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Property profile & analytics
OFF-MARKET
Warehouses
1509 134th NE Ave Bellevue, WA 98005
Entity Owned
~
Est. High Equity
Property ID
US90-0885997
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1966
Construction
STEEL FRAME
Total area
1,800 SF
Lot
0.36 ac (15,625 SF)
Zoning code
BR-RC-2
APN
067210-0006
UPID
US90-0885997
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
Bel Red South LLC
Bel Red South LLC
since 2026
6 recorded transactions
Zoning & alternative use
BR-RC-2 · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the BelRed-RC-2 Land Use District is to provide an area for a mix of housing, retail, office and service uses. 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 Residential Commercial Node 2
General category
COMMERCIAL
Zone area
46.04 ac
Source
Realmo
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
$13,834
Tax year 2022
Assessed value
$1,954,100
Assessed 2022
Previous assessed
$1,954,100
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$1,953,100
Assessed improvement
$1,000
Land market value
$1,953,100
Improvement market value
$1,000
Total market value
$1,954,100
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
1966
Construction
STEEL FRAME
Heating
NONE
Stories
1
Total area
1,800 SF
Lot
0.36 ac (15,625 SF)
Zoning code
BR-RC-2
APN
067210-0006
UPID
US90-0885997
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BR-RC-2 · Bellevue, WAZoning BR-RC-2 · permitted uses
BR-RC-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-RC-2 Land Use District is to provide an area for a mix of housing, retail, office and service uses. 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 Residential Commercial Node 2
General category
COMMERCIAL
Zone area
46.04 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1966
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
0.36 ac
Current owner
From public records · entity-resolved
Bel Red South LLC
Entity
Mailing address
511 BOREN AVE N STE #300, SEATTLE, WA 98109-5505
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 4, 2026
—
Bel Red South LLC
Bell 134th LLC
Quitclaim Deed
related
$48,800,000 · Goldman Sachs Bank USA
Dec 14, 2023
—
Bell 134th LLC
—
Deed
related
$6,284,509 · Washington Trust Bank
Feb 6, 2019
$2,525,000
Bell 134th LLC
Dahlgren Family L L C 4
Special Warranty Deed
$3,500,000 · Washington Trust Bank
May 2, 2006
—
Dahlgren Family LLC 4
Dahlgren Family Ptshp 4
Quit Claim Deed
related
—
May 19, 1995
—
Dahlgren Family Ptshp #4
Dahlgren,donald C
Quit Claim Deed
related
—
Dec 30, 1991
—
Donald C Dahlgren
Dahlgren,donald
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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