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Property profile & analytics
OFF-MARKET
Estimated value
$1,015,000
Warehouses
2001 124th NE Ave Bellevue, WA 98005-2115
Individually Owned
14-yr Hold
Free & Clear
Property ID
US90-1706685
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,250 SF
Lot
5.57 ac (242,629 SF)
Zoning code
BR-OR
APN
282505-9236
UPID
US90-1706685
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$885k
Blend (final)
Blend
$1.02M
Owner & transaction history
Public Storage · 14 yrs held
Public Storage
since 2012
4 recorded transactions
Zoning & alternative use
BR-OR · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the BelRed-OR Land Use District is to provide an area for a mix of office, housing and retail uses, with office as the predominant use.
Zone name
Bel Red Office Residential
General category
COMMERCIAL
Zone area
69.67 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.02M
Range $914k – $1.12M · ±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
$90 / 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
$137,258
Tax year 2022
Assessed value
$19,411,300
Assessed 2022
Previous assessed
$19,411,300
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$19,410,300
Assessed improvement
$1,000
Land market value
$19,410,300
Improvement market value
$1,000
Total market value
$19,411,300
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Buildings
8
Stories
1
Total area
11,250 SF
Lot
5.57 ac (242,629 SF)
Zoning code
BR-OR
APN
282505-9236
UPID
US90-1706685
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BR-OR · Bellevue, WAZoning 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
Zoning description
The purpose of the BelRed-OR Land Use District is to provide an area for a mix of office, housing and retail uses, with office as the predominant use.
Zone name
Bel Red Office Residential
General category
COMMERCIAL
Zone area
69.67 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Buildings
8
Lot
5.57 ac
Current owner
From public records · entity-resolved
Public Storage
Individual
Free & Clear · 14 yrs held
Mailing address
PO BOX 25025, GLENDALE, CA 91221-5025
Ownership since
2012
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
May 10, 2012
—
Public Storage
Shurgard Storage Centers LLC
Quit Claim Deed
related
—
Jan 31, 2002
—
Shurgard Storage Centers INC
Ssc Property Holdings INC
Grant Deed
related
—
Jun 10, 1994
—
Ssc Property Holdings INC
Shurgard Storage
Grant Deed
related
—
Mar 7, 1994
—
Shurgard Storage Centers INC
Shurgard Income
Quit Claim Deed
related
—
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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