505 106Th Ave NE Bellevue, WA 98004
Office buildings
Google Maps
Entity Owned
24-yr Hold
Free & Clear
For Lease
Contact for pricing
505 106Th Ave NE, Bellevue, WA 98004
View Listing →
Estimated value (blended)
$14.06M
Range $12.65M – $15.47M (±10%)
Property ID
US90-0743908
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1967
Construction
CONCRETE
Total area
42,411 SF
Lot
2.77 ac (120,647 SF)
Zoning code
DNTNO-1
APN
154410-0276
UPID
US90-0743908
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Parking Lot & Garage
-
Consultant
-
Real Estate Agency
-
Real Estate Agency
-
Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.19M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$14.06M
Owner & transaction history
since 2001
6 recorded transactions
Zoning & alternative use
DNTNO-1 · Bellevue, WA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 5 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$14.06M
Value range
$12.65M – $15.47M
±10% around blend
Estimated value / SF
$332 / SF
Confidence
High
5 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
50
Income certainty
100
$12.65M
blend $14.06M
$15.47M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
42,411 SF
Lot area
2.77 ac
Year built
1967
Stories
2
APN
154410-0276
Assessed value
$93,502,400
Annual tax
$661,078
3
Income approach: direct capitalization
Partial preview
Income approach indication
$15.19M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$16.45M
@ 6.5% CAP return
$15.19M
@ 7% CAP return
$14.10M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$661,078
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$17.95M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
5.4 mi away · 34,873 SF
5.8 mi away · 33,486 SF
6.3 mi away · 53,480 SF
6.7 mi away · 44,090 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$14.06M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 27 sales
$548
-40%
Submarket 142 sales
$439
-25%
County 676 sales
$377
-12%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $332/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
325,385.00%
Selected cap rate for this office buildings
Derived from the Bellevue market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$130k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$40
Move the market yield to see immediate price impact.
Value / SF
$0
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
325,384.50%325,385.00%325,385.50%
$117k
$36
$36
$36
$130k
$40
$40
$39
$143k
$43
$43
$43
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$20.76M
3.4 mi · Feb 2026 · $377/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$661,078
Tax year 2022
Assessed value
$93,502,400
Assessed 2022
Previous assessed
$93,502,400
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$93,501,400
Assessed improvement
$1,000
Land market value
$93,501,400
Improvement market value
$1,000
Total market value
$93,502,400
Applied tax rate
330.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1967
Construction
CONCRETE
Heating
HEAT PUMP
Stories
2
Total area
42,411 SF
Lot
2.77 ac (120,647 SF)
Zoning code
DNTNO-1
APN
154410-0276
UPID
US90-0743908
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DNTNO-1 · Bellevue, WAZoning DNTNO-1 · permitted uses
DNTNO-1 · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1967
Construction
CONCRETE
Heating
HEAT PUMP
Stories
2
Lot
2.77 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
DNTNO-1
Jurisdiction
Bellevue, WA
Recorded code
DNTNO-1
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
