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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Commercial land
5538 148th NE Ave Redmond, WA 98052
Trust Owned
26-yr Hold
Free & Clear
Property ID
US90-2467105
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1966
Construction
WOOD FRAME
Total area
3,340 SF
Lot
0.91 ac (39,600 SF)
Zoning code
OBAT
APN
218250-0013
UPID
US90-2467105
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
-
Microsoft Redwest M Garage Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$390k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$517k
Blend (final)
Blend
$590k
Owner & transaction history
Morella Trust · 26 yrs held
Morella Trust
since 2000
6 recorded transactions
Zoning & alternative use
OBAT · Redmond, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Redmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redmond 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
$390,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$177 / 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
$18,708
Tax year 2022
Assessed value
$2,613,600
Assessed 2022
Previous assessed
$2,613,600
+0.0% YoY
Effective rate
0.72%
On assessed value
Assessed land
$2,613,600
Land market value
$2,613,600
Total market value
$2,613,600
Applied tax rate
2,053.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1966
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
1
Bathrooms
2
Total area
3,340 SF
Lot
0.91 ac (39,600 SF)
Zoning code
OBAT
APN
218250-0013
UPID
US90-2467105
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OBAT · Redmond, WA
Zoning OBAT · permitted uses
OBAT · Redmond, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Redmond. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1966
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
1
Bathrooms
2
Lot
0.91 ac
Current owner
From public records · entity-resolved
Morella Trust
Trust
Free & Clear · 26 yrs held
Mailing address
PO BOX 25910, SCOTTSDALE, AZ 85255-0115
Ownership since
2000
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
Mar 1, 2000
—
Morella Trust
Morella Trust
Quit Claim Deed
related
—
Mar 1, 2000
$2,225,000
Morella Trust
Morella Trust
Trustees Deed
related
—
Mar 13, 1998
$275,000
Microsoft Corp
Morelli,albarosa
Grant Deed
—
Dec 20, 1995
—
Microsoft Corp
Morelli Trust
Quit Claim Deed
related
—
Feb 1, 1994
$357,843
Microsoft Corp
Panfilo S Morell
Grant Deed
—
Mar 15, 1988
—
Alba Morelli
Morelli,panfilo&
Quit Claim Deed
related
—
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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