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Property profile & analytics
OFF-MARKET
Estimated value
$34,130,000
Retail space
15600 8th St Bellevue, WA 98008-3927
Individually Owned
17-yr Hold
~
Est. High Equity
Property ID
US90-1111889
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
128,020 SF
Lot
32.91 ac (1,433,367 SF)
Zoning code
CB
APN
262505-9123
UPID
US90-1111889
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
-
New York Cupcakes Bakery
-
Rice & Noodles Chinese Kitchen Restaurant
-
Guest Services (Bike/Boat/Book/etc) Store
-
Euro hair design Hair Salon
-
Washington Association of Mortgage Professionals Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$34.81M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$34.13M
Owner & transaction history
Terranomics Crossroads Assocs · 17 yrs held
Terranomics Crossroads Assocs
since 2008
2 recorded transactions
Zoning & alternative use
CB · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Community Business Districts serve community markets and provide areas for the location of services and retail outlets, other than Downtown.
Zone name
Community Business
General category
COMMERCIAL
Zone area
251.46 ac
Source
Realmo
Top alternative use upside
Office building
$56.2M
+12.0%
Medical building
$50.6M
+0.7%
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%
$37,705,000
6.5%
$34,805,000
7%
$32,320,000
Alternative Use
Use
Estimation
RETAIL STORES
$50,220,000
Current use
OFFICE BUILDING
$56,240,000
Change: +12% · Conversion: Easy
MEDICAL BUILDING
$50,570,000
Change: +1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$48,825,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$44,385,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$34.13M
Range $30.72M – $37.54M · ±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
$267 / 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
$1,099,090
Tax year 2024
Assessed value
$121,041,950
Assessed 2023
Previous assessed
$25,243,100
+379.5% YoY
Effective rate
0.91%
On assessed value
Assessed land
$72,220,650
Assessed improvement
$48,821,300
Land market value
$72,220,650
Improvement market value
$48,821,300
Total market value
$121,041,950
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
10
Stories
6
Units
185
Total area
128,020 SF
Lot
32.91 ac (1,433,367 SF)
Zoning code
CB
APN
262505-9123
UPID
US90-1111889
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CB · Bellevue, WAZoning CB · permitted uses
CB · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Community Business Districts serve community markets and provide areas for the location of services and retail outlets, other than Downtown.
Zone name
Community Business
General category
COMMERCIAL
Zone area
251.46 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$50.2M
OFFICE BUILDING
Est. value
$56.2M
MEDICAL BUILDING
Est. value
$50.6M
INDUSTRIAL (GENERAL)
Est. value
$48.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$44.4M
RETAIL STORES Current
OFFICE BUILDING
MEDICAL BUILDING
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
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
6
Buildings
10
Units
185
Lot
32.91 ac
Current owner
From public records · entity-resolved
Terranomics Crossroads Assocs
Individual
Mailing address
PO BOX 130339, CARLSBAD, CA 92013-0339
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 28, 2008
—
Terranomics Crossroads Assocs
—
Deed Of Trust
related
$10,000,000 · Metrovation Capital LLC
Dec 8, 1998
—
Quality Restuarants Northwest
—
Deed Of Trust
related
$5,200,000 · Chase Bank Of Texas
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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