New search
Property profile & analytics
OFF-MARKET
Estimated value
$9,125,000
Office buildings
12835 Bel Red Rd, Bellevue, WA 98005-2631
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1515263
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1975
Construction
WOOD
Total area
18,387 SF
Lot
3.26 ac (141,800 SF)
Zoning code
R-3.5
APN
282505-9117
UPID
US90-1515263
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
$8.27M
CAP Approach
CAP
$6.59M
Comparable Approach
Comparable
$6.26M
Blend (final)
Blend
$9.13M
Owner & transaction history
E P Development LLC · 4 yrs held
E P Development LLC
since 2021
Last sale
$12.0M
7 recorded transactions
Zoning & alternative use
R-3.5 · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.8M
+55.2%
Commercial (general)
$9.4M
+49.1%
Auto repair, garage
$8.4M
+34.3%
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
$9,660,000
ML approach
$8,265,000
CAP Approach
CAP Return
Estimation
6%
$7,130,000
6.5%
$6,585,000
7%
$6,110,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$6,285,000
Current use
RESTAURANT
$9,755,000
Change: +55% · Conversion: Moderate
COMMERCIAL (GENERAL)
$9,375,000
Change: +49% · Conversion: Easy
AUTO REPAIR, GARAGE
$8,440,000
Change: +34% · Conversion: Difficult
MEDICAL BUILDING
$7,265,000
Change: +16% · Conversion: Easy
RETAIL STORES
$7,215,000
Change: +15% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$7,010,000
Change: +12% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,375,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$9.13M
Range $8.21M – $10.04M · ±10% · vs last sale $12.00M (Dec 22 2021)
Last sale anchor
$12.00M
Dec 22 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
$496 / 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
$42,084
Tax year 2022
Assessed value
$5,949,700
Assessed 2022
Previous assessed
$5,949,700
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$4,963,000
Assessed improvement
$986,700
Land market value
$4,963,000
Improvement market value
$986,700
Total market value
$5,949,700
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1975
Construction
WOOD
Heating
OTHER
Buildings
3
Stories
1
Total area
18,387 SF
Lot
3.26 ac (141,800 SF)
Zoning code
R-3.5
APN
282505-9117
UPID
US90-1515263
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
R-3.5 · Bellevue, WA
Zoning R-3.5 · permitted uses
R-3.5 · 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
OFFICE BUILDING Current
Est. value
$6.3M
RESTAURANT
Est. value
$9.8M
COMMERCIAL (GENERAL)
Est. value
$9.4M
AUTO REPAIR, GARAGE
Est. value
$8.4M
MEDICAL BUILDING
Est. value
$7.3M
RETAIL STORES
Est. value
$7.2M
INDUSTRIAL (GENERAL)
Est. value
$7.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.4M
OFFICE BUILDING 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
1975
Construction
WOOD
Heating
OTHER
Stories
1
Buildings
3
Lot
3.26 ac
Current owner
From public records · entity-resolved
E P Development LLC
Entity
Mailing address
411 1ST AVE S STE #650, SEATTLE, WA 98104-3807
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2021
$12,000,000
E P Development LLC
Executive Plaza Group LLC
Bargain And Sale Deed
$7,225,000 · Bank Of The West
Mar 16, 2020
—
Executive Plaza Group LLC
Ronald J Hallissey
Quit Claim Deed
related
—
Oct 31, 2013
—
Ronald J Hallissey
Swank,pearl P
Quit Claim Deed
related
—
Feb 1, 1996
$115,104
Swank-rudiger,donna
Azusa Pacific University
Trustees Deed
—
Feb 1, 1996
$23,860
Swank-rudiger,donna
Yoder,eunice M
Trustees Deed
—
Feb 1, 1996
$103,860
Swank-rudiger,donna
Johnson,evelyn
Trustees Deed
—
Feb 1, 1996
—
Azusa Pacific University
Yoder,eunice S
Grant Deed
related
—
Dec 29, 1994
$39,187
Azusa Pacific University
Yoder,eunice M
Grant Deed
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 12835 Bel Red Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
