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Property profile & analytics
OFF-MARKET
Commercial land
915 118th SE Ave Bellevue, WA 98005-3819
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-1920052
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
5.28 ac (229,861 SF)
Zoning code
O
APN
066287-0050
UPID
US90-1920052
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
-
Schuff Steel Company Construction Company
-
West Coast Psychiatry Psychiatrist Medical Clinic
-
Haynes Deborah MD Physician
-
Three60 Law Group PLLC Law Firm
-
Todd Akiyama - Ameriprise Financial Services, LLC Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Spire Gateway LP · 8 yrs held
Spire Gateway LP
since 2018
7 recorded transactions
Zoning & alternative use
O · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Office Districts provide areas for business, financial and professional service offices, located on arterial or commercial access streets. In the proximity of other major business and commercial districts, this district may serve as a buffer between residential areas and more intensive commercial districts
Zone name
Office
General category
COMMERCIAL
Zone area
447.30 ac
Source
Realmo
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 Bellevue submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bellevue 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
—
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
$12
Tax year 2022
Applied tax rate
330.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Heating
NONE
Lot
5.28 ac (229,861 SF)
Zoning code
O
APN
066287-0050
UPID
US90-1920052
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
O · Bellevue, WAZoning O · permitted uses
O · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Office Districts provide areas for business, financial and professional service offices, located on arterial or commercial access streets. In the proximity of other major business and commercial districts, this district may serve as a buffer between residential areas and more intensive commercial districts
Zone name
Office
General category
COMMERCIAL
Zone area
447.30 ac
Source
Realmo
Building & site characteristics
From public records
Heating
NONE
Lot
5.28 ac
Current owner
From public records · entity-resolved
Spire Gateway LP
Entity
Mailing address
500 SE 108TH AVE NE STE #2400, BELLEVUE, WA 98004-5553
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2023
—
Spire Gateway LP
—
Deed
related
$13,500,000 · Minnesota Life Insurance Company
Mar 23, 2018
$25,500,000
Spire Gateway LP
Sfii 915 118th Ave Se LLC
Trustees Deed
$14,500,000 · Miscellaneous Ins Co
Apr 24, 2007
$22,500,000
W2007 Seattle Office Bellevue
Wa-bellevue Gateway LLC
Grant Deed
—
—
—
W2007 Seattle Office 110 Atr|wa-one Bellevue Cente
—
Deed Of Trust
related
$320,000,000 · Bellevue Office Finco 2015 LLC
—
—
W2007 Seattle Office 110 Atr|w2007 Seattle Office
—
Loan Modification
related
—
—
—
W2007 Seattle Office 1111 Th
—
Loan Modification
related
$462,487,746 · Wells Fargo Bk #2007-tfl2 (ce)
—
—
W2007 Seattle Office 110 Atr|w2007 Seattle Office
—
Loan Modification
related
—
—
—
W2007 Seattle Office 1111 Th|w2007 Seattle Office
—
Loan Modification
related
—
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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