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Property profile & analytics
OFF-MARKET
Estimated value
$41,050,000
Banks
23467 Novelty Hl Rd Redmond, WA 98053-5501
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-0108331
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,664 SF
Lot
0.91 ac (39,632 SF)
Zoning code
CBP
APN
868224-0020
UPID
US90-0108331
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
Current use
Occupant on record · Public records
-
Wells Fargo Bank Bank Loan Service
-
Wells Fargo ATM Atm
-
Best RV Rental Group Car Dealership
-
New Fashion Home Staging Interior Design Home Decor Store
-
Wells Fargo Advisors Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$41.05M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$41.05M
Owner & transaction history
Panos Properties LLC · 2 yrs held
Panos Properties LLC
since 2024
Last sale
$41.1M
7 recorded transactions
Zoning & alternative use
CBP · Redmond, WA
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 Redmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redmond 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
$41,050,000
ML approach
$41,050,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$41.05M
Range $36.95M – $45.16M · ±10% · vs last sale $41.05M (Jul 29 2024)
Last sale anchor
$41.05M
Jul 29 2024
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
$8,801 / 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
$21,560
Tax year 2022
Assessed value
$2,117,600
Assessed 2022
Previous assessed
$2,117,600
+0.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$1,030,400
Assessed improvement
$1,087,200
Land market value
$1,030,400
Improvement market value
$1,087,200
Total market value
$2,117,600
Applied tax rate
7,260.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
4,664 SF
Lot
0.91 ac (39,632 SF)
Zoning code
CBP
APN
868224-0020
UPID
US90-0108331
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CBP · Redmond, WAZoning CBP · permitted uses
CBP · Redmond, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Zoning Code | Redmond, WA
Building & site characteristics
From public records
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
0.91 ac
Current owner
From public records · entity-resolved
Panos Properties LLC
Entity
Free & Clear · 2 yrs held
Mailing address
2733 E PARLEYS WAY #30, SALT LAKE CITY, UT 84109-1600
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 29, 2024
$41,050,000
Panos Properties LLC
Redmond Plaza LLC
Bargain And Sale Deed
—
Nov 8, 2017
—
Redmond Plaza LLC
—
Deed
related
$18,200,000 · Miscellaneous Ins Co
Aug 1, 2016
—
Redmond Plaza LLC
Redmond Plaza II LLC
Bargain And Sale Deed
—
Aug 2, 2006
—
Redmond Plaza II LLC
Redmond Plaza LLC
Quit Claim Deed
$12,250,000 · Cibc INC
Aug 11, 2004
$2,873,868
Redmond Plaza LLC
Quality Food Centers INC
Grant Deed
—
—
—
Redmond Plaza LLC
—
Deed Of Trust
related
$18,200,000 · Miscellaneous Ins Co
—
—
Redmond Plaza 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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