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Property profile & analytics
OFF-MARKET
Estimated value
$5,890,000
Office buildings
11555 8th St, Bellevue, WA 98004-6447
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-0715412
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Construction
STEEL FRAME
Total area
16,356 SF
Lot
1.84 ac (80,000 SF)
Zoning code
O
APN
066287-0020
UPID
US90-0715412
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
-
Buyers Agent Real Estate Agency
-
Warrick Minnie Real Estate Agency
-
JK Law Group Law Firm
-
Sheetal Gandhi, RE/MAX Eastside Brokers, Inc. Real Estate Agency
-
Robin Mukherjee, Associates Network, Inc. Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.71M
CAP Approach
CAP
$5.86M
Comparable Approach
Comparable
$5.91M
Blend (final)
Blend
$5.89M
Owner & transaction history
Spence Group INC · 2 yrs held
Spence Group INC
since 2023
Last sale
$6.1M
6 recorded transactions
Zoning & alternative use
O · 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
Method
Estimation
Statistic approach
$5,660,000
ML approach
$5,705,000
CAP Approach
CAP Return
Estimation
6%
$6,345,000
6.5%
$5,855,000
7%
$5,435,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,970,000
Current use
RESTAURANT
$8,675,000
Change: -3% · Conversion: Moderate
COMMERCIAL (GENERAL)
$8,340,000
Change: -7% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,510,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$5.89M
Range $5.30M – $6.48M · ±10% · vs last sale $6.10M (Dec 15 2023)
Last sale anchor
$6.10M
Dec 15 2023
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
$360 / 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
$42,446
Tax year 2022
Assessed value
$6,001,000
Assessed 2022
Previous assessed
$6,001,000
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$6,000,000
Assessed improvement
$1,000
Land market value
$6,000,000
Improvement market value
$1,000
Total market value
$6,001,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
OTHER
Cooling
OTHER
Stories
2
Total area
16,356 SF
Lot
1.84 ac (80,000 SF)
Zoning code
O
APN
066287-0020
UPID
US90-0715412
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
O · Bellevue, WA
Zoning O · permitted uses
O · 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
OFFICE BUILDING Current
Est. value
$9.0M
RESTAURANT
Est. value
$8.7M
COMMERCIAL (GENERAL)
Est. value
$8.3M
AUTO REPAIR, GARAGE
Est. value
$7.5M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1987
Construction
STEEL FRAME
Heating
OTHER
Cooling
Yes
Stories
2
Lot
1.84 ac
Current owner
From public records · entity-resolved
Spence Group INC
Entity
Free & Clear · 2 yrs held
Mailing address
1400 ELLIOTT AVE W, SEATTLE, WA 98119-3124
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2023
$6,100,000
Spence Group INC
11555 Se 8th St LLC
Personal Representative Deed
—
Dec 28, 1999
—
11555 Se 8th St LLC
Eastside Brookers INC
Quit Claim Deed
related
—
Nov 30, 1998
$2,800,000
Eastside Brokers INC
Continental INC
Grant Deed
$1,520,000 · Zions First National Bank
—
—
Eastside Brokers INC
—
Deed Of Trust
related
$354,888 · Evergreenbank
—
—
Continental INC
—
Deed Of Trust
related
$1,350,000 · Continental Savings Bank
—
—
11555 Se 8th St LLC
—
Deed Of Trust
related
$2,750,000 · Bank Of America
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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