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Property profile & analytics
OFF-MARKET
Industrial properties
1950 116th NE Ave, Bellevue, WA 98004-3019
Entity Owned
~
Est. High Equity
Property ID
US90-1573304
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,000 SF
Lot
1.4 ac (61,065 SF)
Zoning code
BR-MO
APN
282505-9277
UPID
US90-1573304
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
-
Spectrum Controls Engineer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
1950 Bellevue LLC
1950 Bellevue LLC
since 2025
Last sale
$8.0M
7 recorded transactions
Zoning & alternative use
BR-MO · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$56,150
Tax year 2022
Assessed value
$7,939,400
Assessed 2022
Previous assessed
$7,939,400
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$7,938,400
Assessed improvement
$1,000
Land market value
$7,938,400
Improvement market value
$1,000
Total market value
$7,939,400
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Total area
21,000 SF
Lot
1.4 ac (61,065 SF)
Zoning code
BR-MO
APN
282505-9277
UPID
US90-1573304
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BR-MO · Bellevue, WA
Zoning BR-MO · permitted uses
BR-MO · 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
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Lot
1.4 ac
Current owner
From public records · entity-resolved
1950 Bellevue LLC
Entity
Mailing address
PO BOX 1015, MERCER ISLAND, WA 98040-1015
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2025
$8,000,000
1950 Bellevue LLC
Cypress Point Building LLC
Warranty Deed
$5,000,000 · Cypress Point Building LLC
Jun 28, 2023
—
Cypress Point Building LLC
—
Deed
related
$4,000,000 · Washington Trust Bank
Dec 14, 2018
—
Cypress Point Building LLC
—
Deed
related
$1,000,000 · Washington Trust Bank
Jan 12, 2017
—
Cypress Point Building LLC
—
Deed
related
$1,250,000 · Wells Fargo Bk
Nov 2, 2004
—
Cypress Point Building LLC
Mandarano,francis G & Janet L
Warranty Deed
related
—
Nov 15, 1991
$1,050,000
Francis G Mandarano
Sterling Savings
Grant Deed
$1,302,000 · Seller
—
—
Cypress Point Building LLC
—
Loan Modification
related
$1,250,000 · Wells Fargo Bk
—
—
Francis G Mandarano
—
Deed Of Trust
related
$1,237,500 · Pacific Northwest Bank
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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