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Property profile & analytics
OFF-MARKET
Estimated value
$1,725,000
Office buildings
12838 40th Pl, Bellevue, WA 98006-1240
Individually Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-1770240
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1969
Construction
FRAME
Total area
9,440 SF
Lot
0.66 ac (28,815 SF)
Zoning code
CB
APN
162405-9249
UPID
US90-1770240
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
-
Bellevue Clubhouse Charitable Organization Social Service Agency
-
HERO House NW Charitable Organization Social Service Agency
-
3 G's Investment Properties Financial Advisor
-
Atomy Bellevue Center Cosmetic Store
-
PLUS United Group Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.73M
Owner & transaction history
Hero House · 9 yrs held
Hero House
since 2016
7 recorded transactions
Zoning & alternative use
CB · 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
$183 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$15,317
Tax year 2023
Assessed value
$1,875,600
Assessed 2023
Previous assessed
$987,900
+89.9% YoY
Effective rate
0.82%
On assessed value
Assessed land
$1,151,300
Assessed improvement
$724,300
Land market value
$1,151,300
Improvement market value
$724,300
Total market value
$1,875,600
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
1969
Construction
FRAME
Heating
OTHER
Cooling
OTHER
Stories
2
Total area
9,440 SF
Lot
0.66 ac (28,815 SF)
Zoning code
CB
APN
162405-9249
UPID
US90-1770240
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CB · Bellevue, WA
Zoning CB · permitted uses
CB · 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
1969
Construction
FRAME
Heating
OTHER
Cooling
Yes
Stories
2
Lot
0.66 ac
Current owner
From public records · entity-resolved
Hero House
Individual
Mailing address
12838 SE 40TH PL, BELLEVUE, WA 98006-1240
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2023
—
John M Pigott
—
Deed
related
$2,950,000 · Umpqua Bank
Sep 25, 2017
—
Hero House
—
Deed
related
$2,950,000 · Dana I Pigott
Dec 9, 2016
$2,895,611
Hero House
Evergreen Lake LLC
Warranty Deed
$2,950,000 · Dana I Pigott
Feb 18, 2009
—
Evergreen Lake LLC
12838 LLC
Quit Claim Deed
related
—
Aug 31, 2006
$2,300,000
12838 LLC
United Food & Coml Workers Un
Warranty Deed
$1,000,000 · Key Bank NA
—
—
Evergreen Lake LLC
—
Deed Of Trust
related
$1,300,000 · Cathay Bank
—
—
United Food
—
Deed Of Trust
related
$250,000 · Wells Fargo Bank
—
—
United Food
—
Deed Of Trust
related
$250,000 · Seafirst Bank
—
—
United Food
—
Deed Of Trust
related
$353,000 · Seafirst Bank
—
—
Hero House
—
Loan Modification
related
$2,950,000 · Dana I Pigott
—
—
United Food
—
Deed Of Trust
related
$140,000 · Bank Of America
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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