New search
Property profile & analytics
OFF-MARKET
Estimated value
$7,670,000
Office buildings
7900 28th St, Mercer Island, WA 98040-6005
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US90-3345067
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
38,874 SF
Lot
0.89 ac (38,811 SF)
Zoning code
TC
APN
545230-1385
UPID
US90-3345067
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
-
Steven Djordjevich Accounting Firm
-
The Law Office Solution Coworking & Hybrid Office
-
Holland Law Group Law Firm
-
Wolf Law PLLC Law Firm
-
Gosanko Law Firm Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.67M
Owner & transaction history
Mercer Island Court LLC · 20 yrs held
Mercer Island Court LLC
since 2005
3 recorded transactions
Zoning & alternative use
TC · Mercer Island, 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 Mercer Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mercer Island 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
$197 / 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
$87,250
Tax year 2022
Assessed value
$14,232,500
Assessed 2022
Previous assessed
$14,232,500
+0.0% YoY
Effective rate
0.61%
On assessed value
Assessed land
$8,150,300
Assessed improvement
$6,082,200
Land market value
$8,150,300
Improvement market value
$6,082,200
Total market value
$14,232,500
Applied tax rate
1,031.0000
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
2
Stories
5
Total area
38,874 SF
Lot
0.89 ac (38,811 SF)
Zoning code
TC
APN
545230-1385
UPID
US90-3345067
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TC · Mercer Island, WA
Zoning TC · permitted uses
TC · Mercer Island, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mercer Island. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
5
Buildings
2
Lot
0.89 ac
Current owner
From public records · entity-resolved
Mercer Island Court LLC
Entity
Mailing address
PO BOX 198, ISSAQUAH, WA 98027-0009
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 22, 2025
—
Mercer Island Court LLC
—
Deed
related
$25,000 · Washington Trust Bank
Jul 15, 2005
$11,575,000
Mercer Island Court LLC
Odc X
Warranty Deed
$8,000,000 · Column Financial INC
—
—
Matthew B Straight
—
Deed Of Trust
related
$30,000 · Straight Frank W
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 7900 28th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
