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Property profile & analytics
OFF-MARKET
Estimated value
$4,110,000
Retail space
16101 87th St Redmond, WA 98052-3505
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-2627832
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,275 SF
Lot
1.06 ac (46,371 SF)
Zoning code
TSQ
APN
022505-9213
UPID
US90-2627832
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
-
Friends Of Youth Charitable Organization Social Service Agency
-
The Landing / Friends of Youth Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.21M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.11M
Owner & transaction history
Gre Redmond 87 LLC · 7 yrs held
Gre Redmond 87 LLC
since 2019
7 recorded transactions
Zoning & alternative use
TSQ · Redmond, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Zoning Code | Redmond, WA
Top alternative use upside
Medical building
$6.0M
+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 Redmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redmond 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%
$4,555,000
6.5%
$4,205,000
7%
$3,905,000
Alternative Use
Use
Estimation
RETAIL STORES
$5,990,000
Current use
MEDICAL BUILDING
$6,035,000
Change: +1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$5,825,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,295,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$4.11M
Range $3.70M – $4.52M · ±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
$269 / 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
$63,936
Tax year 2022
Assessed value
$8,708,300
Assessed 2022
Previous assessed
$8,708,300
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$7,419,300
Assessed improvement
$1,289,000
Land market value
$7,419,300
Improvement market value
$1,289,000
Total market value
$8,708,300
Applied tax rate
2,025.0000
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
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
OTHER
Stories
1
Total area
15,275 SF
Lot
1.06 ac (46,371 SF)
Zoning code
TSQ
APN
022505-9213
UPID
US90-2627832
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TSQ · Redmond, WAZoning TSQ · permitted uses
TSQ · Redmond, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Zoning Code | Redmond, WA
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$6.0M
MEDICAL BUILDING
Est. value
$6.0M
INDUSTRIAL (GENERAL)
Est. value
$5.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.3M
RETAIL STORES Current
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
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
1
Lot
1.06 ac
Current owner
From public records · entity-resolved
Gre Redmond 87 LLC
Entity
Mailing address
10 INVERNESS DR E STE #250, ENGLEWOOD, CO 80112-5612
Ownership since
2019
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, 2019
$7,200,000
Gre Redmond 87 LLC
Lambert Properties LLC
Bargain And Sale Deed
$4,500,000 · M & T Bank
May 16, 2005
—
Lambert Properties LLC
Lambert,michael J & Kathleen
Quit Claim Deed
$700,000 · Washington Trust Bank
Jun 9, 1998
$2,125,000
Engstrom/lambert Real Est Pstp
Dahava Financial LP
Grant Deed
$1,897,000 · Us Bank
Dec 10, 1992
$370,000
Cascade Development Co
Engstrom,s D&n R
Grant Deed
—
Jul 15, 1988
$510,081
Steve D Engstrom
Best
Grant Deed
$459,100 · Seller
—
—
Engstrom/lambert Real Estate
—
Deed Of Trust
related
$2,250,000 · Washington Mutual Fsb
—
—
Cascade Development Co
—
Deed Of Trust
related
$1,100,000 · Individual
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
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