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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7401 164th NE Ave Redmond, WA 98052-7829

    • Hotels
    • 246,239 SF
    • 2.37 lot acres
    OFF-MARKET
    Last Sale
    Apr 08, 2022
    $28,500,000
    Value Estimations
    $30,010,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1737464
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Tesla Destination Charger / Electric Vehicle Charging Station
    • Brown's Stockyard Exchange / American Restaurant
    • Seattle Marriott Redmond / Wedding Venue / Hotel
    • Redmar Property / Real Estate Agency

    Property Details for 7401 164th NE Ave

    Year built
    2003
    Construction
    CONCRETE
    Lot size
    2.37 lot acres
    Property size
    246,239 SF
    Zone code
    TWNC
    Property type
    Hotels
    Property subtype
    Motels
    APN
    720241-0080
    APU
    7202410080

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $25,385,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Redmond
    County
    King
    State
    Washington
    Longitude
    -122.122
    Latitude
    47.6712
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $428,645
    $12,904,600
    $45,493,000
    $58,397,600
    -
    $12,904,600
    $45,493,000
    $58,397,600

    Comparable in this City

    • Value Estimation
      $20,685,000
      198,281 SF

      7200 164th NE Ave

      HOTEL/MOTEL • 198,281 SF
      7200 164th NE Ave, Redmond, WA 98052-7822
      View Details
    • Value Estimation
      $27,065,000
      113,672 SF

      7575 164th NE Ave

      HOTEL/MOTEL • 113,672 SF
      7575 164th NE Ave, Redmond, WA 98052-7807
      View Details
    • Value Estimation
      $32,895,000
      269,897 SF

      15220 Shen St

      HOTEL/MOTEL • 269,897 SF
      15220 Shen St, Redmond, WA 98052-6172
      View Details
    • Value Estimation
      $20,910,000
      46,464 SF

      7045 180th NE Ave

      HOTEL/MOTEL • 46,464 SF
      7045 180th NE Ave, Redmond, WA 98052-4922
      View Details
    • Value Estimation
      $16,640,000
      30,963 SF

      17601 Redmond Way

      HOTEL/MOTEL • 30,963 SF
      17601 Redmond Way, Redmond, WA 98052-4913
      View Details
    • Value Estimation
      $10,825,000
      73,910 SF

      17770 78th Pl

      HOTEL/MOTEL • 73,910 SF
      17770 78th Pl, Redmond, WA 98052-4960
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      350,000 SF

      Redmond Land Parcel For Sale

      Large land parcel available in Redmond, Washington.
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      Redmond Office Building Investment Opportunity

      95% occupied office building near downtown Redmond and upcoming light rail.
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    • $6,000,000
      18,000 SF

      Redmond Development Site For Sale

      18,000 SF corner development site in the heart of Redmond.
      8520 164Th Ave NE, Redmond, WA 98052
      View Details
    • $4,750,000
      21,750 SF

      Redmond Land with Development Potential

      21,750 SF property in Downtown Redmond with development potential.
      16440 85Th St, Redmond, WA 98052
      View Details
    • Contact for pricing

      Redmond Residential Development Opportunity

      1.2-acre residential development site in the heart of Redmond, WA.
      9041 166Th Ave NE, Redmond, WA 98052
      View Details
    • $2,407,300
      3,439 SF

      Redmond Two-Story Office Building

      3,439 SF office building with high-end finishes, walkable to downtown.
      16880 79Th St, Redmond, WA 98052
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      5,045 SF

      Redmond Office Space Sublease

      Office space for sublease in a prime Redmond location.
      15333 NE 90Th St, Redmond, WA 98052
      View Details
    • $3,800 /Mo
      1,482 SF

      Redmond Office Space Available

      Office space available for lease in Redmond, Washington.
      7901 168Th Ave NE, Redmond, WA 98052
      View Details
    • Contact for pricing
      4,450 SF

      Redmond Office Space Available

      Office space available for rent in Redmond, Washington.
      18300 Redmond Way, Redmond, WA 98052
      View Details
    • $40 SF/Yr
      1,716 SF

      Redmond Retail Space For Rent

      Prime retail or restaurant space available in downtown Redmond.
      15808 Bear Creek Pkwy, Redmond, WA 98052
      View Details
    • Contact for pricing
      4,108 SF

      Redmond Flex Space with Amenities

      Flex space near downtown Redmond with extensive on-site amenities.
      15223 NE 90Th St, Redmond, WA 98052
      View Details
    • Contact for pricing
      20,102 SF

      Redmond Office, Flex, Warehouse Space

      20,102 RSF office, flex, and warehouse space available for rent.
      14710 NE 87Th St, Redmond, WA 98052
      View Details
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    7401 164th NE Ave
    Redmond, WA 98052-7829
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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