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Property profile & analytics
OFF-MARKET
Estimated value
$1,030,000
Industrial properties
2000 124th NE Ave, Bellevue, WA 98005-2117
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-0381571
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,186 SF
Lot
0.94 ac (40,973 SF)
Zoning code
BR-OR
APN
282505-9264
UPID
US90-0381571
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
-
Rebound Athletics LLC Gym & Fitness Center
-
Eastside Athletics Personal Training & Coaching Gym & Fitness Center
-
Tenet Concepts, LLC Social Service Agency
-
Ocean Tides Massage Alternative Medicine Practice Spa & Massage Center
-
Krav Maga Bel-Red Training Center Sports School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.03M
Owner & transaction history
City Of Bellevue · 3 yrs held
City Of Bellevue
since 2023
7 recorded transactions
Zoning & alternative use
BR-OR · 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
$68 / 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
$43,153
Tax year 2022
Assessed value
$6,101,100
Assessed 2022
Previous assessed
$6,101,100
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$3,892,400
Assessed improvement
$2,208,700
Land market value
$3,892,400
Improvement market value
$2,208,700
Total market value
$6,101,100
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
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
15,186 SF
Lot
0.94 ac (40,973 SF)
Zoning code
BR-OR
APN
282505-9264
UPID
US90-0381571
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BR-OR · Bellevue, WA
Zoning BR-OR · permitted uses
BR-OR · 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
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
0.94 ac
Current owner
From public records · entity-resolved
City Of Bellevue
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 90012, BELLEVUE, WA 98009-9012
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 4, 2023
—
City Of Bellevue
N124 Holdings LLC
Warranty Deed
—
Jan 10, 2020
—
N124 Holdings LLC
—
Deed
related
$15,400,000 · Boeing Emps Cu
Dec 16, 2019
$15,000,000
N124 Holdings LLC
Par 5 Bel-red Holdings LLC
Grant Deed
$7,325,933 · Par 5 Bel-red Holdings LLC
Aug 20, 2007
$9,500,000
Par 5 Bel-red Holdings LLC
Lwr Associates
Grant Deed
$6,000,000 · Symetra Life Insurance Co
—
—
Steve A Willard
—
Deed Of Trust
related
$350,000 · Seattle First Bank
—
—
N124 Holdings LLC
—
Deed Of Trust
related
$15,400,000 · Boeing Emps Cu
—
—
S Michael Rodgers
—
Deed Of Trust
related
$240,000 · Bank Of America
—
—
S Michael Roders
—
Deed Of Trust
related
$240,000 · Seattle First Bank
—
—
Steve A Willard
—
Deed Of Trust
related
$116,900 · Keycorp Mortgage INC
—
—
Par 5 Bel-red Holdings LLC
—
Deed Of Trust
related
$7,300,000 · Boeing Emps Cu
—
—
John C Radovich
—
Deed Of Trust
related
—
—
—
John C Radovich
—
Deed Of Trust
related
$975,000 · Seattle First Bank
—
—
Ronald B Douglass
—
Deed Of Trust
related
$850,000 · Frontier Bank
—
—
Ronald B Douglass
—
Deed Of Trust
related
$200,000 · Frontier 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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