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Property profile & analytics
OFF-MARKET
Estimated value
$8,810,000
Hotels
15805 37th St, Bellevue, WA 98006-1825
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US90-0714689
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1998
Construction
WOOD
Total area
84,427 SF
Lot
3.83 ac (166,963 SF)
Zoning code
OLB2
APN
112405-9118
UPID
US90-0714689
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
-
Larkspur Landing Bellevue Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.78M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.81M
Owner & transaction history
Ll Bellevue LP · 18 yrs held
Ll Bellevue LP
since 2007
7 recorded transactions
Zoning & alternative use
OLB2 · 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%
$10,585,000
6.5%
$9,775,000
7%
$9,075,000
Blend value · Realmo final
$8.81M
Range $7.93M – $9.69M · ±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
$104 / 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
$153,739
Tax year 2022
Assessed value
$21,742,500
Assessed 2022
Previous assessed
$21,742,500
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$6,678,500
Assessed improvement
$15,064,000
Land market value
$6,678,500
Improvement market value
$15,064,000
Total market value
$21,742,500
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1998
Construction
WOOD
Heating
HEAT PUMP
Stories
5
Total area
84,427 SF
Lot
3.83 ac (166,963 SF)
Zoning code
OLB2
APN
112405-9118
UPID
US90-0714689
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OLB2 · Bellevue, WA
Zoning OLB2 · permitted uses
OLB2 · 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.
Building & site characteristics
From public records
Year built
1998
Construction
WOOD
Heating
HEAT PUMP
Stories
5
Lot
3.83 ac
Current owner
From public records · entity-resolved
Ll Bellevue LP
Entity
Mailing address
44 HERSHA DR, HARRISBURG, PA 17102-2241
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2017
—
Ll Bellevue LP
—
Deed
related
—
Jul 11, 2007
$20,343,811
Ll Bellevue LP
Bellevue Studio Hotel Co LLC
Bargain And Sale Deed
$73,000,000 · Merrill Lynch Bank USA
Mar 3, 2000
—
Bellevue Studio Hotel Co INC
—
Deed Of Trust
related
$40,000,000 · Bank Of America NA Ttee
Nov 25, 1998
—
Bellevue Studio Hotel Co LLC
—
Deed Of Trust
related
$8,307,424 · Farallon Cw Hotel Investors Lc
Sep 24, 1997
$1,724,800
Bellevue Studio Hotel Co
South I-90 LP
Grant Deed
—
—
—
Bellevue Studio Hotel Co LLC
—
Deed Of Trust
related
$8,500,000 · Prudential Mortgage Capital Co
—
—
I-90 LP South
—
Deed Of Trust
related
$658,048 · Studio West Hotel Development
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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