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Property profile & analytics
OFF-MARKET
Estimated value
$2,165,000
Medical Office Space
1551 116th NE Ave Bellevue, WA 98004-3814
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US90-0729301
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1974
Construction
WOOD
Total area
9,156 SF
Lot
1 ac (43,347 SF)
Zoning code
BR-MO
APN
292505-9310
UPID
US90-0729301
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
Current use
Occupant on record · Public records
-
Mariam Basma Totonchy Physician Medical Clinic
-
Annalisa Gorman, MD Physician Medical Clinic
-
Skin Surgery Center Physician Medical Clinic
-
Bellevue skin surgery center Pharmacy
-
Dr. Jack E. Sebben, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.29M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.17M
Owner & transaction history
Top X LLC · 10 yrs held
Top X LLC
since 2015
5 recorded transactions
Zoning & alternative use
BR-MO · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,480,000
6.5%
$2,290,000
7%
$2,125,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,590,000
Change: -1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,490,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,175,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$2.17M
Range $1.95M – $2.38M · ±10%
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
$236 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$40,477
Tax year 2022
Assessed value
$5,722,500
Assessed 2022
Previous assessed
$5,722,500
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$5,635,100
Assessed improvement
$87,400
Land market value
$5,635,100
Improvement market value
$87,400
Total market value
$5,722,500
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1974
Construction
WOOD
Heating
ELECTRIC
Cooling
CENTRAL
Stories
1
Total area
9,156 SF
Lot
1 ac (43,347 SF)
Zoning code
BR-MO
APN
292505-9310
UPID
US90-0729301
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BR-MO · Bellevue, WA
Zoning BR-MO · permitted uses
BR-MO · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bellevue. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$3.6M
INDUSTRIAL (GENERAL)
Est. value
$3.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.2M
RETAIL STORES
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1974
Construction
WOOD
Heating
ELECTRIC
Cooling
Yes
Stories
1
Lot
1 ac
Current owner
From public records · entity-resolved
Top X LLC
Entity
Mailing address
19532 SE 51ST ST, ISSAQUAH, WA 98027-9327
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2015
$4,650,000
Top X LLC
Phd LLC
Warranty Deed
—
Nov 30, 2006
$2,500,000
Phd LLC
1551 Building LLC
Warranty Deed
$2,250,000 · Lehman Brothers Bank Fsb
Mar 14, 2006
—
1551 Building LLC
Berner,carl F & Karen N
Quit Claim Deed
related
—
Jan 3, 2003
—
1551 Building LLC
Berner,carl F & Karen N
Quit Claim Deed
related
—
May 5, 1992
—
Carl F Berner
Berner,rosemary
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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