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    15405 37th St Bellevue, WA 98006-1772
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    Property profile & analytics

    15405 37th St, Bellevue, WA 98006-1772

    View on Map
    • Office buildings
    • 50,050 SF
    • 3.11 lot acres
    Off-Market
    Property ID
    US90-1749938
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $12,420,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • HaHu / High School
    • Zener & Company, PLLC / Accounting Firm / Tax Preparation
    • Aivia Software / (Bike/Boat/Book/etc) Store / Corporate Office
    • Cascade Equity Group / Real Estate Agency

    Property Details for 15405 37th St

    Year built
    1999
    Construction
    CONCRETE
    Lot size
    3.11 lot acres
    Zone code
    NMU
    Property type
    Office buildings
    APN
    220150-1408
    APU
    2201501408

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 31, 2025 — Mclean LLC — Deed · related $10.7M · Bank Of America NA
    Dec 19, 2014 $15,000,000 Mclean LLC 1-90 1997 An LLC Warranty Deed $11.3M · Columbia State Bank
    Jul 1, 1998 — I-90 1997 LLC — Deed Of Trust · related $6M · Washington Capital Joint Maste
    Feb 28, 1997 $1,300,000 I-90 1997 Mazda Motor Of America INC Grant Deed —
    — — New Northwest Broadcasters LLC — Deed Of Trust · related $23k · City Lending Services

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $19,770,000
      RETAIL STORES
      $19,635,000
      INDUSTRIAL (GENERAL)
      $19,090,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    King
    State
    Washington
    Longitude
    -122.134
    Latitude
    47.5771
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $145,240
    $6,088,500
    $14,452,000
    $20,540,500
    -
    $6,088,500
    $14,452,000
    $20,540,500

    Comparable in this City

    • Value Estimation
      $1,980,000
      167,422 SF

      3535 Factoria SE Blvd

      OFFICE BUILDING
      3535 Factoria SE Blvd, Bellevue, WA 98006-1290
      View Details
    • Value Estimation
      $2,460,000
      10,938 SF

      4140 Factoria SE Blvd

      OFFICE BUILDING
      4140 Factoria SE Blvd, Bellevue, WA 98006-5261
      View Details
    • Value Estimation
      $13,250,000
      71,036 SF

      14205 36th St

      OFFICE BUILDING
      14205 36th St, Bellevue, WA 98006-1596
      View Details
    • Value Estimation
      $9,055,000
      43,707 SF

      14405 36th St

      OFFICE BUILDING
      14405 36th St, Bellevue, WA 98006-1598
      View Details
    • Value Estimation
      $10,985,000
      44,381 SF

      4122 Factoria SE Blvd

      OFFICE BUILDING
      4122 Factoria SE Blvd, Bellevue, WA 98006-4200
      View Details
    • Value Estimation by Request
      1,344 SF

      5466 119th SE Ave

      OFFICE BUILDING
      5466 119th SE Ave, Bellevue, WA 98006-3304
      View Details

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      Multi-Tenant Commercial Asset For Sale

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      4684 152Nd Pl, Bellevue, WA 98006
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    Similar Nearby for Lease

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      7,243 SF

      Class A Office Space Available

      88,953 SF Class A office building in Bellevue, WA.
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      12,705 SF

      Bellevue Office Space with Access

      Office space with immediate access to I-405 and I-90.
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      5,577 SF

      Bellevue Office Space Sublease

      Office space for sublease in Bellevue, Washington.
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      5,747 SF

      Bellevue Office Space Available

      Office space available for lease in Bellevue, Washington.
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      2,179 SF

      Bellevue Office Space for Rent

      Office space with building signage, parking, and transit access.
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      Bellevue Office Space For Rent

      Office space with building signage and easy highway access.
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    Bellevue, WA 98006-1772
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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