2122 112th NE Ave Bellevue, WA 98004-2967
Entity Owned
6-yr Hold
~
Est. High Equity
Estimated value (blended)
$5.39M
Range $4.85M – $5.92M (±10%)
Implied cap rate
5.10%
In-place · NOI ÷ last sale
Property ID
US90-1351877
Property summary
AI-generated overview
This exceptional sublease opportunity presents 274 square feet of furnished office space in the desirable Belwood Building, located at 2122 112th Ave NE, Bellevue, WA 98004. Situated in King County, this Class C office space offers a convenient and efficient workspace. The sublease includes existing office furniture, such as two desks, monitors, a printer, a couch, and a mini-fridge, along with a private bathroom. Tenants will have full access to the office and its contents. The primary tenant's presence is minimal, primarily for mail collection. While phone and internet services are the tenant's responsibility, this fully furnished space offers immediate occupancy and significant cost savings. The annual rent is $22 per square foot if paid in full upfront at lease signing
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1977
Construction
WOOD
Total area
11,820 SF
Lot
1.02 ac (44,525 SF)
Zoning code
O
APN
242770-0020
UPID
US90-1351877
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Physician Medical Clinic
-
Gym & Fitness Center
-
Computer & Electronic Repair Tech Support Center
-
IT Consulting Firm (Bike/Boat/Book/etc) Store
-
Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.35M
CAP Approach
CAP
$4.23M
Comparable Approach
Comparable
$5.18M
Blend (final)
Blend
$5.39M
Owner & transaction history
since 2020
Last sale
$5.4M
4 recorded transactions
Zoning & alternative use
O · Bellevue, WA
Zoning description
Office Districts provide areas for business, financial and professional service offices, located on arterial or commercial access streets. In the proximity of other major business and commercial districts, this district…
General category
COMMERCIAL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 7 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$5.39M
Value range
$4.85M – $5.92M
±10% around blend
Estimated value / SF
$456 / SF
Confidence
High
7 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
70
$4.85M
blend $5.39M
$5.92M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
11,820 SF
Lot area
1.02 ac
Year built
1977
Stories
2
APN
242770-0020
Assessed value
$5,257,700
Annual tax
$37,191
3
Income approach: direct capitalization
Partial preview
Income approach indication
$4.23M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$4.59M
@ 6.5% CAP return
$4.23M
@ 7% CAP return
$3.93M
4
Sales comparison
Partial preview
Sales approach indication
$4.35M
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
5.7 mi away · 12,680 SF
6.9 mi away · 11,368 SF
7.3 mi away · 9,048 SF
9.2 mi away · 11,595 SF
9.3 mi away · 12,970 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$5.39M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 27 sales
$548
-17%
Submarket 142 sales
$439
+4%
County 676 sales
$377
+21%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $456/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
5.10%
Implied, in-place cap rate for this office buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.10%
9.0%
NOI (est.)
$375k *
Last sale · Feb 2020
$5.35M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$7.34M
Move the market yield to see immediate price impact.
Value / SF
$621
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.60%5.10%5.60%
$337k
$7.33M
$6.61M
$6.02M
$375k
$8.14M
$7.34M
$6.69M
$412k
$8.96M
$8.08M
$7.36M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$4.30M
3.8 mi · Oct 2025 · $353/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$37,191
Tax year 2022
Assessed value
$5,257,700
Assessed 2022
Previous assessed
$5,257,700
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$4,229,800
Assessed improvement
$1,027,900
Land market value
$4,229,800
Improvement market value
$1,027,900
Total market value
$5,257,700
Applied tax rate
330.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1977
Construction
WOOD
Heating
OTHER
Cooling
OTHER
Stories
2
Total area
11,820 SF
Lot
1.02 ac (44,525 SF)
Zoning code
O
APN
242770-0020
UPID
US90-1351877
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
O · Bellevue, WAZoning O · permitted uses
O · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
Office Districts provide areas for business, financial and professional service offices, located on arterial or commercial access streets. In the proximity of other major business and commercial districts, this district…
General category
COMMERCIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1977
Construction
WOOD
Heating
OTHER
Cooling
Yes
Stories
2
Lot
1.02 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
O
COMMERCIAL
Jurisdiction
Bellevue, WA
Recorded code
O
Official district
O
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for O in Bellevue, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Cited sourceThe exact document the profile quotes
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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