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Property profile & analytics
OFF-MARKET
Estimated value
$20,200,000
Commercial land
1445 120th NE Ave Bellevue, WA 98005-2127
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0998472
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
56,978 SF
Lot
3.43 ac (149,535 SF)
Zoning code
BR-OR-2
APN
109910-0005
UPID
US90-0998472
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
$20.20M
CAP Approach
CAP
$16.82M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$20.20M
Owner & transaction history
Are-seattle No 471 LLC · 2 yrs held
Are-seattle No 471 LLC
since 2024
Last sale
$20.2M
3 recorded transactions
Zoning & alternative use
BR-OR-2 · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the BelRed-OR-2 Land Use District is to provide an area for a mix of office, housing and retail uses, with office as the predominant use. The district is located within a node but outside the node’s core, and building heights provide for a transition between the node’s core and areas outside the node
Zone name
Bel Red Office Residential Node 2
General category
COMMERCIAL
Zone area
79.47 ac
Source
Realmo
Top alternative use upside
Restaurant
$30.2M
+4.1%
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
$20,200,000
ML approach
$20,200,000
CAP Approach
CAP Return
Estimation
6%
$18,215,000
6.5%
$16,815,000
7%
$15,615,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$29,045,000
Current use
RESTAURANT
$30,230,000
Change: +4% · Conversion: Difficult
AUTO REPAIR, GARAGE
$26,155,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$20.20M
Range $18.18M – $22.22M · ±10% · vs last sale $20.20M (Mar 21 2024)
Last sale anchor
$20.20M
Mar 21 2024
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
$355 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$21
Tax year 2024
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
56,978 SF
Lot
3.43 ac (149,535 SF)
Zoning code
BR-OR-2
APN
109910-0005
UPID
US90-0998472
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BR-OR-2 · Bellevue, WAZoning BR-OR-2 · permitted uses
BR-OR-2 · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the BelRed-OR-2 Land Use District is to provide an area for a mix of office, housing and retail uses, with office as the predominant use. The district is located within a node but outside the node’s core, and building heights provide for a transition between the node’s core and areas outside the node
Zone name
Bel Red Office Residential Node 2
General category
COMMERCIAL
Zone area
79.47 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$29.0M
RESTAURANT
Est. value
$30.2M
AUTO REPAIR, GARAGE
Est. value
$26.2M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1981
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
3.43 ac
Current owner
From public records · entity-resolved
Are-seattle No 471 LLC
Entity
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2024
—
Are-seattle No 471 LLC
City Of Bellevue
Quit Claim Deed
related
—
Jun 22, 2006
$20,200,000
Pine Forest Properties INC
1445-120th LLC
Warranty Deed
$20,500,000 · Prudential Insurance Co
—
—
1445-120th LLC
—
Deed Of Trust
related
$10,500,000 · Zions First National 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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