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Property profile & analytics
FOR LEASE
Industrial properties
12121 Northup Way, Bellevue, WA 98005
Entity Owned
4-yr Hold
Free & Clear
Property ID
US90-0729295
For Lease
1 / 2
$24 SF/Yr
12121 Northup Way, Bellevue, WA 98005
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
52,712 SF
Lot
2.16 ac (93,916 SF)
Zoning code
BR-R
APN
282505-9299
UPID
US90-0729295
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
-
Reflection by Diane Hair Salon
-
Corinne Bauer Skincare Medical Clinic Skin Care Clinic
-
Da Vinci Aesthetic Lounge Medical Clinic Skin Care Clinic
-
Bespoke Tint & PPF Interior Design Auto Repair Shop
-
Stargazers Soul Gallery Metaphysical Supply Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
3101 Northup Way LLC · 4 yrs held
3101 Northup Way LLC
since 2021
Last sale
$42.0M
4 recorded transactions
Zoning & alternative use
BR-R · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$151,445
Tax year 2022
Assessed value
$21,418,200
Assessed 2022
Previous assessed
$21,418,200
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$7,982,800
Assessed improvement
$13,435,400
Land market value
$7,982,800
Improvement market value
$13,435,400
Total market value
$21,418,200
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Total area
52,712 SF
Lot
2.16 ac (93,916 SF)
Zoning code
BR-R
APN
282505-9299
UPID
US90-0729295
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BR-R · Bellevue, WA
Zoning BR-R · permitted uses
BR-R · 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.
Building & site characteristics
From public records
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Lot
2.16 ac
Current owner
From public records · entity-resolved
3101 Northup Way LLC
Entity
Free & Clear · 4 yrs held
Mailing address
14400 NE BEL RED RD STE #204, BELLEVUE, WA 98007-3952
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2021
$42,000,000
3101 Northup Way LLC
This L Dew Properties LLC
Warranty Deed
—
Sep 30, 2021
—
Northup Center LLC
3101 Northup Way LLC
Quit Claim Deed
related
$36,000,000 · This L Dew Properties LLC
Dec 16, 2005
—
This L Dew Properties LLC
Lashley,john & Dawn
Quit Claim Deed
related
—
—
—
John R Lashley
—
Deed Of Trust
related
$4,750,000 · Safeco Life Insurance Co
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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