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Financial
Distress signals
Property profile

8015 SE 28Th St Mercer Island, WA 98040

FOR LEASE
Office buildings
Property ID
US90-1984159
27,585 SF 0.38 ac lot Built 2001
Last sale Apr 2005 · $5,105,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 21-yr Hold Held for 21 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

This professional office building is located in Downtown Mercer Island, Washington, just off I-90 and Island Crest Way. It provides access via a pedestrian walkway to nearby shops and restaurants and includes key card entry. The property includes covered parking and offers Comcast Business telecommunications service. The building has a total area of 596 square feet.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2022

What does the county charge?
$37k
Tax billed · 2022
Assessed value$6.08M
Assessed land$2.97M
Assessed improvement$3.11M
Effective rate0.61%

Value estimate

· Oct 2026
$4.29M
$3.86M – $4.72M
NOI build-up
Gross scheduled income$78k
Vacancy & credit loss−$17k
Operating expenses−$15k
NOI · 156,844.83% cap applied$45k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$377/SF
County average, outlier-cleaned · 676 recorded sales of this use type
Observed band · Q1–Q3$219 – $623

Cap rate analysis

How does the asset earn?
156,844.83%
$45k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
TC
To implement the land use policies of the Mercer Island comprehensive plan for the area referred to as the Town Center.
General categoryUNKNOWN
JurisdictionKING

Location intelligence

Which uses thrive at this corner?
Best fit: Auto Repair Shop
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Auto Repair Shop15.9
Clothing Store13.7
Grocery Store11.8

Location

8015 SE 28Th St Mercer Island, WA 98040
County assessor Recorded deeds · 7 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

1 recorded sale · 12 properties nearby
Recent sales nearby
1 recorded sale in this ZIP, last 8 years
Address Sale price Sold Size
3003 77th SE, Mercer Island, WA 98040-2837 $114,095,000 Apr 2022 155,200 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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