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Property profile & analytics
OFF-MARKET
Turn key restaurants
3055 21st W Ave Seattle, WA 98199-2987
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US90-0910873
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1947
Construction
WOOD
Total area
4,250 SF
Lot
0.08 ac (3,500 SF)
Zoning code
NC2P-55 (M)
APN
277060-2145
UPID
US90-0910873
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
-
Little free library Community Center
-
Umami Employment Agency
-
Mulleady's Irish Pub Nightclub Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Magnolia Hospitality Group INC · 19 yrs held
Magnolia Hospitality Group INC
since 2007
6 recorded transactions
Zoning & alternative use
NC2P-55 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this district is to promote neighborhood commercial activities, to support or encourage a pedestrian-oriented shopping area that provides a full range of household and personal goods and services, including convenience and specialty goods, to the surrounding neighborhoods, and that accommodates other uses that are compatible with the retail cha…
Zone name
Neighborhood Commercial Pedestrian Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
334.59 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 Seattle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seattle 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$11,062
Tax year 2022
Assessed value
$1,279,100
Assessed 2022
Previous assessed
$1,279,100
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$700,000
Assessed improvement
$579,100
Land market value
$700,000
Improvement market value
$579,100
Total market value
$1,279,100
Applied tax rate
10.0000
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
1947
Construction
WOOD
Heating
FORCED AIR
Stories
2
Total area
4,250 SF
Lot
0.08 ac (3,500 SF)
Zoning code
NC2P-55 (M)
APN
277060-2145
UPID
US90-0910873
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2P-55 (M) · Seattle, WAZoning NC2P-55 (M) · permitted uses
NC2P-55 (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this district is to promote neighborhood commercial activities, to support or encourage a pedestrian-oriented shopping area that provides a full range of household and personal goods and services, including convenience and specialty goods, to the surrounding neighborhoods, and that accommodates other uses that are compatible with the retail character of the area such as housing or offices. The Pedestrian designation is to preserve or encourage an intensely retail and pedestrian-oriented shopping district where non-auto modes of transportation to and within the district are strongly favored. M is the mandatory housing affordability suffix applied to this zone.
Zone name
Neighborhood Commercial Pedestrian Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
334.59 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1947
Construction
WOOD
Heating
FORCED AIR
Stories
2
Lot
0.08 ac
Current owner
From public records · entity-resolved
Magnolia Hospitality Group INC
Entity
Mailing address
3055 21ST AVE W, SEATTLE, WA 98199-2987
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2016
—
Magnolia Hospitality Group INC
—
Deed
related
$1,050,000 · Peoples Bank
Jan 29, 2007
$1,230,000
Magnolia Hospitality Group INC
Carl A Rogers LLC
Warranty Deed
$718,835 · Viking Bank
Jan 15, 2004
$410,000
Carl A Rogers
Abelsen,elizabeth A & Gordon E
Grant Deed
$250,000 · Elizabeth A & Gordon E Abelsen
Oct 8, 1997
$230,000
Elizabeth A Abelsen
Chin,kathy
Grant Deed
$193,902 · Key Bank NA
Apr 30, 1990
$168,000
Charlie Y Chow
Kim,chi Sol&youn
Grant Deed
—
—
—
Magnolia Hospitality Group INC
—
Deed Of Trust
related
$594,000 · Northwest Busn Dev Assn
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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