Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Turn key restaurants
23 Lk Bellevue Dr Bellevue, WA 98005-2406
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-3361498
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1985
Construction
WOOD
Total area
9,156 SF
Lot
1.44 ac (62,816 SF)
Zoning code
BR-GC
APN
398651-0010
UPID
US90-3361498
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
-
Japan America Development Business Management Consultant
-
I Love Sushi on Lake Bellevue Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$390k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$748k
Blend (final)
Blend
$570k
Owner & transaction history
Ze Mai Lun Investments INC · 9 yrs held
Ze Mai Lun Investments INC
since 2016
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
$390,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$570k
Range $513k – $627k · ±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
$62 / 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
$32,305
Tax year 2022
Assessed value
$4,566,600
Assessed 2022
Previous assessed
$4,566,600
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$3,714,900
Assessed improvement
$851,700
Land market value
$3,714,900
Improvement market value
$851,700
Total market value
$4,566,600
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
1985
Construction
WOOD
Heating
OTHER
Cooling
OTHER
Stories
1
Total area
9,156 SF
Lot
1.44 ac (62,816 SF)
Zoning code
BR-GC
APN
398651-0010
UPID
US90-3361498
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
1985
Construction
WOOD
Heating
OTHER
Cooling
Yes
Stories
1
Lot
1.44 ac
Current owner
From public records · entity-resolved
Ze Mai Lun Investments INC
Entity
Mailing address
8525 120TH AVE NE STE 100A, KIRKLAND, WA 98033-5866
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 21, 2016
$3,900,000
Ze Mai Lun Investments INC
Vista Investment Group LLP
Warranty Deed
—
Apr 30, 2014
$2,640,000
Vista Investment Group LLP
William Ryan Co LLC
Warranty Deed
—
Dec 30, 2005
$1,900,000
William Ryan Co LLC
Fourth Burroughs LLC
Warranty Deed
$800,000 · Us Bank NA
Feb 7, 2003
$1,050,000
Barrier Properties Lb LLC
Lake Bellevue Land Company LLC
Grant Deed
—
Dec 26, 1997
—
Lake Bellevue Land Co
C & I Co LP
Grant Deed
related
—
—
—
William Ryan Co LLC
—
Deed Of Trust
related
$507,795 · City Bank
—
—
William Ryan Co LLC
—
Deed Of Trust
related
$800,000 · Nam S Kim
—
—
Lake Bellevue Land Co LLC
—
Deed Of Trust
related
$1,000,000 · Key Bank NA
—
—
William Ryan Co LLC
—
Deed Of Trust
related
$502,566 · Whidbey Island Bank
—
—
William Ryan LLC
—
Deed Of Trust
related
$750,000 · Jung R & Kak R Kim
—
—
William Ryan LLC
—
Deed Of Trust
related
$1,700,000 · Wilshire State Bank
—
—
William Ryan Co LLC
—
Deed Of Trust
related
$4,650,000 · Wilshire State Bank
—
—
Lake Bellevue Land Co LLC
—
Deed Of Trust
related
$488,203 · 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 23 Lk Bellevue Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
