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Property profile & analytics
OFF-MARKET
Estimated value
$6,490,000
Grocery and convenience stores
4989 Lakemont SE Blvd Bellevue, WA 98006-7803
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US90-1010069
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
25,078 SF
Lot
4.51 ac (196,383 SF)
Zoning code
CB
APN
413942-0760
UPID
US90-1010069
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
-
Matthews Fresh Market 208 Grocery & Convenience Store Food Market
-
Town & Country Market Lakemont Grocery & Convenience Store Food Market
-
Sushi Avenue Take-out & Catering
-
T&C Kitchen Restaurant
-
Central Market Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.82M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.49M
Owner & transaction history
Lakemont Village LP · 16 yrs held
Lakemont Village LP
since 2010
6 recorded transactions
Zoning & alternative use
CB · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Community Business Districts serve community markets and provide areas for the location of services and retail outlets, other than Downtown.
Zone name
Community Business
General category
COMMERCIAL
Zone area
251.46 ac
Source
Realmo
Top alternative use upside
Medical building
$9.9M
+0.7%
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%
$7,385,000
6.5%
$6,820,000
7%
$6,330,000
Alternative Use
Use
Estimation
RETAIL STORES
$9,840,000
Current use
MEDICAL BUILDING
$9,905,000
Change: +1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$9,565,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,695,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$6.49M
Range $5.84M – $7.14M · ±10%
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
$259 / 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
$131,851
Tax year 2022
Assessed value
$16,915,500
Assessed 2022
Previous assessed
$16,915,500
+0.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$9,819,100
Assessed improvement
$7,096,400
Land market value
$9,819,100
Improvement market value
$7,096,400
Total market value
$16,915,500
Applied tax rate
390.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
GAS
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Total area
25,078 SF
Lot
4.51 ac (196,383 SF)
Zoning code
CB
APN
413942-0760
UPID
US90-1010069
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CB · Bellevue, WAZoning CB · permitted uses
CB · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Community Business Districts serve community markets and provide areas for the location of services and retail outlets, other than Downtown.
Zone name
Community Business
General category
COMMERCIAL
Zone area
251.46 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$9.8M
MEDICAL BUILDING
Est. value
$9.9M
INDUSTRIAL (GENERAL)
Est. value
$9.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.7M
RETAIL STORES Current
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
GAS
Cooling
Yes
Stories
1
Buildings
3
Lot
4.51 ac
Current owner
From public records · entity-resolved
Lakemont Village LP
Entity
Mailing address
950 N 72ND ST STE #100, SEATTLE, WA 98103-5362
Ownership since
2010
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
Feb 14, 2020
—
Lakemont Village Limited Partnershi
—
Deed
related
$7,000,000 · River City Bank
Feb 2, 2010
—
Lakemont Village LP
City Of Bellevue
Quit Claim Deed
related
—
Sep 2, 1999
—
Bellevue City (wa)
Lakemont Village Ltd
Quit Claim Deed
related
—
Jun 3, 1998
—
Lakemont Village LP
—
Deed Of Trust
related
$7,100,000 · Seafirst Bank
Jun 3, 1997
$1,992,770
Lakemont Village LP
Bre/lakemont LLC
Grant Deed
related
$1,350,000 · Seafirst Bank
—
—
Lakemont Village LP
—
Deed Of Trust
related
$7,400,000 · Nationwide Life Insurance Co
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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