11405 2nd Pl Bellevue, WA 98004-5218
Entity Owned
2-yr Hold
~
Est. High Equity
Estimated value (blended)
$28.65M
Range $25.79M – $31.52M (±10%)
Implied cap rate
2.00%
In-place · NOI ÷ last sale
Property ID
US90-1500623
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2014
Construction
WOOD
Total area
75,405 SF
Lot
2.28 ac (99,254 SF)
Zoning code
OLB
APN
254320-0015
UPID
US90-1500623
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dental Office Pharmacy
-
Hotel & Motel
-
Interior Design Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$28.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$26.54M
Blend (final)
Blend
$28.65M
Owner & transaction history
since 2024
Last sale
$28.7M
5 recorded transactions
Zoning & alternative use
OLB · Bellevue, WA
Zoning description
Office and Limited Business Districts provide areas for the location of integrated complexes made up of offices, hotels or motels, eating establishments and retail sales accessory to permitted uses. Such districts are lo…
General category
COMMERCIAL
Top alternative use upside
Office building
$41.4M
+63.8%
Restaurant
$40.0M
+58.5%
Commercial (general)
$38.4M
+52.3%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
8 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$28.65M
Value range
$25.79M – $31.52M
±10% around blend
Estimated value / SF
$380 / SF
Confidence
None
1 county-verified comps
Property data
88
Market benchmarks
33
Comparable evidence
10
$25.79M
blend $28.65M
$31.52M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
75,405 SF
Lot area
2.28 ac
Year built
2014
Stories
5
APN
254320-0015
Assessed value
$24,135,500
Annual tax
$170,657
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$26.54M
Weighted, 0 comps · none confidence
Evidence
1 found
County-verified recorded sales
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$28.65M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 65 sales
$335
+13%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $380/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+64%
vs current-use indication
Restaurant
Commercial (general)
Auto Repair, Garage
Medical Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 1 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
2.00%
Implied, in-place cap rate for this hotels
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
NOI (est.)
$2.01M *
Last sale · Feb 2024
$28.65M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$100.28M
Move the market yield to see immediate price impact.
Value / SF
$1,330
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
1.50%2.00%2.50%
$1.80M
$120.33M
$90.25M
$72.20M
$2.01M
$133.70M
$100.28M
$80.22M
$2.21M
$147.07M
$110.30M
$88.24M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
1 found
None confidence · county-verified
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$170,657
Tax year 2022
Assessed value
$24,135,500
Assessed 2022
Previous assessed
$24,135,500
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$12,903,000
Assessed improvement
$11,232,500
Land market value
$12,903,000
Improvement market value
$11,232,500
Total market value
$24,135,500
Applied tax rate
330.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2014
Construction
WOOD
Heating
CENTRAL
Cooling
OTHER
Stories
5
Total area
75,405 SF
Lot
2.28 ac (99,254 SF)
Zoning code
OLB
APN
254320-0015
UPID
US90-1500623
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OLB · Bellevue, WAZoning OLB · permitted uses
OLB · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
Office and Limited Business Districts provide areas for the location of integrated complexes made up of offices, hotels or motels, eating establishments and retail sales accessory to permitted uses. Such districts are lo…
General category
COMMERCIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2014
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
5
Lot
2.28 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
OLB
COMMERCIAL
Jurisdiction
Bellevue, WA
Recorded code
OLB
Official district
OLB
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for OLB in Bellevue, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Cited sourceThe exact document the profile quotes
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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