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Property profile & analytics
OFF-MARKET
Estimated value
$980,000
Hotels
11211 Main St, Bellevue, WA 98004-6405
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US90-1612471
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
17,376 SF
Lot
6.02 ac (262,231 SF)
Zoning code
OLB
APN
322505-9036
UPID
US90-1612471
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
-
Red Lion Hotel Bellevue Hotel & Motel
-
Confidential Psychiatric Services Medical Clinic
-
International Ballet Theatre Association / Organization
-
International Ballet Academy Theater & Performing Art Venue Vocational School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$980k
Owner & transaction history
Wig Properties LLC Bell · 11 yrs held
Wig Properties LLC Bell
since 2015
7 recorded transactions
Zoning & alternative use
OLB · Bellevue, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$56 / 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
$305,932
Tax year 2022
Assessed value
$43,269,100
Assessed 2022
Previous assessed
$43,269,100
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$43,268,100
Assessed improvement
$1,000
Land market value
$43,268,100
Improvement market value
$1,000
Total market value
$43,269,100
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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
5
Stories
2
Total area
17,376 SF
Lot
6.02 ac (262,231 SF)
Zoning code
OLB
APN
322505-9036
UPID
US90-1612471
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OLB · Bellevue, WA
Zoning OLB · permitted uses
OLB · 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.
Building & site characteristics
From public records
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Buildings
5
Lot
6.02 ac
Current owner
From public records · entity-resolved
Wig Properties LLC Bell
Entity
Mailing address
4811 134TH PL SE, BELLEVUE, WA 98006-3478
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 18, 2015
$34,658,907
Wig Properties LLC Bell
Whc823 LLC
Special Warranty Deed
$17,600,000 · Washington Federal
Jun 20, 2013
—
Whc823 LLC
—
Loan Modification
related
$55,000,000 · Wells Fargo Bank
Sep 12, 2011
—
Whc823 LLC
—
Deed Of Trust
related
$40,000,000 · Wells Fargo Bank
Apr 16, 2004
$11,500,000
Whc823 LLC
Medallion Bellevue Inn LLC
Grant Deed
—
Jan 22, 1991
—
Bellevue Inn
William A Bain &
Quit Claim Deed
related
—
—
—
Wig Properties LLC-bell
—
Loan Modification
related
$20,000,000 · Washington Fed'l Svgs
—
—
Medallion Bellevue INC LLC
—
Deed Of Trust
related
$10,150,000 · Archon Financial LP
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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