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Property profile & analytics
OFF-MARKET
Estimated value
$2,460,000
Warehouses
1721 132nd NE Ave Bellevue, WA 98005-2246
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US90-1518893
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,918 SF
Lot
1.16 ac (50,560 SF)
Zoning code
BR-RC-1
APN
282505-9050
UPID
US90-1518893
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
-
Rafn Company Construction Company
-
Fastpitch Studio Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.74M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.46M
Owner & transaction history
Evergreen Building Partners LLC · 18 yrs held
Evergreen Building Partners LLC
since 2008
4 recorded transactions
Zoning & alternative use
BR-RC-1 · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the BelRed-RC-1 Land Use District is to provide an area for a mix of housing, retail, office and service uses within the core of a nodal area, with an emphasis on housing
Zone name
Bel Red Residential Commercial Node 1
General category
COMMERCIAL
Zone area
43.43 ac
Source
Realmo
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%
$2,970,000
6.5%
$2,740,000
7%
$2,545,000
Blend value · Realmo final
$2.46M
Range $2.21M – $2.71M · ±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
$155 / 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
$44,708
Tax year 2022
Assessed value
$6,321,000
Assessed 2022
Previous assessed
$6,321,000
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$6,320,000
Assessed improvement
$1,000
Land market value
$6,320,000
Improvement market value
$1,000
Total market value
$6,321,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
15,918 SF
Lot
1.16 ac (50,560 SF)
Zoning code
BR-RC-1
APN
282505-9050
UPID
US90-1518893
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BR-RC-1 · Bellevue, WAZoning BR-RC-1 · permitted uses
BR-RC-1 · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the BelRed-RC-1 Land Use District is to provide an area for a mix of housing, retail, office and service uses within the core of a nodal area, with an emphasis on housing
Zone name
Bel Red Residential Commercial Node 1
General category
COMMERCIAL
Zone area
43.43 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
1.16 ac
Current owner
From public records · entity-resolved
Evergreen Building Partners LLC
Entity
Mailing address
10335 NE SEABORN RD, BAINBRIDGE ISLAND, WA 98110-2102
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 10, 2017
—
Evergreen Building Ptrs LLC
—
Deed
related
$850,000 · Commerce Bk/wa
Jan 9, 2008
$3,724,000
Evergreen Building Partners LLC
John B Cahoon III
Warranty Deed
$2,340,000 · Washington Mutual Bank
Apr 27, 1988
$950,000
John B Cahoon III
Ba Mortgage & In
Grant Deed
—
—
—
Evergreen Building Ptrs LLC
—
Deed Of Trust
related
$850,000 · Commerce Bk/wa
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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