fargo Bank NA
Nov 27, 2017
—
Pier 57 Corp
—
Loan Modification
related
$11,318,125 · Wells Fargo Bk
May 5, 2016
—
Pier 57 Corp
—
Deed
related
$11,318,125 · Wells Fargo Bk
May 11, 2012
—
Pier 57 Corp
—
Deed Of Trust
related
$17,735,000 · Wells Fargo Bank
Dec 1, 2011
—
2 Lake Bellevue LLC
Griffith,hal E & Joan I
Quit Claim Deed
related
—
Oct 28, 2011
—
Pier 57 Corp
—
Deed Of Trust
related
$15,200,000 · Wells Fargo Bank
Aug 31, 1998
$988,400
Hale E Griffith
Chalon International Of Americ
Grant Deed
—
Feb 12, 1990
$2,000,000
Chalon International Of Ame
Restaurants Unlm
Grant Deed
—
—
—
Hal E Griffith
—
Deed Of Trust
related
$1,300,000 · Us Bank
—
—
Pier 57 Corp
—
Deed Of Trust
related
$21,020,000 · Wells Fargo Bank
—
—
Pier 57 Corp
—
Deed Of Trust
related
$20,910,000 · Wells Fargo Bank
—
—
Hal E Griffith
—
Deed Of Trust
related
$980,826 · Us 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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