Entity Owned Property summary
AI-generated overview
This exceptional retail space, part of the Marketplace at Redmond Ridge, presents a rare leasing opportunity in a thriving King County location. Situated at 22320 NE Marketplace Dr, Redmond, WA 98053, this 1,201 square foot unit is part of a larger 39,230 square foot strip center built in 2006. The property boasts a convenient street retail location within a well-established shopping center, offering excellent visibility and accessibility. The building features multiple tenants, creating a vibrant and bustling commercial environment. The lot size is 39,230 square feet, encompassing 0.9 acres of land. There are no elevators in the building. The building's floor area ratio (FAR) is 0.19. This space is ideal for a variety of retail businesses seeking a high-traffic location in a desirable Redmond neighborhood. Don't miss this chance to establish your business in a prime retail setting. Contact us today to schedule a viewing and learn more about this exceptional opportunity.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,464 SF
Lot
0.9 ac (39,230 SF)
Zoning code
NB
APN
720239-0070
UPID
US90-0214455
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
-
(Bike/Boat/Book/etc) Store
-
Vocational School Training Center
-
Restaurant
-
Nail Salon
-
Hair Salon
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.48M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.57M
Owner & transaction history
since 2022
Last sale
$8.5M
3 recorded transactions
Zoning & alternative use
NB · Redmond, WA
Top alternative use upside
Office building
$7.2M
+24.0%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 7 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$7.57M
Value range
$6.81M – $8.33M
±10% around blend
Estimated value / SF
$1,014 / SF
Confidence
High
7 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
70
$6.81M
blend $7.57M
$8.33M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
7,464 SF
Lot area
0.9 ac
Year built
2006
Stories
1
APN
720239-0070
Zoning
NB
Assessed value
$2,443,400
Annual tax
$24,278
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$2.60M
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
12.9 mi away · 7,542 SF
14.8 mi away · 5,362 SF
15.6 mi away · 7,745 SF
19.9 mi away · 7,172 SF
21.7 mi away · 6,422 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$7.57M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 27 sales
$777
+31%
County 433 sales
$510
+99%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $1,014/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+24%
vs current-use indication
Commercial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
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.
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
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$8.50M
Move the market yield to see immediate price impact.
Value / SF
$1,139
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
5.00%7.00%9.00%
$536k
$10.71M
$7.65M
$5.95M
$595k
$11.90M
$8.50M
$6.61M
$655k
$13.09M
$9.35M
$7.27M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$2.60M
4.2 mi · Jan 2026 · $276/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$24,278
Tax year 2022
Assessed value
$2,443,400
Assessed 2022
Previous assessed
$2,443,400
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,019,900
Assessed improvement
$1,423,500
Land market value
$1,019,900
Improvement market value
$1,423,500
Total market value
$2,443,400
Applied tax rate
7,260.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
7,464 SF
Lot
0.9 ac (39,230 SF)
Zoning code
NB
APN
720239-0070
UPID
US90-0214455
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NB · Redmond, WAZoning NB · permitted uses
NB · Redmond, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
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
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
0.9 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
NB
Jurisdiction
Redmond, WA
Recorded code
NB
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for NB in Redmond, WA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
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.
One complete report on every paid plan · 30 · 300 reports per month.
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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