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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Turn key restaurants
701 Commercial Ave Anacortes, WA 98221-4110
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1123429
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1900
Total area
2,887 SF
Lot
0.08 ac (3,276 SF)
APN
4938-000-001-0000
UPID
US90-1123429
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
-
Island Cafe Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$530k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$545k
Blend (final)
Blend
$540k
Owner & transaction history
Marcelo LLC · 3 yrs held
Marcelo LLC
since 2023
Last sale
$540,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$790,000
+29.7%
Auto repair, garage
$695,000
+14.5%
Retail stores
$695,000
+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 Anacortes submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Anacortes 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
$485,000
ML approach
$530,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$610,000
Current use
COMMERCIAL (GENERAL)
$790,000
Change: +30% · Conversion: Easy
AUTO REPAIR, GARAGE
$695,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$695,000
Change: +14% · Conversion: Easy
OFFICE BUILDING
$665,000
Change: +9% · Conversion: Moderate
Blend value · Realmo final
$540k
Range $486k – $594k · ±10% · vs last sale $540k (Jul 24 2023)
Last sale anchor
$540k
Jul 24 2023
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
$187 / 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
$4,146
Tax year 2023
Assessed value
$558,900
Assessed 2022
Previous assessed
$512,400
+9.1% YoY
Effective rate
0.74%
On assessed value
Assessed land
$152,100
Assessed improvement
$406,800
Land market value
$152,100
Improvement market value
$406,800
Total market value
$558,900
Applied tax rate
900.0000
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
1900
Heating
NONE
Total area
2,887 SF
Lot
0.08 ac (3,276 SF)
APN
4938-000-001-0000
UPID
US90-1123429
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
$610,000
COMMERCIAL (GENERAL)
Est. value
$790,000
AUTO REPAIR, GARAGE
Est. value
$695,000
RETAIL STORES
Est. value
$695,000
OFFICE BUILDING
Est. value
$665,000
RESTAURANT Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1900
Heating
NONE
Lot
0.08 ac
Current owner
From public records · entity-resolved
Marcelo LLC
Entity
Ownership since
2023
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
Jul 24, 2023
—
Marcelo LLC
Marcelo Luevanos
Quit Claim Deed
related
—
Jul 14, 2023
—
Marcelo Luevanos
Luevanos Properties LLC
Intrafamily Transfer
related
—
Sep 28, 2007
—
Luevanos Properties LLC
King Squared LLC
Warranty Deed
related
—
Aug 14, 2007
$540,000
Luevanos Properties LLC
King Squared LLC
Warranty Deed
$494,505 · Skagit State Bank
Mar 17, 2006
$775,000
King Squared LLC
Griffin,phillip W & Pamela A
Warranty Deed
$750,000 · Skagit State Bank
Sep 12, 2003
$366,471
Phillip W Griffin
Rickdall,ralph L & Jeanne
Grant Deed
$265,000 · Ralph L & Jeanne Rickdall
—
—
Luevanos Properties LLC
—
Deed Of Trust
related
$494,505 · Skagit State Bank
—
—
Luevanos Properties LLC
—
Deed Of Trust
related
$229,000 · Rural Housing & Community Dev
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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