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Property profile & analytics
FOR LEASE
Office buildings
3245 158Th Ave Southeast, Bellevue, WA 98008
Entity Owned
Free & Clear
Property ID
US90-2718472
For Lease
1 / 2
$25,885,000
3245 158Th Ave Southeast, Bellevue, WA 98008
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
CONCRETE
Total area
69,731 SF
Lot
3.95 ac (172,202 SF)
Zoning code
OLB2
APN
232900-0030
UPID
US90-2718472
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
-
I-90 Bellevue Real Estate Agency
-
Equity Office Property Management Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$24.97M
Comparable Approach
Comparable
$28.17M
Blend (final)
Blend
$25.89M
Owner & transaction history
Kl Lb Propco IV C LLC
Kl Lb Propco IV C LLC
since 2025
Last sale
$25.2M
3 recorded transactions
Zoning & alternative use
OLB2 · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$37.0M
+20.8%
Commercial (general)
$35.5M
+16.0%
Auto repair, garage
$32.0M
+4.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$27,045,000
6.5%
$24,965,000
7%
$23,180,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$30,635,000
Current use
RESTAURANT
$36,995,000
Change: +21% · Conversion: Moderate
COMMERCIAL (GENERAL)
$35,545,000
Change: +16% · Conversion: Easy
AUTO REPAIR, GARAGE
$32,010,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$27,545,000
Change: -10% · Conversion: Easy
RETAIL STORES
$27,355,000
Change: -11% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$26,595,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$25.89M
Range $23.30M – $28.47M · ±10% · vs last sale $25.20M (Aug 6 2025)
Last sale anchor
$25.20M
Aug 6 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
$371 / 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
$144,136
Tax year 2022
Assessed value
$20,384,200
Assessed 2022
Previous assessed
$20,384,200
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$9,987,700
Assessed improvement
$10,396,500
Land market value
$9,987,700
Improvement market value
$10,396,500
Total market value
$20,384,200
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1985
Construction
CONCRETE
Heating
HEAT PUMP
Stories
3
Total area
69,731 SF
Lot
3.95 ac (172,202 SF)
Zoning code
OLB2
APN
232900-0030
UPID
US90-2718472
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OLB2 · Bellevue, WA
Zoning OLB2 · permitted uses
OLB2 · 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
OFFICE BUILDING Current
Est. value
$30.6M
RESTAURANT
Est. value
$37.0M
COMMERCIAL (GENERAL)
Est. value
$35.5M
AUTO REPAIR, GARAGE
Est. value
$32.0M
MEDICAL BUILDING
Est. value
$27.5M
RETAIL STORES
Est. value
$27.4M
INDUSTRIAL (GENERAL)
Est. value
$26.6M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1985
Construction
CONCRETE
Heating
HEAT PUMP
Stories
3
Lot
3.95 ac
Current owner
From public records · entity-resolved
Kl Lb Propco IV C LLC
Entity
Free & Clear · 0 yrs held
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 6, 2025
$25,200,000
Kl Lb Propco IV C LLC
I 90 Bellevue I Investments LLC
Bargain & Sale Deed
—
Jan 4, 2024
—
Is Property Investments LLC
I 90 Bellevue I Investments LLC
Agreement Of Sale
—
May 5, 2017
$5,000,000
I-90 Bellevue I Invs LLC
Ae Eastgate I LLC
Warranty Deed
$13,000,000 · Boeing Emps Cu
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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