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Property profile & analytics
OFF-MARKET
Estimated value
$41,110,000
Retail properties & Spaces
701 Bellevue NE Way Bellevue, WA 98004
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1649281
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1984
Construction
CONCRETE
Total area
218,371 SF
Lot
18.56 ac (808,313 SF)
Zoning code
DNTN-MU
APN
154410-0040
UPID
US90-1649281
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$41.11M
Owner & transaction history
H&m Fashion USA INC · 1 yrs held
H&m Fashion USA INC
since 2024
6 recorded transactions
Zoning & alternative use
DNTN-MU · Bellevue, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$188 / 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
$1,837,814
Tax year 2022
Assessed value
$259,943,100
Assessed 2022
Previous assessed
$259,943,100
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$258,660,100
Assessed improvement
$1,283,000
Land market value
$258,660,100
Improvement market value
$1,283,000
Total market value
$259,943,100
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1984
Construction
CONCRETE
Heating
OTHER
Buildings
2
Stories
3
Total area
218,371 SF
Lot
18.56 ac (808,313 SF)
Zoning code
DNTN-MU
APN
154410-0040
UPID
US90-1649281
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DNTN-MU · Bellevue, WA
Zoning DNTN-MU · permitted uses
DNTN-MU · 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.
Building & site characteristics
From public records
Year built
1984
Construction
CONCRETE
Heating
OTHER
Stories
3
Buildings
2
Lot
18.56 ac
Current owner
From public records · entity-resolved
H&m Fashion USA INC
Entity
Free & Clear · 1 yrs held
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Nov 25, 2024
—
H&m Fashion USA INC
Bellevue Square LLC
Deed
—
Aug 1, 2024
—
Bellevue Square LLC
James S Samuel
Lease
—
Jul 19, 2023
—
George F Brice III
Margaret Brice Vorwick Trust
Correction Deed
related
—
Oct 1, 2009
—
Bellevue Square LLC
—
Deed Of Trust
related
$190,000,000 · Connecticut General Life Ins
—
—
Bellevue Square LLC|lincoln Square Retail LLC
—
Loan Modification
related
$375,000,000 · Miscellaneous Ins Co
—
—
Bellevue Square LLC
—
Deed Of Trust
related
$375,000,000 · Pacific 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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