Entity Owned 
For Lease
1 / 6
$36 SF/Yr
15446 Bel Red Rd, Redmond, WA 98052
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1980
Construction
CONCRETE
Total area
55,125 SF
Lot
2 ac (86,934 SF)
Zoning code
OV1
APN
067310-0070
UPID
US90-1147644
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$19.08M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.71M
Owner & transaction history
since 2026
Last sale
$20.8M
7 recorded transactions
Zoning & alternative use
OV1 · Redmond, WA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 5 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$18.71M
Value range
$16.83M – $20.58M
±10% around blend
Estimated value / SF
$339 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
50
Income certainty
100
$16.83M
blend $18.71M
$20.58M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
55,125 SF
Lot area
2 ac
Year built
1980
Stories
4
APN
067310-0070
Zoning
OV1
Assessed value
$15,530,000
Annual tax
$111,600
3
Income approach: direct capitalization
Partial preview
Income approach indication
$19.08M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$20.67M
@ 6.5% CAP return
$19.08M
@ 7% CAP return
$17.72M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$111,600
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$16.77M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
5.9 mi away · 66,909 SF
9.5 mi away · 59,830 SF
9.7 mi away · 53,480 SF
9.8 mi away · 44,090 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$18.71M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 34 sales
$964
-65%
Submarket 34 sales
$964
-65%
County 676 sales
$377
-10%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $339/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$9.62M
Move the market yield to see immediate price impact.
Value / SF
$175
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$606k
$12.12M
$8.66M
$6.74M
$674k
$13.47M
$9.62M
$7.48M
$741k
$14.82M
$10.58M
$8.23M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$25.20M
3.7 mi · Nov 2025 · $361/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$111,600
Tax year 2022
Assessed value
$15,530,000
Assessed 2022
Previous assessed
$15,530,000
+0.0% YoY
Effective rate
0.72%
On assessed value
Assessed land
$7,389,300
Assessed improvement
$8,140,700
Land market value
$7,389,300
Improvement market value
$8,140,700
Total market value
$15,530,000
Applied tax rate
2,010.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1980
Construction
CONCRETE
Heating
OTHER
Cooling
OTHER
Stories
4
Total area
55,125 SF
Lot
2 ac (86,934 SF)
Zoning code
OV1
APN
067310-0070
UPID
US90-1147644
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OV1 · Redmond, WAZoning OV1 · permitted uses
OV1 · Redmond, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1980
Construction
CONCRETE
Heating
OTHER
Cooling
Yes
Stories
4
Lot
2 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
OV1
Jurisdiction
Redmond, WA
Recorded code
OV1
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for OV1 in Redmond, WA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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