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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Turn key restaurants
21816 Marine Vw S Dr Des Moines, WA 98198-6156
Entity Owned
1-yr Hold
Free & Clear
Property ID
US90-1697459
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1965
Construction
WOOD
Total area
2,010 SF
Lot
0.31 ac (13,500 SF)
Zoning code
D-C
APN
200900-2210
UPID
US90-1697459
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$675k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$638k
Blend (final)
Blend
$615k
Owner & transaction history
Hnp Properties LLC · 1 yrs held
Hnp Properties LLC
since 2025
Last sale
$600,000
7 recorded transactions
Zoning & alternative use
D-C · Des Moines, 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 Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Des Moines 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
$615,000
ML approach
$675,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,015,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$615k
Range $554k – $677k · ±10% · vs last sale $600k (Feb 10 2025)
Last sale anchor
$600k
Feb 10 2025
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
$306 / 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
$5,596
Tax year 2022
Assessed value
$391,900
Assessed 2022
Previous assessed
$391,900
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed land
$351,000
Assessed improvement
$40,900
Land market value
$351,000
Improvement market value
$40,900
Total market value
$391,900
Applied tax rate
1,107.0000
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
WOOD
Heating
FORCED AIR
Stories
1
Total area
2,010 SF
Lot
0.31 ac (13,500 SF)
Zoning code
D-C
APN
200900-2210
UPID
US90-1697459
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
D-C · Des Moines, WA
Zoning D-C · permitted uses
D-C · Des Moines, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.0M
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
1965
Construction
WOOD
Heating
FORCED AIR
Stories
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
Hnp Properties LLC
Entity
Free & Clear · 1 yrs held
Mailing address
24010 MARINE VW DR S, DES MOINES, WA 98198-3814
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 10, 2025
$747,700
Hnp Properties LLC
Hnp Investments INC
Quitclaim Deed
related
—
Jul 31, 2017
—
Hnp Investments INC
—
Deed
related
$273,000 · Bank Of The West
Jun 24, 2008
$600,000
Hnp Investments INC
Kim,kil S
Warranty Deed
$590,000 · Mirae Bank
Apr 21, 2006
$470,000
Kil S Kim
Joseph Song Corp
Warranty Deed
$352,000 · Hanmi Bank
Jan 24, 2005
—
June Bae
Bae,chong N
Quit Claim Deed
related
—
Jan 14, 2005
$410,000
Joseph Song Corp
June Bae
Warranty Deed
$410,000 · Pacific International Bank
Oct 4, 2001
—
June Bae
Choi,jung S & Soon R
Quit Claim Deed
related
—
Jun 30, 1998
$400,000
Sang,secured Income Group
Choi,jung S & Soon R
Grant Deed
$400,000 · Seller
Jan 3, 1992
$270,000
Secured Income Group
Kim,joseph M S&s
Grant Deed
—
—
—
Hnp Investments INC
—
Deed Of Trust
related
$273,000 · Bank Of The West
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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