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Property profile & analytics
OFF-MARKET
Estimated value
$44,685,000
Office buildings
22010 51st St, Issaquah, WA 98029-7298
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US90-0161302
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1994
Construction
CONCRETE
Total area
133,960 SF
Lot
22.9 ac (997,705 SF)
Zoning code
MU
APN
212406-9132
UPID
US90-0161302
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
$47.96M
Comparable Approach
Comparable
$61.03M
Blend (final)
Blend
$44.69M
Owner & transaction history
Jigsaw Rphc LLC · 12 yrs held
Jigsaw Rphc LLC
since 2013
7 recorded transactions
Zoning & alternative use
MU · Issaquah, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$71.1M
+1.9%
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 Issaquah submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Issaquah 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%
$51,955,000
6.5%
$47,960,000
7%
$44,535,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$69,780,000
Current use
RESTAURANT
$71,070,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$68,290,000
Change: -2% · Conversion: Easy
AUTO REPAIR, GARAGE
$61,500,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$44.69M
Range $40.22M – $49.15M · ±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
$334 / 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
$250,985
Tax year 2022
Assessed value
$33,105,500
Assessed 2022
Previous assessed
$33,105,500
+0.0% YoY
Effective rate
0.76%
On assessed value
Assessed land
$18,553,100
Assessed improvement
$14,552,400
Land market value
$18,553,100
Improvement market value
$14,552,400
Total market value
$33,105,500
Applied tax rate
1,436.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1994
Construction
CONCRETE
Heating
OTHER
Cooling
OTHER
Stories
2
Total area
133,960 SF
Lot
22.9 ac (997,705 SF)
Zoning code
MU
APN
212406-9132
UPID
US90-0161302
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MU · Issaquah, WA
Zoning MU · permitted uses
MU · Issaquah, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Issaquah. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$69.8M
RESTAURANT
Est. value
$71.1M
COMMERCIAL (GENERAL)
Est. value
$68.3M
AUTO REPAIR, GARAGE
Est. value
$61.5M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1994
Construction
CONCRETE
Heating
OTHER
Cooling
Yes
Stories
2
Lot
22.9 ac
Current owner
From public records · entity-resolved
Jigsaw Rphc LLC
Entity
Mailing address
5300 MELROSE AVE FL, LOS ANGELES, CA 90038-5111
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 14, 2025
—
Jigsaw Rphc LLC
—
Deed
related
$24,659,000 · Israel Discount Bank Of New York
Apr 27, 2018
—
Jigsaw Rphc LLC
—
Deed
related
—
Jun 30, 2016
—
Jigsaw Rphc LLC
—
Deed
related
—
Sep 30, 2013
$22,300,000
Jigsaw Rphc LLC
A & B Properties INC
Grant Deed
$13,000,000 · T G Super Exchange Corp
Sep 13, 2011
$19,947,000
Alexander & Baldwin INC
Siemens Corp
Grant Deed
—
Oct 7, 2008
—
Siemens Real Estate INC
Smi Holding LLC
Grant Deed
—
Oct 5, 2000
$17,960
Smi Holding LLC
Si Issaquah INC
Grant Deed
—
—
—
Jigsaw Rphc LLC
—
Deed Of Trust
related
—
—
—
Jigsaw Rphc LLC
—
Loan Modification
related
—
—
—
Jigsaw Rphc LLC
—
Deed Of Trust
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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