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Property profile & analytics
OFF-MARKET
Estimated value
$7,470,000
Warehouses
12802 Bel Red Rd, Bellevue, WA 98005-2603
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-1179845
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,892 SF
Lot
0.72 ac (31,363 SF)
Zoning code
BR-CR
APN
282505-9260
UPID
US90-1179845
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.73M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.47M
Owner & transaction history
Sc Bellevue Re LLC · 2 yrs held
Sc Bellevue Re LLC
since 2023
Last sale
$7.5M
4 recorded transactions
Zoning & alternative use
BR-CR · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.4M
+84.9%
Commercial (general)
$8.1M
+77.7%
Auto repair, garage
$7.3M
+60.0%
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
$7,150,000
ML approach
$7,730,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,560,000
Current use
RESTAURANT
$8,430,000
Change: +85% · Conversion: Difficult
COMMERCIAL (GENERAL)
$8,100,000
Change: +78% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,295,000
Change: +60% · Conversion: Easy
MEDICAL BUILDING
$6,275,000
Change: +38% · Conversion: Difficult
RETAIL STORES
$6,235,000
Change: +37% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$6,060,000
Change: +33% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$5,510,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$7.47M
Range $6.72M – $8.22M · ±10% · vs last sale $7.50M (Jul 26 2023)
Last sale anchor
$7.50M
Jul 26 2023
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
$470 / 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
$22,199
Tax year 2022
Assessed value
$3,137,300
Assessed 2022
Previous assessed
$3,137,300
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$3,136,300
Assessed improvement
$1,000
Land market value
$3,136,300
Improvement market value
$1,000
Total market value
$3,137,300
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
OTHER
Stories
1
Total area
15,892 SF
Lot
0.72 ac (31,363 SF)
Zoning code
BR-CR
APN
282505-9260
UPID
US90-1179845
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BR-CR · Bellevue, WA
Zoning BR-CR · permitted uses
BR-CR · 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
WAREHOUSE, STORAGE Current
Est. value
$4.6M
RESTAURANT
Est. value
$8.4M
COMMERCIAL (GENERAL)
Est. value
$8.1M
AUTO REPAIR, GARAGE
Est. value
$7.3M
MEDICAL BUILDING
Est. value
$6.3M
RETAIL STORES
Est. value
$6.2M
INDUSTRIAL (GENERAL)
Est. value
$6.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.5M
WAREHOUSE, STORAGE Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
1
Lot
0.72 ac
Current owner
From public records · entity-resolved
Sc Bellevue Re LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1611 SPG GATE LN UNIT #371507, LAS VEGAS, NV 89137-8881
Ownership since
2023
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
Jul 26, 2023
$7,500,000
Sc Bellevue Re LLC
Qg Bellevue LLC
Warranty Deed
—
Dec 18, 2012
—
Qg Bellevue LLC
Rec Bellevue LLC
Quit Claim Deed
related
—
Dec 11, 2009
—
Rec Bellevue LLC
R E Carpet LLC
Quit Claim Deed
related
—
Jun 24, 1988
—
R E Carpet
Goldfarb,michael
Quit Claim Deed
related
—
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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