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Property profile & analytics
OFF-MARKET
Estimated value
$645,000
Turn key restaurants
33185 State Rte 20, Oak Harbor, WA 98277-8713
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US90-1196941
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1985
Construction
WOOD
Total area
6,249 SF
Lot
0.83 ac (36,155 SF)
Zoning code
OH
APN
R13335-453-4210
UPID
US90-1196941
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
-
China City Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$390k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$903k
Blend (final)
Blend
$645k
Owner & transaction history
China City Properties II LLC · 16 yrs held
China City Properties II LLC
since 2009
7 recorded transactions
Zoning & alternative use
OH · Oak Harbor, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$935,000
+6.0%
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 Oak Harbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oak Harbor 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
Alternative Use
Use
Estimation
RESTAURANT
$885,000
Current use
RETAIL STORES
$935,000
Change: +6% · Conversion: Easy
OFFICE BUILDING
$850,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$645k
Range $581k – $710k · ±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
$103 / 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
Property tax & assessments
Assessed value
$1,509,473
Assessed 2023
Previous assessed
$1,297,245
+16.4% YoY
Assessed land
$506,167
Assessed improvement
$1,003,306
Land market value
$506,167
Improvement market value
$1,003,306
Total market value
$1,509,473
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
1985
Construction
WOOD
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Rooms
1
Total area
6,249 SF
Lot
0.83 ac (36,155 SF)
Zoning code
OH
APN
R13335-453-4210
UPID
US90-1196941
Jurisdiction
ISLAND
Zoning & alternative use
OH · Oak Harbor, WA
Zoning OH · permitted uses
OH · Oak Harbor, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Oak Harbor. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$885,000
RETAIL STORES
Est. value
$935,000
OFFICE BUILDING
Est. value
$850,000
RESTAURANT Current
RETAIL STORES
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
1985
Construction
WOOD
Heating
PACKAGE
Cooling
Yes
Stories
1
Rooms
1
Lot
0.83 ac
Current owner
From public records · entity-resolved
China City Properties II LLC
Entity
Mailing address
1804 SCOTT RD, FREELAND, WA 98249-9430
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 14, 2020
—
China City Properties II LLC
—
Deed
related
$1,305,000 · Washington Trust Bank
Oct 1, 2009
$1,178,000
China City Properties II LLC
Lmd LLC
Warranty Deed
$1,589,850 · Columbia State Bank
—
—
China City Properties II LLC
—
Deed Of Trust
related
$1,583,959 · Columbia State Bank
—
—
Evergreen Business Cap Cdc
—
Deed Of Trust
related
$883,250 · Columbia State Bank
—
—
Lmd Partnership
—
Deed Of Trust
related
$515,000 · Whidbey Island Bank
—
—
Lmd
—
Deed Of Trust
related
$405,225 · Whidbey Island Bank
—
—
Lmd
—
Deed Of Trust
related
$515,409 · Whidbey Island Bank
—
—
Lmd
—
Deed Of Trust
related
$120,000 · Whidbey Island Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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