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Property profile & analytics
OFF-MARKET
Estimated value
$7,370,000
Medical Office Space
1280 116th NE Ave Bellevue, WA 98004-3803
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0910551
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1980
Construction
WOOD
Total area
15,480 SF
Lot
0.54 ac (23,740 SF)
Zoning code
BR-MO-1
APN
282505-9287
UPID
US90-0910551
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
-
Archimedes D. Garbes, M.D. Physician
-
Dr. Hongxiu Ji, MD Physician
-
Dr. Andrew W. Hing, MD Physician
-
Dr. Brent D. Benjamin, MD Physician
-
Shneidman David MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.64M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.09M
Blend (final)
Blend
$7.37M
Owner & transaction history
Sand Holdings Estate LLC · 4 yrs held
Sand Holdings Estate LLC
since 2021
Last sale
$7.1M
7 recorded transactions
Zoning & alternative use
BR-MO-1 · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$8.5M
+38.8%
Restaurant
$8.2M
+34.3%
Commercial (general)
$7.9M
+29.1%
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
$7,650,000
ML approach
$7,635,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$6,115,000
Current use
OFFICE BUILDING
$8,490,000
Change: +39% · Conversion: Easy
RESTAURANT
$8,210,000
Change: +34% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,890,000
Change: +29% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,105,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$6,070,000
Change: -1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$5,905,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,365,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$7.37M
Range $6.63M – $8.11M · ±10% · vs last sale $7.10M (Dec 15 2021)
Last sale anchor
$7.10M
Dec 15 2021
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
$476 / 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
$40,148
Tax year 2022
Assessed value
$5,676,000
Assessed 2022
Previous assessed
$5,676,000
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$3,323,600
Assessed improvement
$2,352,400
Land market value
$3,323,600
Improvement market value
$2,352,400
Total market value
$5,676,000
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
Off-Market
Year built
1980
Construction
WOOD
Heating
FORCED AIR
Stories
2
Total area
15,480 SF
Lot
0.54 ac (23,740 SF)
Zoning code
BR-MO-1
APN
282505-9287
UPID
US90-0910551
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
$6.1M
OFFICE BUILDING
Est. value
$8.5M
RESTAURANT
Est. value
$8.2M
COMMERCIAL (GENERAL)
Est. value
$7.9M
AUTO REPAIR, GARAGE
Est. value
$7.1M
RETAIL STORES
Est. value
$6.1M
INDUSTRIAL (GENERAL)
Est. value
$5.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.4M
MEDICAL BUILDING Current
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1980
Construction
WOOD
Heating
FORCED AIR
Stories
2
Lot
0.54 ac
Current owner
From public records · entity-resolved
Sand Holdings Estate LLC
Entity
Mailing address
PO BOX 70367, SEATTLE, WA 98127-0367
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
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2021
$7,100,000
Sand Holdings Estate LLC
Pathology Building Associates LLC
Warranty Deed
—
Sep 12, 2018
—
Pathology Building Associates LLC
—
Deed
related
$450,000 · Banner Bank
Mar 1, 2002
$1,900,000
Pathology Building Associates
Kane,thomas E & Elsa V
Grant Deed
$1,398,417 · Frontier Bank
Sep 18, 1996
$1,080,000
Thomas A Kane
Mcdaniel,mary L
Grant Deed
$460,000 · Seafirst Bank
Feb 22, 1996
$3,244
Mary L Mcdaniel
Mcdaniel,mary L
Quit Claim Deed
related
—
Feb 22, 1996
$6,488
Mcdaniel Trust
Mcdaniel,mary L
Quit Claim Deed
related
—
Feb 22, 1996
$5,810
Mcdaniel Trust
Mcdaniel,mary L
Quit Claim Deed
related
—
Feb 22, 1996
$2,904
Cheryl L Scharlach
Mcdaniel,mary L
Quit Claim Deed
related
—
Feb 16, 1995
$3,744
Erin B Mcdaniel
Mcdaniel,mary L
Quit Claim Deed
related
—
Feb 16, 1995
$6,571
Reynolds Trust
Mcdaniel,mary L
Quit Claim Deed
related
—
Feb 16, 1995
$7,489
Mcdaniel Trust
Mcdaniel,mary L
Quit Claim Deed
related
—
Feb 16, 1995
$3,587
Cathleen A Reynolds
Mcdaniel,mary L
Quit Claim Deed
related
—
May 9, 1994
—
Cheryl L Scharlach
Mcdaniel,mary L
Quit Claim Deed
related
—
Jun 1, 1990
—
Mcdaniel,gary D&mary L
Pasadena Trust D
Grant Deed
related
—
—
—
Pathology Building Assoc LLC
—
Deed Of Trust
related
$202,688 · Frontier 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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