1014 116th NE Ave Bellevue, WA 98004-4610
Entity Owned
19-yr Hold
~
Est. High Equity
Estimated value (blended)
$5.98M
Range $5.38M – $6.57M (±10%)
Property ID
US90-1773052
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1982
Construction
WOOD
Total area
23,300 SF
Lot
5.93 ac (258,311 SF)
Zoning code
BR-MO-1
APN
282505-9019
UPID
US90-1773052
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.34M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.98M
Owner & transaction history
since 2007
7 recorded transactions
Zoning & alternative use
BR-MO-1 · Bellevue, WA
Top alternative use upside
Medical building
$9.2M
+0.7%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 4 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$5.98M
Value range
$5.38M – $6.57M
±10% around blend
Estimated value / SF
$256 / SF
Confidence
Low
4 county-verified comps
Property data
88
Market benchmarks
33
Comparable evidence
40
$5.38M
blend $5.98M
$6.57M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
23,300 SF
Lot area
5.93 ac
Year built
1982
Stories
1
APN
282505-9019
Assessed value
$41,248,700
Annual tax
$291,648
3
Income approach: direct capitalization
Partial preview
Income approach indication
$6.34M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$6.86M
@ 6.5% CAP return
$6.34M
@ 7% CAP return
$5.88M
4
Sales comparison
Partial preview
Sales approach indication
$3.56M
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
19.2 mi away · 19,156 SF
22.6 mi away · 18,870 SF
22.7 mi away · 21,222 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$5.98M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 399 sales
$392
-35%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $256/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+1%
vs current-use indication
Retail Stores · current use
Industrial (general)
Apartment House (5+ Units)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$41.25M
Move the market yield to see immediate price impact.
Value / SF
$1,770
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$2.60M
$51.97M
$37.12M
$28.87M
$2.89M
$57.75M
$41.25M
$32.08M
$3.18M
$63.52M
$45.37M
$35.29M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$4.35M
16.3 mi · Dec 2025 · $148/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$291,648
Tax year 2022
Assessed value
$41,248,700
Assessed 2022
Previous assessed
$41,248,700
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$36,163,500
Assessed improvement
$5,085,200
Land market value
$36,163,500
Improvement market value
$5,085,200
Total market value
$41,248,700
Applied tax rate
330.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1982
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Buildings
4
Stories
1
Total area
23,300 SF
Lot
5.93 ac (258,311 SF)
Zoning code
BR-MO-1
APN
282505-9019
UPID
US90-1773052
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BR-MO-1 · Bellevue, WAZoning BR-MO-1 · permitted uses
BR-MO-1 · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1982
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
1
Buildings
4
Lot
5.93 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
BR-MO-1
Jurisdiction
Bellevue, WA
Recorded code
BR-MO-1
Ownership Intelligence
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Owner of record and activity signals are derived from public records and modeled classifications.
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