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Property profile & analytics
OFF-MARKET
Estimated value
$10,645,000
Assisted living facilities
2424 156th NE Ave, Bellevue, WA 98007-3814
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-1542047
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
30,095 SF
Lot
1.93 ac (84,264 SF)
Zoning code
O
APN
067310-0087
UPID
US90-1542047
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
-
Mission Healthcare at Bellevue Nursing Home
-
Olivia Bordiuk Physician
-
Dr. Rijesh Shrestha Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.11M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.06M
Blend (final)
Blend
$10.65M
Owner & transaction history
2424 156th Ave Northeast Wa LLC · 1 yrs held
2424 156th Ave Northeast Wa LLC
since 2025
Last sale
$11.3M
7 recorded transactions
Zoning & alternative use
O · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$16.0M
+115.6%
Commercial (general)
$15.3M
+107.2%
Auto repair, garage
$13.8M
+86.6%
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 Bellevue submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bellevue 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
$11,560,000
ML approach
$9,105,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$7,405,000
Current use
RESTAURANT
$15,965,000
Change: +116% · Conversion: Difficult
COMMERCIAL (GENERAL)
$15,340,000
Change: +107% · Conversion: Difficult
AUTO REPAIR, GARAGE
$13,815,000
Change: +87% · Conversion: Difficult
OFFICE BUILDING
$13,220,000
Change: +79% · Conversion: Difficult
MEDICAL BUILDING
$11,890,000
Change: +61% · Conversion: Difficult
RETAIL STORES
$11,805,000
Change: +59% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$11,475,000
Change: +55% · Conversion: Difficult
Blend value · Realmo final
$10.65M
Range $9.58M – $11.71M · ±10% · vs last sale $11.25M (Jun 4 2025)
Last sale anchor
$11.25M
Jun 4 2025
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
$354 / 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
$99,673
Tax year 2022
Assessed value
$14,095,400
Assessed 2022
Previous assessed
$14,095,400
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$6,741,100
Assessed improvement
$7,354,300
Land market value
$6,741,100
Improvement market value
$7,354,300
Total market value
$14,095,400
Applied tax rate
330.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Units
65
Total area
30,095 SF
Lot
1.93 ac (84,264 SF)
Zoning code
O
APN
067310-0087
UPID
US90-1542047
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
O · Bellevue, WA
Zoning O · permitted uses
O · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bellevue. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$7.4M
RESTAURANT
Est. value
$16.0M
COMMERCIAL (GENERAL)
Est. value
$15.3M
AUTO REPAIR, GARAGE
Est. value
$13.8M
OFFICE BUILDING
Est. value
$13.2M
MEDICAL BUILDING
Est. value
$11.9M
RETAIL STORES
Est. value
$11.8M
INDUSTRIAL (GENERAL)
Est. value
$11.5M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Units
65
Lot
1.93 ac
Current owner
From public records · entity-resolved
2424 156th Ave Northeast Wa LLC
Entity
Mailing address
2424 156TH AVE NE, BELLEVUE, WA 98007-3814
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 4, 2025
$11,250,000
2424 156th Ave Northeast Wa LLC
Mission Healthcare Investment LLC
Special Warranty Deed
$14,765,000 · Ctr Partnership LP
May 1, 2017
—
Mission Healthcare Inv LLC
—
Trustees Deed
related
$16,100,000 · Columbia St Bk
Aug 1, 2005
—
Mission Healthcare Investment LLC
Tco LLC
Limited Warranty Deed
$8,200,000 · Gmac Commercial Mortgage Bank
Oct 14, 2003
$6,108,450
Tco LLC
Mission Healthcare
Grant Deed
—
Oct 7, 1994
$974,500
Bellevue Lynn Joint Venture Sc
King County
Grant Deed
$1,800,000 · Safecare Co INC
—
—
Bellevue Lynn Joint Venture Sc
—
Deed Of Trust
related
$6,750,000 · Usg Annuity & Life Co
—
—
Mission Healthcare Inv LLC
—
Deed Of Trust
related
$10,106,600 · Capmark Financial INC
—
—
Mission Healthcare Inv LLC
—
Deed Of Trust
related
$9,500,000 · Capmark Financial INC
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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