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Property profile & analytics
OFF-MARKET
Estimated value
$15,425,000
Hotels
10621 12th St, Bellevue, WA 98004-4327
Entity Owned
~
Est. High Equity
Property ID
US90-0684142
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
40,642 SF
Lot
1.23 ac (53,777 SF)
Zoning code
DNTN-MU
APN
072700-0080
UPID
US90-0684142
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
$9.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$20.10M
Blend (final)
Blend
$15.43M
Owner & transaction history
Srmperle LLC
Srmperle LLC
since 2025
Last sale
$20.1M
7 recorded transactions
Zoning & alternative use
DNTN-MU · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$22.3M
+63.8%
Restaurant
$21.6M
+58.5%
Commercial (general)
$20.7M
+52.3%
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 Bellevue submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bellevue 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
$9,495,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$13,605,000
Current use
OFFICE BUILDING
$22,285,000
Change: +64% · Conversion: Difficult
RESTAURANT
$21,560,000
Change: +58% · Conversion: Difficult
COMMERCIAL (GENERAL)
$20,720,000
Change: +52% · Conversion: Difficult
AUTO REPAIR, GARAGE
$18,660,000
Change: +37% · Conversion: Difficult
MEDICAL BUILDING
$16,055,000
Change: +18% · Conversion: Difficult
RETAIL STORES
$15,945,000
Change: +17% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$15,500,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$15.43M
Range $13.88M – $16.97M · ±10% · vs last sale $20.13M (Jun 5 2025)
Last sale anchor
$20.13M
Jun 5 2025
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
$380 / 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
$190,127
Tax year 2022
Assessed value
$26,889,500
Assessed 2022
Previous assessed
$26,889,500
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$26,888,500
Assessed improvement
$1,000
Land market value
$26,888,500
Improvement market value
$1,000
Total market value
$26,889,500
Applied tax rate
330.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
OTHER
Stories
4
Total area
40,642 SF
Lot
1.23 ac (53,777 SF)
Zoning code
DNTN-MU
APN
072700-0080
UPID
US90-0684142
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DNTN-MU · Bellevue, WA
Zoning DNTN-MU · permitted uses
DNTN-MU · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bellevue. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$13.6M
OFFICE BUILDING
Est. value
$22.3M
RESTAURANT
Est. value
$21.6M
COMMERCIAL (GENERAL)
Est. value
$20.7M
AUTO REPAIR, GARAGE
Est. value
$18.7M
MEDICAL BUILDING
Est. value
$16.1M
RETAIL STORES
Est. value
$15.9M
INDUSTRIAL (GENERAL)
Est. value
$15.5M
HOTEL/MOTEL Current
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (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
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
4
Lot
1.23 ac
Current owner
From public records · entity-resolved
Srmperle LLC
Entity
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 5, 2025
$20,125,000
Srmperle LLC
Srmsc2021 LLC
Bargain & Sale Deed
$73,400,000 · Mufg Bank Ltd
Jan 9, 2025
—
Srmsc2021 LLC
—
Deed
related
$14,100,000 · Goldman Sachs Bank USA
Jun 1, 2021
$30,000,000
Srmsc2021 LLC
Bellevue Silver Cloud Inn LLC
Warranty Deed
—
Dec 11, 2000
—
Bellevue Silver Cloud Inn
—
Deed Of Trust
related
$3,200,000 · Western Fsb
Jan 19, 1996
—
Bellevue Silver Cloud Inn LLC
Overlake Silver Cloud Motel LP
Quit Claim Deed
related
—
Jun 29, 1988
$1,750,000
Overlake Silver Cloud Inn
Wilson,alan F&do
Grant Deed
$3,097,500 · Seattle-first National Bank
—
—
Bellevue Silver Cloud Inn LLC
—
Deed Of Trust
related
$1,100,000 · Miscellaneous Ins Co
—
—
Bellevue Silver Cloud Inn LLC
—
Deed Of Trust
related
$4,380,584 · Nationwide Life Insurance Co
—
—
Bellevue Silver Cloud Inn LLC
—
Deed Of Trust
related
$5,500,000 · Nationwide Life Insurance Co
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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