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Property profile & analytics
OFF-MARKET
Estimated value
$2,470,000
Bars & Pubs
908 12th Ave Seattle, WA 98122-4412
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0173789
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,573 SF
Lot
0.15 ac (6,400 SF)
Zoning code
NC2P-75 (M1)
APN
225450-0610
UPID
US90-0173789
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
-
Medici Studios Film Production Television Studio
-
Chieftain Irish Pub & Restaurant Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.32M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.15M
Blend (final)
Blend
$2.47M
Owner & transaction history
Wen Chu Pong · 3 yrs held
Wen Chu Pong
since 2022
Last sale
$2.8M
7 recorded transactions
Zoning & alternative use
NC2P-75 (M1) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.0M
+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 Seattle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seattle 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
$2,275,000
ML approach
$2,315,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,875,000
Current use
COMMERCIAL (GENERAL)
$1,990,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$2.47M
Range $2.22M – $2.72M · ±10% · vs last sale $2.80M (Dec 9 2022)
Last sale anchor
$2.80M
Dec 9 2022
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
$691 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$17,339
Tax year 2022
Assessed value
$1,985,000
Assessed 2022
Previous assessed
$1,985,000
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$1,984,000
Assessed improvement
$1,000
Land market value
$1,984,000
Improvement market value
$1,000
Total market value
$1,985,000
Applied tax rate
10.0000
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
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
3,573 SF
Lot
0.15 ac (6,400 SF)
Zoning code
NC2P-75 (M1)
APN
225450-0610
UPID
US90-0173789
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2P-75 (M1) · Seattle, WA
Zoning NC2P-75 (M1) · permitted uses
NC2P-75 (M1) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Seattle. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$2.0M
RESTAURANT Current
COMMERCIAL (GENERAL)
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
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Wen Chu Pong
Individual
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2022
—
Wen Chu Pong
Chi Tsung Pong
Intrafamily Transfer
related
—
Dec 8, 2022
—
Chi Tsung Pong
Wen Chu Pong
Intrafamily Transfer
related
—
Dec 6, 2022
—
Wen Chu Pong
David Pong Yu
Intrafamily Transfer
related
—
Dec 2, 2022
—
David Pong Yu
Pwd LLC
Quit Claim Deed
related
—
Dec 13, 2018
—
Pwd LLC
—
Loan Modification
related
$2,000,000 · Banner Bk
Oct 23, 2007
—
Pwd LLC
—
Deed Of Trust
related
$4,000,000 · Banner Bank
May 6, 2005
$2,800,000
Pwd LLC
Twelfth & Marion Venture LLC
Grant Deed
—
Jun 10, 2003
—
Twelfth & Marion Venture LLC
Nine Twelve LLC
Quit Claim Deed
related
$1,627,500 · Viking Bank
Oct 19, 1999
$1,425,000
Nine Twelve LLC
I J Halfon Trustee
Grant Deed
$899,705 · Individual
Sep 14, 1994
$464,900
Carole M Cancler
Thurman Development Group INC
Grant Deed
$371,900 · Excel Mortgage Corp
—
—
Halpon I J
—
Deed Of Trust
related
$450,000 · Seafirst Bank
—
—
Nine Twelve LLC
—
Deed Of Trust
related
$562,729 · West Coast Theatre Corp
—
—
Nine Twelve LLC
—
Deed Of Trust
related
$690,000 · David Hoffnan
—
—
Nine Twelve LLC
—
Deed Of Trust
related
$100,000 · Edward Schacher
—
—
Nine Twelve LLC
—
Deed Of Trust
related
$150,000 · Activspace LLC
—
—
Nine Twelve LLC
—
Deed Of Trust
related
$100,000 · Activspace LLC
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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