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Property profile & analytics
OFF-MARKET
Estimated value
$108,765,000
Office buildings
3003 77th SE Ave, Mercer Island, WA 98040-2837
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1618530
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1982
Construction
CONCRETE
Total area
155,200 SF
Lot
5.88 ac (255,974 SF)
Zoning code
TC
APN
531510-1015
UPID
US90-1618530
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
-
Farmers New World Life Insurance Company Insurance Agency
-
John Air Duct Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$96.61M
Blend (final)
Blend
$108.77M
Owner & transaction history
Riot Games Mercer Island LLC · 4 yrs held
Riot Games Mercer Island LLC
since 2022
Last sale
$114.1M
6 recorded transactions
Zoning & alternative use
TC · Mercer Island, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$82.3M
+40.7%
Commercial (general)
$79.1M
+35.2%
Auto repair, garage
$71.3M
+21.8%
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 Mercer Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mercer Island 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
$110,255,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$82,335,000
Change: +41% · Conversion: Moderate
COMMERCIAL (GENERAL)
$79,115,000
Change: +35% · Conversion: Easy
AUTO REPAIR, GARAGE
$71,250,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$108.77M
Range $97.89M – $119.64M · ±10% · vs last sale $114.10M (Apr 26 2022)
Last sale anchor
$114.10M
Apr 26 2022
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
$701 / 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
$570,755
Tax year 2022
Assessed value
$93,120,000
Assessed 2022
Previous assessed
$93,120,000
+0.0% YoY
Effective rate
0.61%
On assessed value
Assessed land
$46,075,300
Assessed improvement
$47,044,700
Land market value
$46,075,300
Improvement market value
$47,044,700
Total market value
$93,120,000
Applied tax rate
1,031.0000
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
1982
Construction
CONCRETE
Heating
FORCED AIR
Buildings
2
Stories
5
Total area
155,200 SF
Lot
5.88 ac (255,974 SF)
Zoning code
TC
APN
531510-1015
UPID
US90-1618530
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TC · Mercer Island, WA
Zoning TC · permitted uses
TC · Mercer Island, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mercer Island. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$82.3M
COMMERCIAL (GENERAL)
Est. value
$79.1M
AUTO REPAIR, GARAGE
Est. value
$71.3M
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
1982
Construction
CONCRETE
Heating
FORCED AIR
Stories
5
Buildings
2
Lot
5.88 ac
Current owner
From public records · entity-resolved
Riot Games Mercer Island LLC
Entity
Mailing address
12333 W OLYMPIC BLVD, LOS ANGELES, CA 90064-1021
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 26, 2022
—
Riot Games Mercer Island LLC
Riot Games INC
Intrafamily Transfer
related
—
Dec 7, 2021
$114,095,000
Riot Games INC
Mercer Park South LLC
Bargain And Sale Deed
—
Apr 16, 2020
$46,450,000
Ryan Companies Us INC
Vereit Real Estate LP
Grant Deed
—
Apr 16, 2020
—
Mercer Park South LLC
—
Deed
related
$43,339,400 · Hsbc Bank USA
Dec 22, 2005
$39,550,000
Clf Mercer Island LLC
Farmers New World Life Ins
Grant Deed
$33,102,231 · Lasalle National Bank
—
—
Mercer Park South LLC
—
Deed Of Trust
related
$43,339,400 · Hsbc Bk USA NA
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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