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Property profile & analytics
OFF-MARKET
Estimated value
$3,110,000
Retail space
15226 Bel Red Rd Redmond, WA 98052-5511
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1400332
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,088 SF
Lot
0.44 ac (19,166 SF)
Zoning code
OV2
APN
262505-9199
UPID
US90-1400332
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
$3.11M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.10M
Blend (final)
Blend
$3.11M
Owner & transaction history
Cash America West INC · 1 yrs held
Cash America West INC
since 2024
Last sale
$3.1M
1 recorded transaction
Zoning & alternative use
OV2 · Redmond, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.9M
+145.6%
Commercial (general)
$4.0M
+98.0%
Restaurant
$2.7M
+35.2%
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 Redmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redmond 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
$3,110,000
ML approach
$3,110,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,995,000
Current use
OFFICE BUILDING
$4,905,000
Change: +146% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,955,000
Change: +98% · Conversion: Easy
RESTAURANT
$2,700,000
Change: +35% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,335,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$2,010,000
Change: +1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,940,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$3.11M
Range $2.80M – $3.42M · ±10% · vs last sale $3.11M (Oct 16 2024)
Last sale anchor
$3.11M
Oct 16 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
$611 / 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
$16,250
Tax year 2024
Assessed value
$1,821,700
Assessed 2023
Previous assessed
$1,821,700
+0.0% YoY
Effective rate
0.89%
On assessed value
Assessed land
$1,820,700
Assessed improvement
$1,000
Land market value
$1,820,700
Improvement market value
$1,000
Total market value
$1,821,700
Applied tax rate
2,016.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
5,088 SF
Lot
0.44 ac (19,166 SF)
Zoning code
OV2
APN
262505-9199
UPID
US90-1400332
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OV2 · Redmond, WA
Zoning OV2 · permitted uses
OV2 · Redmond, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Redmond. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.0M
OFFICE BUILDING
Est. value
$4.9M
COMMERCIAL (GENERAL)
Est. value
$4.0M
RESTAURANT
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.0M
INDUSTRIAL (GENERAL)
Est. value
$1.9M
RETAIL STORES Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
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
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
0.44 ac
Current owner
From public records · entity-resolved
Cash America West INC
Entity
Free & Clear · 1 yrs held
Mailing address
1600 W 7TH ST, FORT WORTH, TX 76102-2504
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 16, 2024
$3,111,786
Cash America West INC
Realty Income Corporation
Warranty 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.
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