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Property profile & analytics
FOR LEASE
Office buildings
16701 Cleveland St Redmond, WA 98052
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-0102015
For Lease
$1,515,000
16701 Cleveland St, Redmond, WA 98052
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,264 SF
Lot
0.71 ac (31,000 SF)
Zoning code
AP
APN
122505-9082
UPID
US90-0102015
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
-
Shimabuka-Lee Stacia Dental Office
-
Mary's Family Medicine Inc Medical Clinic
-
Redmond Foot & Ankle Medical Clinic
-
Joe's Plumbing & Heating Plumbing Service General Contractor
-
Redmond Senior Health Center Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.52M
Owner & transaction history
Clpf 16701 Cleveland Street Ll · 6 yrs held
Clpf 16701 Cleveland Street Ll
since 2019
7 recorded transactions
Zoning & alternative use
AP · Redmond, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$134 / 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
$36,431
Tax year 2022
Assessed value
$4,961,000
Assessed 2022
Previous assessed
$4,961,000
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$4,960,000
Assessed improvement
$1,000
Land market value
$4,960,000
Improvement market value
$1,000
Total market value
$4,961,000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Total area
11,264 SF
Lot
0.71 ac (31,000 SF)
Zoning code
AP
APN
122505-9082
UPID
US90-0102015
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
AP · Redmond, WA
Zoning AP · permitted uses
AP · Redmond, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Redmond. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Lot
0.71 ac
Current owner
From public records · entity-resolved
Clpf 16701 Cleveland Street Ll
Individual
Mailing address
601 S FIGUEROA ST STE #3600, LOS ANGELES, CA 90017-5741
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
Dec 20, 2019
$6,000,000
Clpf 16701 Cleveland Street Ll
Fariway Prop Mgmt LLC
Warranty Deed
—
Mar 28, 2005
—
Fairway Property Management LLC
Ronald E Frost
Quit Claim Deed
related
$1,840,000 · Us Bank NA
Dec 7, 2004
$2,675,000
Ronald E Frost
Bloch Properties LLC
Warranty Deed
$1,840,000 · Us Bank NA
Oct 13, 1997
$1,170,000
Bloch Properties LLC
Boshaw,catherine K
Grant Deed
—
Oct 21, 1996
—
Catherine K Boshaw
Fairway Building
Quit Claim Deed
related
—
Jun 28, 1991
$258,331
Bldg Fairway
Town Center Asso
Grant Deed
—
—
—
Block Properties LLC
—
Deed Of Trust
related
$100,000 · Us Bank Trust NA
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?”
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