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Property profile & analytics
OFF-MARKET
Commercial land
Bellevue, WA 98006
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1684359
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1971
Construction
STEEL FRAME
Total area
2,193 SF
Lot
0.28 ac (12,338 SF)
Zoning code
NB
APN
212405-9064
UPID
US90-1684359
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
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
Rainier Northwest University 5600 L · 1 yrs held
Rainier Northwest University 5600 L
since 2025
1 recorded transaction
Zoning & alternative use
NB · Bellevue, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Neighborhood Business Districts are small scale, mixed-use commercial areas that provide housing opportunities and retail and service businesses for the surrounding residential community. These sites may also accommodate a limited amount of administrative office space, provided that the office use does not interfere with the site’s primary neighborhood-servi…
Zone name
Neighborhood Business
General category
MIXED_USE
Zone area
33.43 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
$2,018
Tax year 2022
Assessed value
$271,400
Assessed 2022
Previous assessed
$271,400
+0.0% YoY
Effective rate
0.74%
On assessed value
Assessed land
$271,400
Land market value
$271,400
Total market value
$271,400
Applied tax rate
381.0000
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
Year built
1971
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Total area
2,193 SF
Lot
0.28 ac (12,338 SF)
Zoning code
NB
APN
212405-9064
UPID
US90-1684359
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NB · Bellevue, WAZoning NB · permitted uses
NB · Bellevue, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Neighborhood Business Districts are small scale, mixed-use commercial areas that provide housing opportunities and retail and service businesses for the surrounding residential community. These sites may also accommodate a limited amount of administrative office space, provided that the office use does not interfere with the site’s primary neighborhood-serving function
Zone name
Neighborhood Business
General category
MIXED_USE
Zone area
33.43 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1971
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Rainier Northwest University 5600 L
Individual
Free & Clear · 1 yrs held
Mailing address
1200 5TH AVE STE #1925, SEATTLE, WA 98101-1127
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2025
—
Rainier Northwest University 5600 L
Rainier Northwest University LLC
Quitclaim Deed
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.
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