Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1624 135th NE Pl Bellevue, WA 98005-4580

    • Manufacturing properties
    • 3,640 SF
    • 0.98 lot acres
    OFF-MARKET
    Last Sale
    Feb 22, 2021
    $8,500,000
    Value Estimations
    $8,810,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0727843
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Manufacturing properties

    Property Details for 1624 135th NE Pl

    Year built
    1963
    Construction
    WOOD
    Lot size
    0.98 lot acres
    Property size
    3,640 SF
    Zone code
    BR-GC
    Property type
    Manufacturing properties
    APN
    272505-9217
    APU
    2725059217

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,160,000
      ML approach
      $9,090,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    King
    State
    Washington
    Longitude
    -122.161
    Latitude
    47.6251
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $47,507
    $4,278,800
    $2,438,100
    $6,716,900
    -
    $4,278,800
    $2,438,100
    $6,716,900

    Comparable in this City

    • Value Estimation
      $2,420,000
      25,440 SF

      1455 130th NE Ave

      MANUFACTURING (LIGHT) • 25,440 SF
      1455 130th NE Ave, Bellevue, WA 98005
      View Details
    • Value Estimation
      $1,445,000
      12,520 SF

      12880 Bel Red Rd

      MANUFACTURING (LIGHT) • 12,520 SF
      12880 Bel Red Rd, Bellevue, WA 98005-2695
      View Details
    • Value Estimation
      $910,000
      12,000 SF

      1700 132nd NE Ave

      MANUFACTURING (LIGHT) • 12,000 SF
      1700 132nd NE Ave, Bellevue, WA 98005-2231
      View Details
    • Value Estimation
      $21,475,000
      201,120 SF

      1150 124th NE Ave

      MANUFACTURING (LIGHT) • 201,120 SF
      1150 124th NE Ave, Bellevue, WA 98005-2102
      View Details
    • Value Estimation
      $555,000
      6,250 SF

      1431 130th NE Ave

      MANUFACTURING (LIGHT) • 6,250 SF
      1431 130th NE Ave, Bellevue, WA 98005
      View Details
    • Value Estimation
      $3,355,000
      36,034 SF

      13312 30th St

      MANUFACTURING (LIGHT) • 36,034 SF
      13312 30th St, Bellevue, WA 98005-4404
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,253 SF

      Bellevue Medical Corridor Office Space

      Class A office space in Bellevue Medical Corridor for sale.
      11711 NE 12Th St, Bellevue, WA 98005
      View Details
    • $7,100,000
      17,018 SF

      Bellevue Medical Office Building

      Prime Bellevue location, strong tenancy.
      2330 130Th Ave, Bellevue, WA 98005
      View Details
    • Contact for pricing

      Glendale Outparcel Townhome Development Site

      Development site for up to 16 townhomes in Bellevue, WA.
      13440 NE 8Th St, Bellevue, WA 98005
      View Details
    • Contact for pricing

      Bellevue Land Opportunity

      Land available in Bellevue, WA.
      139Th Ave SE, Bellevue, WA 98005
      View Details
    • $3,890,000
      5,590 SF

      Bellevue Office Building For Sale

      Office building with flexible lease terms and excellent connectivity.
      13417 20Th St, Bellevue, WA 98005
      View Details
    • Contact for pricing
      12,634 SF

      Bellevue Medical Office Building

      Fully Leased Medical Office, Prime Location
      11711 NE 12th St, Bellevue, WA 98005
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      1,816 SF

      Industrial Space Available in Bellevue

      1,816 SF industrial property for lease in Bellevue, WA.
      2020 124Th Ave NE, Bellevue, WA 98005
      View Details
    • $24 SF/Yr
      3,659 SF

      Bellevue Flex Space For Rent

      Flex space in Bel-Red Corridor with distribution potential.
      1600-1750 124Th Ave NE, Bellevue, WA 98005
      View Details
    • $2.00 SF/Yr
      2,016 SF

      Bellevue Flex/Industrial Space Available

      Flex/Industrial space available for lease in Bellevue, Washington.
      13107 NE 20Th St, Bellevue, WA 98005
      View Details
    • Contact for pricing
      12,000 SF

      Bellevue Warehouse with Fenced Yard

      12,000 SF warehouse with 26,000 SF fenced yard.
      1700 132Nd Ave NE, Bellevue, WA 98005
      View Details
    • Contact for pricing
      9,984 SF

      Factoria Industrial Space Available

      9,484 SF industrial space in Bellevue's Factoria area.
      13427 SE 27Th Pl, Bellevue, WA 98005
      View Details
    • Contact for pricing
      4,000 SF

      Bellevue Warehouse Space Available

      4,000 SF warehouse space for rent in Bellevue.
      1405-1407 132Nd Ave NE, Bellevue, WA 98005
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1624 135th NE Pl
    Bellevue, WA 98005-4580
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.