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Property profile & analytics
OFF-MARKET
Estimated value
$2,575,000
Office buildings
8005 28th St, Mercer Island, WA 98040-2904
Entity Owned
25-yr Hold
~
Est. High Equity
Property ID
US90-0205969
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1954
Construction
CONCRETE
Total area
13,795 SF
Lot
0.58 ac (25,195 SF)
Zoning code
TC
APN
545230-0455
UPID
US90-0205969
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
-
Bayley Construction Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.58M
Owner & transaction history
Bayley Property Investors LLC · 25 yrs held
Bayley Property Investors LLC
since 2001
6 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
$187 / 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
$27,821
Tax year 2022
Assessed value
$4,536,100
Assessed 2022
Previous assessed
$4,536,100
+0.0% YoY
Effective rate
0.61%
On assessed value
Assessed land
$4,535,100
Assessed improvement
$1,000
Land market value
$4,535,100
Improvement market value
$1,000
Total market value
$4,536,100
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
1954
Construction
CONCRETE
Heating
HOT WATER
Stories
2
Total area
13,795 SF
Lot
0.58 ac (25,195 SF)
Zoning code
TC
APN
545230-0455
UPID
US90-0205969
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
1954
Construction
CONCRETE
Heating
HOT WATER
Stories
2
Lot
0.58 ac
Current owner
From public records · entity-resolved
Bayley Property Investors LLC
Entity
Mailing address
8005 SE 28TH ST, MERCER ISLAND, WA 98040-2904
Ownership since
2001
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
May 29, 2001
$3,800,000
Bayley Property Investors LLC
Island Capital LLC
Grant Deed
$3,075,000 · Key Bank NA
Mar 15, 2000
—
Island Capital LLC
—
Deed Of Trust
related
$1,900,000 · Towne Bank
Mar 15, 2000
$1,482,180
Island Capital LLC
Morris,william J & Gretchen M
Trustees Deed
related
—
Dec 26, 1989
$793,068
William J Morris
Sterne,joseph W
Grant Deed
$777,200 · Seller
Dec 5, 1989
$310,932
State Of Wa Dept Of Tr
Consumers
Grant Deed
—
—
—
Island Capital LLC
—
Deed Of Trust
related
$300,000 · Individual
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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