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Property profile & analytics
OFF-MARKET
Estimated value
$705,000
Turn key restaurants
6151 Steilacoom SW Blvd Lakewood, WA 98499-2666
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-1466032
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,489 SF
Lot
0.42 ac (18,343 SF)
Zoning code
NC2
APN
220353069
UPID
US90-1466032
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
-
Burs Restaurant and Lounge Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$653k
Blend (final)
Blend
$705k
Owner & transaction history
Burs Building LLC · 7 yrs held
Burs Building LLC
since 2019
7 recorded transactions
Zoning & alternative use
NC2 · Lakewood, 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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$705k
Range $635k – $776k · ±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
$128 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$5,167
Tax year 2024
Assessed value
$423,700
Assessed 2024
Previous assessed
$423,700
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$407,200
Assessed improvement
$16,500
Land market value
$407,200
Improvement market value
$16,500
Total market value
$423,700
Applied tax rate
760.0000
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
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
RADIANT
Buildings
2
Stories
1
Units
1
Total area
5,489 SF
Lot
0.42 ac (18,343 SF)
Zoning code
NC2
APN
220353069
UPID
US90-1466032
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2 · Lakewood, WA
Zoning NC2 · permitted uses
NC2 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lakewood. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
RADIANT
Stories
1
Buildings
2
Units
1
Lot
0.42 ac
Current owner
From public records · entity-resolved
Burs Building LLC
Entity
Mailing address
6151 STEILACOOM BLVD SW, LAKEWOOD, WA 98499-2666
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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
May 29, 2019
—
Burs Building LLC
Lortim Ents LLC
Quit Claim Deed
related
$1,375,000 · Americas Cu
Apr 7, 2004
—
Lotrim Enterprises LLC
Burslem,wilfrid R & Verna D
Grant Deed
$787,500 · Pierce Commercial Bank
Jan 2, 2003
$959,804
Lortim Enterprises LLC
Burslem,wilfrid R & Verna D
Grant Deed
$650,000 · Wilfrid R & Verna D Burslem
—
—
Lortim Ents LLC
—
Deed Of Trust
related
$896,000 · Bank Of The Pacific
—
—
Lortim Ents LLC
—
Deed Of Trust
related
$300,000 · Bank Of The Pacific
—
—
Lortim Ents LLC
—
Deed Of Trust
related
$930,011 · Bank Of The Pacific
—
—
Lortim Ents LLC
—
Deed Of Trust
related
$214,392 · Bank Of The Pacific
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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