New search
Property profile & analytics
OFF-MARKET
Estimated value
$890,000
Turn key restaurants
423 Fairhaven Ave Burlington, WA 98233-1818
Entity Owned
1-yr Hold
Free & Clear
Property ID
US90-1210693
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1971
Total area
5,346 SF
Lot
0.62 ac (27,199 SF)
APN
4076-040-011-0004
UPID
US90-1210693
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
$890k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$671k
Blend (final)
Blend
$890k
Owner & transaction history
423 Fairhaven LLC · 1 yrs held
423 Fairhaven LLC
since 2024
Last sale
$888,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+23.6%
Auto repair, garage
$1.3M
+14.5%
Retail stores
$1.3M
+14.4%
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 Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington 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
$890,000
ML approach
$890,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,125,000
Current use
COMMERCIAL (GENERAL)
$1,390,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,290,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$1,285,000
Change: +14% · Conversion: Easy
OFFICE BUILDING
$1,225,000
Change: +9% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$955,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$890k
Range $801k – $979k · ±10% · vs last sale $888k (Aug 16 2024)
Last sale anchor
$888k
Aug 16 2024
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
$166 / 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
$5,582
Tax year 2023
Assessed value
$635,100
Assessed 2022
Previous assessed
$671,200
-5.4% YoY
Effective rate
0.88%
On assessed value
Assessed land
$411,300
Assessed improvement
$223,800
Land market value
$411,300
Improvement market value
$223,800
Total market value
$635,100
Applied tax rate
905.0000
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
1971
Heating
NONE
Stories
1
Total area
5,346 SF
Lot
0.62 ac (27,199 SF)
APN
4076-040-011-0004
UPID
US90-1210693
Jurisdiction
SKAGIT
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
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$955,000
RESTAURANT Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1971
Heating
NONE
Stories
1
Lot
0.62 ac
Current owner
From public records · entity-resolved
423 Fairhaven LLC
Entity
Free & Clear · 1 yrs held
Mailing address
11412 MICHAEL PL, BURLINGTON, WA 98233-8408
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2024
—
423 Fairhaven LLC
Nicholas R Crandall
Quit Claim Deed
related
—
Dec 1, 2022
$888,000
Nicholas R Crandall
Mei Fong Chinn
Warranty Deed
$577,000 · Heritage Southeast Bank
Jun 20, 2019
—
Mei-fong Chinn
Chinn Wallen L
Quit Claim Deed
related
—
Mar 17, 2017
—
Mei F Chinn
Chinn,mei F
Quit Claim Deed
related
—
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 423 Fairhaven Ave?
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.
