New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,880,000
Office buildings
605 119th NE Ave, Bellevue, WA 98005-3031
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0679502
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,038 SF
Lot
2.06 ac (89,747 SF)
Zoning code
GC
APN
332505-9134
UPID
US90-0679502
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
-
Mutual Materials Big Box & Wholesale Store Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.95M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.88M
Owner & transaction history
Mutual Real Estate Holdings LLC · 4 yrs held
Mutual Real Estate Holdings LLC
since 2022
5 recorded transactions
Zoning & alternative use
GC · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.4M
+15.5%
Retail stores
$4.3M
+14.7%
Industrial (general)
$4.2M
+11.5%
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%
$4,280,000
6.5%
$3,950,000
7%
$3,670,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,775,000
Current use
MEDICAL BUILDING
$4,360,000
Change: +16% · Conversion: Easy
RETAIL STORES
$4,330,000
Change: +15% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$4,210,000
Change: +12% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,825,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$2.88M
Range $2.59M – $3.17M · ±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
$261 / 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
$98,375
Tax year 2022
Assessed value
$13,911,700
Assessed 2022
Previous assessed
$13,911,700
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$13,910,700
Assessed improvement
$1,000
Land market value
$13,910,700
Improvement market value
$1,000
Total market value
$13,911,700
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
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
3
Stories
1
Total area
11,038 SF
Lot
2.06 ac (89,747 SF)
Zoning code
GC
APN
332505-9134
UPID
US90-0679502
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
GC · Bellevue, WA
Zoning GC · permitted uses
GC · 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
$3.8M
MEDICAL BUILDING
Est. value
$4.4M
RETAIL STORES
Est. value
$4.3M
INDUSTRIAL (GENERAL)
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.8M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Buildings
3
Lot
2.06 ac
Current owner
From public records · entity-resolved
Mutual Real Estate Holdings LLC
Entity
Mailing address
605 119TH AVE NE, BELLEVUE, WA 98005-3031
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2023
—
Mutual Real Estate Holdings LLC
—
Deed
related
$8,500,000 · Wells Fargo Bank NA
Mar 1, 2022
—
Mutual Real Estate Holdings LLC
Mutual Materials Company
Intrafamily Transfer
related
$15,000,000 · Wells Fargo Bank NA
Nov 29, 2016
—
Mutual Materials Company
—
Deed
related
$5,000,000 · Wells Fargo Bank NA
Sep 23, 2014
—
Mutual Materials Co
—
Loan Modification
related
$21,345,000 · Wells Fargo Bk
Jul 21, 2004
—
Mutual Material Co
—
Deed Of Trust
related
$2,700,000 · Wells Fargo Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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