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Property profile & analytics
FOR LEASE
Office buildings
11241 Willows Rd NE Redmond, WA 98052
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-0914578
No photos on file
For Lease
$24,080,000
11241 Willows Rd NE, Redmond, WA 98052
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Construction
CONCRETE
Total area
72,000 SF
Lot
4.2 ac (183,044 SF)
Zoning code
BP
APN
697950-0030
UPID
US90-0914578
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
-
Spark::red Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Zensa LLC Corporate Office
-
Otak Inc Engineering Consultant
-
Nexius Corporate Office
-
TTI Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$24.92M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$24.08M
Owner & transaction history
Quadrant Willows Owner LLC · 6 yrs held
Quadrant Willows Owner LLC
since 2019
7 recorded transactions
Zoning & alternative use
BP · Redmond, 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 Redmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redmond 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
by Request
CAP Approach
CAP Return
Estimation
6%
$26,990,000
6.5%
$24,915,000
7%
$23,135,000
Blend value · Realmo final
$24.08M
Range $21.67M – $26.49M · ±10%
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
$334 / 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
$157,710
Tax year 2022
Assessed value
$21,484,200
Assessed 2022
Previous assessed
$21,484,200
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$8,236,900
Assessed improvement
$13,247,300
Land market value
$8,236,900
Improvement market value
$13,247,300
Total market value
$21,484,200
Applied tax rate
2,025.0000
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
For Lease
Year built
1998
Construction
CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Total area
72,000 SF
Lot
4.2 ac (183,044 SF)
Zoning code
BP
APN
697950-0030
UPID
US90-0914578
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BP · Redmond, WA
Zoning BP · permitted uses
BP · Redmond, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Redmond. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1998
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
3
Lot
4.2 ac
Current owner
From public records · entity-resolved
Quadrant Willows Owner LLC
Entity
Mailing address
6645 185TH AVE NE STE #250, REDMOND, WA 98052-6432
Ownership since
2019
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
Nov 26, 2019
$36,821,250
Quadrant Willows Owner LLC
Ipx Willows Road Investors LLC
Special Warranty Deed
$51,500,000 · Bbva USA
Dec 28, 2016
—
Ipx Willows Road Investors LLC
—
Deed
related
$15,850,000 · M & T Bank
Mar 3, 2016
$13,547,500
Ipx Willows Road Investors LLC
Legacy Ptrs II Redmond Quadran
Grant Deed
—
Aug 15, 2007
—
Ptrs Quadran Legacy II
—
Deed Of Trust
related
$500,000,000 · Societe Generale
Jun 25, 2007
$16,617,000
Ptrs Quadran Legacy II
Wft Redmond LLC
Deed Of Trust
$15,075,000 · Societe Generale
Jan 4, 2006
$13,350,000
Wft Redmond LLC
Lorolive LLC
Warranty Deed
—
Jun 22, 1999
$13,133,812
Lorolive LLC
Quadrant Corp
Grant Deed
$6,700,000 · Woodmen Of The World Life Ins
—
—
Partners Qua Legacy II
—
Deed Of Trust
related
$2,502,500 · Mesa West R/e Income Fund
—
—
Ptrs Quadran Legacy II
—
Deed Of Trust
related
$105,000,000 · General Electric Capital Corp
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?”
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