New search
Property profile & analytics
OFF-MARKET
Estimated value
$11,670,000
Office buildings
1040 12th NW Ave, Issaquah, WA 98027-8929
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0516771
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
53,566 SF
Lot
4.05 ac (176,567 SF)
Zoning code
UC
APN
362930-0020
UPID
US90-0516771
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
$8.76M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.67M
Owner & transaction history
Summit Classical Christian School · 2 yrs held
Summit Classical Christian School
since 2023
Last sale
$12.3M
5 recorded transactions
Zoning & alternative use
UC · Issaquah, 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 Issaquah submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Issaquah 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
$11,370,000
ML approach
$8,755,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$11.67M
Range $10.50M – $12.84M · ±10% · vs last sale $12.25M (Dec 28 2023)
Last sale anchor
$12.25M
Dec 28 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
$218 / 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
$116,000
Tax year 2022
Assessed value
$15,299,800
Assessed 2022
Previous assessed
$15,299,800
+0.0% YoY
Effective rate
0.76%
On assessed value
Assessed land
$7,062,600
Assessed improvement
$8,237,200
Land market value
$7,062,600
Improvement market value
$8,237,200
Total market value
$15,299,800
Applied tax rate
1,405.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
OTHER
Stories
2
Total area
53,566 SF
Lot
4.05 ac (176,567 SF)
Zoning code
UC
APN
362930-0020
UPID
US90-0516771
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
UC · Issaquah, WA
Zoning UC · permitted uses
UC · Issaquah, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Issaquah. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
2
Lot
4.05 ac
Current owner
From public records · entity-resolved
Summit Classical Christian School
Individual
Mailing address
5130 164TH AVE SE, BELLEVUE, WA 98006-5703
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2023
$12,250,000
Summit Classical Christian School
Isqob LLC
Warranty Deed
$14,500,000 · Summit Classical Generational
Oct 1, 2018
$15,700,000
Isqob LLC
Redstone Newport LLC
Special Warranty Deed
$10,990,000 · Heritage Bank
Mar 19, 2002
$575,260
Issaquah Bank
12th & Newport Partners LLC
Grant Deed
related
—
Dec 15, 1999
$7,050,000
124th & Newport Partners LLC
Bellevue Newport Office Buildi
Grant Deed
$5,100,000 · Everett Mutual Savings Bank
—
—
12th & Newport Partners LLC
—
Deed Of Trust
related
$5,900,000 · Washington Mutual Fsb
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 1040 12th NW 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.
