Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,560,000
Office buildings
15611 Bel Red Rd Bellevue, WA 98008-2311
Individually Owned
30-yr Hold
Free & Clear
Property ID
US90-1314100
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1980
Construction
WOOD
Total area
4,960 SF
Lot
2.4 ac (104,539 SF)
Zoning code
O
APN
067310-0085
UPID
US90-1314100
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
by Request
CAP Approach
CAP
$1.78M
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$1.56M
Owner & transaction history
Bellevue/redmond Professional · 30 yrs held
Bellevue/redmond Professional
since 1995
3 recorded transactions
Zoning & alternative use
O · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Office Districts provide areas for business, financial and professional service offices, located on arterial or commercial access streets. In the proximity of other major business and commercial districts, this district may serve as a buffer between residential areas and more intensive commercial districts
Zone name
Office
General category
COMMERCIAL
Zone area
447.30 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$2.5M
+16.0%
Auto repair, garage
$2.3M
+4.5%
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%
$1,925,000
6.5%
$1,775,000
7%
$1,650,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,180,000
Current use
COMMERCIAL (GENERAL)
$2,530,000
Change: +16% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,275,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$1,960,000
Change: -10% · Conversion: Easy
RETAIL STORES
$1,945,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$1.56M
Range $1.40M – $1.72M · ±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
$315 / 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
$59,153
Tax year 2022
Assessed value
$8,364,100
Assessed 2022
Previous assessed
$8,364,100
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$8,363,100
Assessed improvement
$1,000
Land market value
$8,363,100
Improvement market value
$1,000
Total market value
$8,364,100
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1980
Construction
WOOD
Heating
OTHER
Buildings
4
Stories
1
Total area
4,960 SF
Lot
2.4 ac (104,539 SF)
Zoning code
O
APN
067310-0085
UPID
US90-1314100
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
O · Bellevue, WAZoning O · permitted uses
O · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Office Districts provide areas for business, financial and professional service offices, located on arterial or commercial access streets. In the proximity of other major business and commercial districts, this district may serve as a buffer between residential areas and more intensive commercial districts
Zone name
Office
General category
COMMERCIAL
Zone area
447.30 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.0M
RETAIL STORES
Est. value
$1.9M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1980
Construction
WOOD
Heating
OTHER
Stories
1
Buildings
4
Lot
2.4 ac
Current owner
From public records · entity-resolved
Bellevue/redmond Professional
Individual
Free & Clear · 30 yrs held
Mailing address
15611 BEL RED RD STE B, BELLEVUE, WA 98008-2311
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1995
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 19, 2021
—
Bellevue Redmond Professional Cente
—
Deed
related
—
Oct 17, 2016
—
Bellevue Redmond Professional Cente
—
Deed
related
$250,000 · Us Bank NA
Nov 9, 1995
—
Bellevue/redmond Professional
Bolles,leo J & Margaret A
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.
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?”
You own 15611 Bel Red Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
