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Property profile & analytics
FOR SALE
Medical Office Space
11711 NE 12Th St Bellevue, WA 98004
Entity Owned
Free & Clear
Property ID
US90-0729294
For Sale
$7,750,000
11711 NE 12Th St, Bellevue, WA 98004
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Construction
WOOD
Total area
17,840 SF
Lot
0.64 ac (28,060 SF)
Zoning code
BR-MO-1
APN
282505-9196
UPID
US90-0729294
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
-
Dr. Richard E. Kaner, MD Geriatric Care Provider
-
Emily Taylor Physician
-
RET Physical Therapy & Healthcare Specialists Medical Clinic
-
Bellevue Professional Arts building Medical Clinic
-
Dr. Jihua Jia Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.07M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.51M
Blend (final)
Blend
$7.75M
Owner & transaction history
Alliace Realty Partners LLC
Alliace Realty Partners LLC
since 2026
3 recorded transactions
Zoning & alternative use
BR-MO-1 · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.5M
+34.3%
Commercial (general)
$9.1M
+29.1%
Auto repair, garage
$8.2M
+16.2%
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
$9,965,000
ML approach
$9,065,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$7,045,000
Current use
RESTAURANT
$9,465,000
Change: +34% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,095,000
Change: +29% · Conversion: Easy
AUTO REPAIR, GARAGE
$8,190,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$7,000,000
Change: -1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$6,805,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,185,000
Change: -12% · Conversion: Moderate
OFFICE BUILDING
$6,100,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$7.75M
Range $6.98M – $8.53M · ±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
$434 / 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
$48,604
Tax year 2022
Assessed value
$6,872,000
Assessed 2022
Previous assessed
$6,872,000
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$3,928,400
Assessed improvement
$2,943,600
Land market value
$3,928,400
Improvement market value
$2,943,600
Total market value
$6,872,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Sale
Year built
1986
Construction
WOOD
Heating
OTHER
Cooling
OTHER
Stories
3
Total area
17,840 SF
Lot
0.64 ac (28,060 SF)
Zoning code
BR-MO-1
APN
282505-9196
UPID
US90-0729294
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BR-MO-1 · Bellevue, WA
Zoning BR-MO-1 · permitted uses
BR-MO-1 · 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
MEDICAL BUILDING Current
Est. value
$7.0M
RESTAURANT
Est. value
$9.5M
COMMERCIAL (GENERAL)
Est. value
$9.1M
AUTO REPAIR, GARAGE
Est. value
$8.2M
RETAIL STORES
Est. value
$7.0M
INDUSTRIAL (GENERAL)
Est. value
$6.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.2M
OFFICE BUILDING
Est. value
$6.1M
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
1986
Construction
WOOD
Heating
OTHER
Cooling
Yes
Stories
3
Lot
0.64 ac
Current owner
From public records · entity-resolved
Alliace Realty Partners LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 1069, BELLEVUE, WA 98009-1069
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 12, 2026
—
Alliace Realty Partners LLC
Mimed LLC
Deed
—
Dec 10, 2021
$9,250,000
Mimed LLC
Bellevue Professional Arts Bldg Ass
Warranty Deed
$4,750,000 · First Financial Northwest Bank
—
—
Bellevue Professional Arts
—
Deed Of Trust
related
$1,600,000 · Seafirst Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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