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Property profile & analytics
OFF-MARKET
Estimated value
$5,980,000
Warehouses
11113 33rd Pl, Bellevue, WA 98004-1451
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0676884
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
19,720 SF
Lot
0.88 ac (38,526 SF)
Zoning code
LI
APN
202505-9247
UPID
US90-0676884
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
-
Homeneeds Inc Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.65M
Blend (final)
Blend
$5.98M
Owner & transaction history
Terreno Northup LLC · 4 yrs held
Terreno Northup LLC
since 2022
Last sale
$6.3M
5 recorded transactions
Zoning & alternative use
LI · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$9.1M
+60.0%
Medical building
$7.8M
+37.7%
Retail stores
$7.7M
+36.7%
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
$5,645,000
ML approach
$5,595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,660,000
Current use
AUTO REPAIR, GARAGE
$9,055,000
Change: +60% · Conversion: Easy
MEDICAL BUILDING
$7,790,000
Change: +38% · Conversion: Difficult
RETAIL STORES
$7,735,000
Change: +37% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$7,520,000
Change: +33% · Conversion: Easy
Blend value · Realmo final
$5.98M
Range $5.38M – $6.58M · ±10% · vs last sale $6.34M (Feb 24 2022)
Last sale anchor
$6.34M
Feb 24 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
$303 / 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
$18,541
Tax year 2022
Assessed value
$2,563,600
Assessed 2022
Previous assessed
$2,563,600
+0.0% YoY
Effective rate
0.72%
On assessed value
Assessed land
$1,810,700
Assessed improvement
$752,900
Land market value
$1,810,700
Improvement market value
$752,900
Total market value
$2,563,600
Applied tax rate
395.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
19,720 SF
Lot
0.88 ac (38,526 SF)
Zoning code
LI
APN
202505-9247
UPID
US90-0676884
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LI · Bellevue, WA
Zoning LI · permitted uses
LI · 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
WAREHOUSE, STORAGE Current
Est. value
$5.7M
AUTO REPAIR, GARAGE
Est. value
$9.1M
MEDICAL BUILDING
Est. value
$7.8M
RETAIL STORES
Est. value
$7.7M
INDUSTRIAL (GENERAL)
Est. value
$7.5M
WAREHOUSE, STORAGE Current
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
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
0.88 ac
Current owner
From public records · entity-resolved
Terreno Northup LLC
Entity
Mailing address
101 MONTGOMERY ST STE #200, SAN FRANCISCO, CA 94104-4124
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 24, 2022
$6,340,000
Terreno Northup LLC
Robert R Austin
Bargain And Sale Deed
—
Feb 1, 2022
—
Robert R Austin
Austin Family LLC
Intrafamily Transfer
related
—
Jan 15, 2010
—
Austin Family LP
—
Deed Of Trust
related
$1,298,059 · Symetra Life Insurance Co
—
—
Austin Family LLC
—
Deed Of Trust
related
$2,400,000 · Symetra Life Insurance Co
—
—
Austin Family LP
—
Deed Of Trust
related
$1,700,000 · Safeco 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.
Try Rey
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