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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2020 124Th Ave NE Bellevue, WA 98005

    • Industrial properties
    • 21,415 SF
    • 0.93 lot acres
    For Lease
    View listing
    $25 SF/Yr
    Last Sale
    May 04, 2023
    Value Estimations
    $670,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0441651
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Ariana Designs & Architecture / Interior Construction Contractor / Kitchen Furniture Store
    • Obot Electric / Contractor / Landscape Lighting Designer
    • Abby Romero - PNW Casas, LLC / Real Estate Agent
    • 7Glass - Mirror, Shower Door, Window Repair and Replacement / Glass & Mirror Shop / Glass Repair Service
    • Avant anti-aging center & Nouvelle beauty spa / Spa / Skin Care Clinic

    Property Details for 2020 124Th Ave NE

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.93 lot acres
    Property size
    21,415 SF
    Zone code
    BR-OR
    Property type
    Industrial properties
    APN
    282505-9263
    APU
    2825059263

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $575,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $767,000
      Market price range: $498k - $1.19M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    King
    State
    Washington
    Longitude
    -122.174
    Latitude
    47.6287
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $60,847
    $3,848,500
    $4,755,200
    $8,603,700
    -
    $3,848,500
    $4,755,200
    $8,603,700

    Comparable in this City

    • Value Estimation
      $355,000
      6,616 SF

      13622 20th St

      INDUSTRIAL (GENERAL) • 6,616 SF
      13622 20th St, Bellevue, WA 98005-4900
      View Details
    • Value Estimation
      $300,000
      9,800 SF

      13600 20th St

      INDUSTRIAL (GENERAL) • 9,800 SF
      13600 20th St, Bellevue, WA 98005-2000
      View Details
    • Value Estimation by Request
      21,280 SF

      12031 Northup Way

      INDUSTRIAL (GENERAL) • 21,280 SF
      12031 Northup Way, Bellevue, WA 98005-1916
      View Details
    • Value Estimation
      $550,000
      25,535 SF

      13570 Bel Red Rd

      INDUSTRIAL (GENERAL) • 25,535 SF
      13570 Bel Red Rd, Bellevue, WA 98005-2315
      View Details
    • Value Estimation by Request
      79,840 SF

      1239 120th NE Ave

      INDUSTRIAL (GENERAL) • 79,840 SF
      1239 120th NE Ave, Bellevue, WA 98005-2133
      View Details
    • Value Estimation
      $330,000
      17,680 SF

      13235 20th St

      INDUSTRIAL (GENERAL) • 17,680 SF
      13235 20th St, Bellevue, WA 98005-2009
      View Details

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      Redevelopment Opportunity in Bellevue, WA

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      Bellevue Office Space Available

      Office building located at 3 Lake Bellevue Dr, Bellevue, WA.
      3 Lake Bellevue Dr, Bellevue, WA 98005
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      Bellevue Medical Office Investment Opportunity

      Fully leased medical office building in prime Bellevue location.
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      Bellevue Transit-Oriented Development Site

      Prime 2.84-acre site near Wilburton Light Rail Station.
      605 119Th Ave NE, Bellevue, WA 98005
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    Similar Nearby for Lease

    • $25 SF/Yr
      1,816 SF

      Industrial Space Available in Bellevue

      1,816 SF industrial property for lease in Bellevue, WA.
      2020 124Th Ave NE, Bellevue, WA 98005
      View Details
    • $24 SF/Yr
      3,659 SF

      Bellevue Flex Space For Rent

      Flex space in Bel-Red Corridor with distribution potential.
      1600-1750 124Th Ave NE, Bellevue, WA 98005
      View Details
    • $2.00 SF/Yr
      2,016 SF

      Bellevue Flex/Industrial Space Available

      Flex/Industrial space available for lease in Bellevue, Washington.
      13107 NE 20Th St, Bellevue, WA 98005
      View Details
    • Contact for pricing
      12,000 SF

      Bellevue Warehouse with Fenced Yard

      12,000 SF warehouse with 26,000 SF fenced yard.
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      View Details
    • Contact for pricing
      9,984 SF

      Factoria Industrial Space Available

      9,484 SF industrial space in Bellevue's Factoria area.
      13427 SE 27Th Pl, Bellevue, WA 98005
      View Details
    • $15 SF/Yr
      5,280 SF

      Bellevue Shop/Manufacturing Space Available

      Rare shop/manufacturing space available for lease in Bellevue, Washington.
      1457 130Th Ave NE, Bellevue, WA 98005
      View Details
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    2020 124Th Ave NE
    Bellevue, WA 98005
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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