12020 32nd St Bellevue, WA 98005-4134
Entity Owned
23-yr Hold
~
Est. High Equity
Estimated value (blended)
$3.90M
Range $3.51M – $4.29M (±10%)
Property ID
US90-0204299
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Construction
STEEL FRAME
Total area
24,031 SF
Lot
3.53 ac (153,795 SF)
Zoning code
LI
APN
092405-9168
UPID
US90-0204299
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
-
Industrial Manufacturer Production Facility
-
General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.90M
Owner & transaction history
since 2002
5 recorded transactions
Zoning & alternative use
LI · Bellevue, WA
Zoning description
Light Industrial Districts provide for the location of a broad array of activities, including manufacturing, wholesale trade and distribution activities. Offices are discouraged unless they support the primary functions…
General category
INDUSTRIAL
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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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.90M
Value range
$3.51M – $4.29M
±10% around blend
Estimated value / SF
$162 / SF
Confidence
Low
3 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
30
$3.51M
blend $3.90M
$4.29M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
24,031 SF
Lot area
3.53 ac
Year built
2006
Stories
2
APN
092405-9168
Assessed value
$5,745,000
Annual tax
$40,637
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
$11.34M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
6.4 mi away · 17,352 SF
7.8 mi away · 27,315 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.90M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 18 sales
$342
-53%
Submarket 142 sales
$439
-63%
County 676 sales
$377
-57%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $162/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
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.
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Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$5.74M
Move the market yield to see immediate price impact.
Value / SF
$239
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
5.00%7.00%9.00%
$362k
$7.24M
$5.17M
$4.02M
$402k
$8.04M
$5.74M
$4.47M
$442k
$8.85M
$6.32M
$4.92M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$7.20M
2.6 mi · Nov 2025 · $253/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$40,637
Tax year 2022
Assessed value
$5,745,000
Assessed 2022
Previous assessed
$5,745,000
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$3,229,600
Assessed improvement
$2,515,400
Land market value
$3,229,600
Improvement market value
$2,515,400
Total market value
$5,745,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2006
Construction
STEEL FRAME
Heating
GAS
Cooling
AC.PACKAGE
Stories
2
Total area
24,031 SF
Lot
3.53 ac (153,795 SF)
Zoning code
LI
APN
092405-9168
UPID
US90-0204299
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LI · Bellevue, WAZoning LI · permitted uses
LI · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
Light Industrial Districts provide for the location of a broad array of activities, including manufacturing, wholesale trade and distribution activities. Offices are discouraged unless they support the primary functions…
General category
INDUSTRIAL
Building & site characteristics
From public records
Year built
2006
Construction
STEEL FRAME
Heating
GAS
Cooling
Yes
Stories
2
Lot
3.53 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
LI
INDUSTRIAL
Jurisdiction
Bellevue, WA
Recorded code
LI
Official district
LI
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for LI 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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