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Property profile & analytics
OFF-MARKET
Estimated value
$2,125,000
Medical Office Space
1240 116th NE Ave Bellevue, WA 98004-3815
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-1520399
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1980
Construction
WOOD
Total area
15,480 SF
Lot
0.49 ac (21,404 SF)
Zoning code
BR-MO-1
APN
282505-9018
UPID
US90-1520399
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
-
USA Vein Clinics Medical Clinic
-
USA Vascular Centers Physician Hospital
-
NeuroStim TMS Bellevue Medical Clinic
-
Bullis William J MD Physician
-
Mitchell David Cahn Physician Hospital
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.13M
Owner & transaction history
Rong Sheng LLC · 9 yrs held
Rong Sheng LLC
since 2016
7 recorded transactions
Zoning & alternative use
BR-MO-1 · 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
$137 / 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
$28,771
Tax year 2022
Assessed value
$4,066,800
Assessed 2022
Previous assessed
$4,066,800
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$2,996,500
Assessed improvement
$1,070,300
Land market value
$2,996,500
Improvement market value
$1,070,300
Total market value
$4,066,800
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
Off-Market
Year built
1980
Construction
WOOD
Heating
FORCED AIR
Stories
2
Total area
15,480 SF
Lot
0.49 ac (21,404 SF)
Zoning code
BR-MO-1
APN
282505-9018
UPID
US90-1520399
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.
Building & site characteristics
From public records
Year built
1980
Construction
WOOD
Heating
FORCED AIR
Stories
2
Lot
0.49 ac
Current owner
From public records · entity-resolved
Rong Sheng LLC
Entity
Mailing address
1022 KIRKLAND AVEB10, KIRKLAND, WA 98033-8135
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2022
—
Rang Sheng LLC
—
Deed
related
$1,200,000 · First Financial Northwest Bank
Nov 30, 2016
$4,000,000
Rong Sheng LLC
Jasper Partners LLC
Warranty Deed
$1,330,000 · First Financial Northwest Bank
Nov 1, 2005
$2,350,000
Jasper Partners LLC
D & I II LLC
Warranty Deed
—
Dec 1, 2004
—
D & I II LLC
Bitners,imantis I
Quit Claim Deed
related
—
Apr 11, 2001
$1,900,000
Ogor I Bitners
1240 Building INC
Grant Deed
—
Sep 12, 1995
—
1240 Building INC
Couch,sterling C & Kathleen B
Quit Claim Deed
related
—
Feb 9, 1994
$700,000
Sterling C Couch
Underwood,john W
Grant Deed
$675,000 · Seller
Feb 24, 1992
—
Underwood John Mary Ann
Lind Bldg Corp
Quit Claim Deed
related
—
—
—
Sterling C Couch
—
Deed Of Trust
related
$40,000 · Money Store Washington INC
—
—
1240 Building INC
—
Deed Of Trust
related
$800,000 · Cascade Bank
—
—
1240 Building INC
—
Deed Of Trust
related
$100,000 · Cascade Bank
—
—
Igor I Bitners
—
Deed Of Trust
related
$402,432 · Frontier Bank
—
—
1240 Building INC
—
Deed Of Trust
related
$590,000 · Southern Pacific Thrift & Loan
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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