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Property profile & analytics
OFF-MARKET
Medical Office Space
14037 Bel Red Rd, Bellevue, WA 98007-3909
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-1140604
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1951
Construction
WOOD
Total area
2,240 SF
Lot
0.47 ac (20,473 SF)
Zoning code
MI
APN
272505-9022
UPID
US90-1140604
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Lc2 LLC · 1 yrs held
Lc2 LLC
since 2025
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
MI · 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
—
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
$6,807
Tax year 2022
Assessed value
$960,200
Assessed 2022
Previous assessed
$960,200
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$921,200
Assessed improvement
$39,000
Land market value
$921,200
Improvement market value
$39,000
Total market value
$960,200
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
DENTAL BUILDING
Status
Off-Market
Year built
1951
Construction
WOOD
Heating
FORCED AIR
Stories
1
Bathrooms
2
Total area
2,240 SF
Lot
0.47 ac (20,473 SF)
Zoning code
MI
APN
272505-9022
UPID
US90-1140604
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MI · Bellevue, WA
Zoning MI · permitted uses
MI · 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
1951
Construction
WOOD
Heating
FORCED AIR
Stories
1
Bathrooms
2
Lot
0.47 ac
Current owner
From public records · entity-resolved
Lc2 LLC
Entity
Mailing address
4127 37TH AVE SW, SEATTLE, WA 98126-2623
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2025
$1,350,000
Lc2 LLC
B&e Fong LLC
Warranty Deed
$850,000 · O Bee Cu
Jul 20, 2016
—
Bm Fong PLLC
—
Deed
related
$430,000 · * Other Institutional Lenders
Mar 3, 2014
—
B & E Fong LLC
Fong,brian & Erin
Quit Claim Deed
related
—
Dec 31, 2013
$631,000
Brian Fong
Nam Hyoung Kim
Warranty Deed
$417,000 · Cobalt Mortgage INC
Sep 28, 2009
—
Mystic Lake LLC
Mystic Lake Partners
Quit Claim Deed
related
—
Jan 29, 2007
$870,000
Nam H Kim
Mendoza,jonathan
Warranty Deed
$559,000 · Unibank
Nov 22, 2006
—
Jonathan Mendoza
—
Trustees Deed
related
$99,000 · Jason M & Tammy S Miller
Feb 15, 2005
$550,000
Jonathan Mendoza
Raymundo Olivas
Warranty Deed
$440,000 · Long Beach Mortgage Co
Sep 27, 2002
$349,950
Raymundo Olivas
Peicu,mihai S & Nobuko
Grant Deed
$280,000 · Long Beach Mortgage Co
Sep 27, 2002
—
Raymundo Olivas
Olivas,loida
Quit Claim Deed
related
—
May 3, 2000
$281,100
Mihai S Peicu
Ottinger Trust
Grant Deed
$252,990 · Eagle Home Mortgage Co
—
—
Nam H Kim
—
Deed Of Trust
related
$559,000 · Unibank
—
—
Bm Fong PLLC
—
Deed Of Trust
related
$430,000 · * Other Institutional Lenders
—
—
Mihai S Peicu
—
Deed Of Trust
related
$35,000 · Citibank Fsb
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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