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Property profile & analytics
OFF-MARKET
Estimated value
$20,910,000
Hotels
7045 180th NE Ave, Redmond, WA 98052-4922
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-2634137
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2017
Construction
WOOD
Total area
46,464 SF
Lot
1.64 ac (71,235 SF)
Zoning code
GC
APN
122505-9216
UPID
US90-2634137
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
-
WoodSpring Suites Seattle Redmond Hotel & Motel Vacation Rental
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$21.07M
Blend (final)
Blend
$20.91M
Owner & transaction history
Spi Redmond LLC · 4 yrs held
Spi Redmond LLC
since 2021
Last sale
$20.3M
7 recorded transactions
Zoning & alternative use
GC · Redmond, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$24.7M
+58.5%
Auto repair, garage
$21.3M
+37.1%
Medical building
$18.4M
+18.0%
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
$21,900,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$15,555,000
Current use
RESTAURANT
$24,650,000
Change: +58% · Conversion: Difficult
AUTO REPAIR, GARAGE
$21,330,000
Change: +37% · Conversion: Difficult
MEDICAL BUILDING
$18,355,000
Change: +18% · Conversion: Difficult
RETAIL STORES
$18,225,000
Change: +17% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$17,720,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$20.91M
Range $18.82M – $23.00M · ±10% · vs last sale $20.33M (Sep 29 2021)
Last sale anchor
$20.33M
Sep 29 2021
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
$450 / 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
$141,524
Tax year 2022
Assessed value
$19,279,100
Assessed 2022
Previous assessed
$19,279,100
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$4,986,400
Assessed improvement
$14,292,700
Land market value
$4,986,400
Improvement market value
$14,292,700
Total market value
$19,279,100
Applied tax rate
2,025.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2017
Construction
WOOD
Heating
CENTRAL
Stories
3
Total area
46,464 SF
Lot
1.64 ac (71,235 SF)
Zoning code
GC
APN
122505-9216
UPID
US90-2634137
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
GC · Redmond, WA
Zoning GC · permitted uses
GC · 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.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$15.6M
RESTAURANT
Est. value
$24.7M
AUTO REPAIR, GARAGE
Est. value
$21.3M
MEDICAL BUILDING
Est. value
$18.4M
RETAIL STORES
Est. value
$18.2M
INDUSTRIAL (GENERAL)
Est. value
$17.7M
HOTEL/MOTEL Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
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
2017
Construction
WOOD
Heating
CENTRAL
Stories
3
Lot
1.64 ac
Current owner
From public records · entity-resolved
Spi Redmond LLC
Entity
Mailing address
3889 MAPLE AVE STE #220, DALLAS, TX 75219-3917
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2021
$20,328,000
Spi Redmond LLC
Redmond Hotel Holdings LLC
Special Warranty Deed
$13,870,000 · East West Bank
Apr 24, 2019
—
Redmond Hotel Holdings LLC
—
Deed
related
$12,000,000 · Umpqua Bk
Dec 23, 2016
—
Redmond Hotel Holdings LLC
—
Deed
related
$9,900,000 · Umpqua Bank
Sep 30, 2016
$3,864,800
Redmond Hotel Holding LLC
Stuart Anderson Props LLC
Grant Deed
—
Sep 26, 2007
—
Stuart Anderson Properties LLC
Anderson,stuart
Quit Claim Deed
related
—
Dec 16, 2004
—
Faas Judith D Trust
Faas,judith D
Quit Claim Deed
related
—
Feb 22, 2000
—
Judith D Faas
Faas,andrew S
Quit Claim Deed
related
—
Jun 7, 1993
$116,000
Stuart Et Al Anderson
Anderson
Grant Deed
related
$116,000 · Seller
Dec 31, 1992
—
Stuart Anderson
Anderson Lloyd N
Quit Claim Deed
related
—
—
—
Redmond Hotel Holdings LLC
—
Loan Modification
related
$12,000,000 · Umpqua Bk
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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