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Property profile & analytics
OFF-MARKET
Estimated value
$1,080,000
Turn key restaurants
3365 Fisherman Bay Rd Lopez Island, WA 98261-8665
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-0595659
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1977
Total area
5,737 SF
Lot
0.47 ac (20,473 SF)
APN
252712-001-000
UPID
US90-0595659
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
-
The Galley Restaurant and Lounge Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.15M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.08M
Owner & transaction history
Fishermans Bay R & E Hldgs LLC · 6 yrs held
Fishermans Bay R & E Hldgs LLC
since 2020
Last sale
$995,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.8M
+82.0%
Commercial (general)
$1.4M
+39.4%
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 Lopez Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lopez Island 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
$1,175,000
ML approach
$1,150,000
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
$1,770,000
Change: +82% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,355,000
Change: +39% · Conversion: Easy
RETAIL STORES
$845,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$1.08M
Range $972k – $1.19M · ±10% · vs last sale $995k (Jan 24 2020)
Last sale anchor
$995k
Jan 24 2020
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
$188 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$5,129
Tax year 2023
Assessed value
$782,530
Assessed 2022
Previous assessed
$964,830
-18.9% YoY
Effective rate
0.66%
On assessed value
Assessed land
$272,270
Assessed improvement
$510,260
Land market value
$272,270
Improvement market value
$510,260
Total market value
$782,530
Applied tax rate
445.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1977
Heating
HEAT PUMP
Stories
1
Bathrooms
1
Total area
5,737 SF
Lot
0.47 ac (20,473 SF)
APN
252712-001-000
UPID
US90-0595659
Jurisdiction
SAN JUAN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$975,000
OFFICE BUILDING
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES
Est. value
$845,000
RESTAURANT Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1977
Heating
HEAT PUMP
Stories
1
Bathrooms
1
Lot
0.47 ac
Current owner
From public records · entity-resolved
Fishermans Bay R & E Hldgs LLC
Entity
Mailing address
645 NW SKYLINE BLVD, PORTLAND, OR 97229-6813
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 24, 2020
$995,000
Fishermans Bay R & E Hldgs LLC
Jeffrey S Nichols
Warranty Deed
—
—
—
Jeffrey S Nichols
—
Deed Of Trust
related
$469,174 · Whidbey Island Bank
—
—
Jeffery S Nichols
—
Deed Of Trust
related
$100,000 · Whidbey Island Bank
—
—
Jeffrey S Nichols
—
Deed Of Trust
related
$35,000 · Bergis Robert R Trust (pt)
—
—
Jeffrey S Nichols
—
Deed Of Trust
related
$30,000 · 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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