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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Turn key restaurants
3200 Nwnw Ave, Bellingham, WA 98225-1318
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0653758
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1957
Total area
2,482 SF
Lot
0.45 ac (19,602 SF)
Zoning code
NC10B
APN
380224 359475 0000
UPID
US90-0653758
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
$760k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$909k
Blend (final)
Blend
$690k
Owner & transaction history
Northwest Thai LLC · 5 yrs held
Northwest Thai LLC
since 2021
Last sale
$639,600
7 recorded transactions
Zoning & alternative use
NC10B · Bellingham, 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 Bellingham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bellingham 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
$725,000
ML approach
$760,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$975,000
Current use
OFFICE BUILDING
$850,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$690k
Range $621k – $759k · ±10% · vs last sale $640k (Jun 11 2021)
Last sale anchor
$640k
Jun 11 2021
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
$278 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$5,069
Tax year 2021
Assessed value
$587,140
Assessed 2022
Previous assessed
$587,140
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$446,880
Assessed improvement
$140,260
Land market value
$446,880
Improvement market value
$140,260
Total market value
$587,140
Applied tax rate
100.0000
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
1957
Heating
NONE
Cooling
YES
Total area
2,482 SF
Lot
0.45 ac (19,602 SF)
Zoning code
NC10B
APN
380224 359475 0000
UPID
US90-0653758
Jurisdiction
WHATCOM
Zoning & alternative use
NC10B · Bellingham, WA
Zoning NC10B · permitted uses
NC10B · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bellingham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$975,000
OFFICE BUILDING
Est. value
$850,000
RESTAURANT Current
OFFICE BUILDING
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
1957
Heating
NONE
Cooling
Yes
Lot
0.45 ac
Current owner
From public records · entity-resolved
Northwest Thai LLC
Entity
Mailing address
PO BOX 1887, BELLINGHAM, WA 98227-1887
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2021
$639,600
Northwest Thai LLC
Didi Lody
Warranty Deed
—
Apr 19, 2019
—
Hunziker,fredy P Living Trust
Hunziker,fredy P
Quit Claim Deed
related
—
Jan 29, 1998
$345,346
Fredy P Hunziker
Gibb,stephen D & Melanie B
Grant Deed
$220,000 · Individual
—
—
Fredy P Hunziker
—
Deed Of Trust
related
$340,000 · Whidbey Island Bank
—
—
Fredy P Hunziker
—
Deed Of Trust
related
$268,991 · Whidbey Island Bank
—
—
Fredy P Hunziker
—
Deed Of Trust
related
$56,300 · Whatcom Educational Cu
—
—
Fredy P Hunziker
—
Deed Of Trust
related
$30,000 · Individual
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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