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Property profile & analytics
OFF-MARKET
Estimated value
$5,260,000
Retail space
12200 Northup Way Bellevue, WA 98005-1933
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-2987733
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1996
Construction
FRAME
Total area
9,956 SF
Lot
1.03 ac (44,867 SF)
Zoning code
BR-GC
APN
282505-9280
UPID
US90-2987733
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
-
Road Runner Sports Clothing Store Running Store
-
Emerald City Custom Kitchens and Design Industrial Manufacturer Production Facility
-
Dwellings Tile, Stone & Design Hardware & Home Improvement Carpet & Flooring Store
-
Refined Woodworks Inc General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.98M
Blend (final)
Blend
$5.26M
Owner & transaction history
Praycm LLC · 4 yrs held
Praycm LLC
since 2022
Last sale
$6.7M
5 recorded transactions
Zoning & alternative use
BR-GC · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the BelRed-GC Land Use District is to provide an area for a wide variety of business activities that provide goods and services to other businesses and the general public.
Zone name
Bel Red General Commercial
General category
COMMERCIAL
Zone area
163.45 ac
Source
Realmo
Top alternative use upside
Restaurant
$5.3M
+35.2%
Commercial (general)
$5.1M
+30.0%
Auto repair, garage
$4.6M
+17.0%
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
$5,190,000
ML approach
$5,300,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,905,000
Current use
RESTAURANT
$5,280,000
Change: +35% · Conversion: Easy
COMMERCIAL (GENERAL)
$5,075,000
Change: +30% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,570,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$3,935,000
Change: +1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,795,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,450,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$3,405,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$5.26M
Range $4.73M – $5.79M · ±10% · vs last sale $6.70M (Jan 31 2022)
Last sale anchor
$6.70M
Jan 31 2022
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
$528 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$36,815
Tax year 2024
Assessed value
$4,487,700
Assessed 2023
Previous assessed
$4,487,700
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$4,486,700
Assessed improvement
$1,000
Land market value
$4,486,700
Improvement market value
$1,000
Total market value
$4,487,700
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1996
Construction
FRAME
Heating
STEAM
Stories
1
Total area
9,956 SF
Lot
1.03 ac (44,867 SF)
Zoning code
BR-GC
APN
282505-9280
UPID
US90-2987733
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BR-GC · Bellevue, WAZoning BR-GC · permitted uses
BR-GC · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the BelRed-GC Land Use District is to provide an area for a wide variety of business activities that provide goods and services to other businesses and the general public.
Zone name
Bel Red General Commercial
General category
COMMERCIAL
Zone area
163.45 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.9M
RESTAURANT
Est. value
$5.3M
COMMERCIAL (GENERAL)
Est. value
$5.1M
AUTO REPAIR, GARAGE
Est. value
$4.6M
MEDICAL BUILDING
Est. value
$3.9M
INDUSTRIAL (GENERAL)
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.5M
OFFICE BUILDING
Est. value
$3.4M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1996
Construction
FRAME
Heating
STEAM
Stories
1
Lot
1.03 ac
Current owner
From public records · entity-resolved
Praycm LLC
Entity
Mailing address
125 100TH AVE NE, BELLEVUE, WA 98004-5627
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2022
$6,700,000
Praycm LLC
Northup Way LLC
Bargain And Sale Deed
$3,150,000 · First Financial Northwest Bank
Nov 19, 2020
—
North Way LLC
—
Deed
related
$650,000 · Washington Trust Bank
Jan 31, 1996
$650,000
Northup Way LLC
Mulvany,douglas & Linda
Grant Deed
—
—
—
Northup Way LLC
—
Deed Of Trust
related
$1,100,000 · Sun Life Assurance Co
—
—
Northup Way LLC
—
Deed Of Trust
related
$1,200,000 · 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.
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