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For Lease
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6990 188 Ave Northeast, Redmond, WA 98052
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Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2003
Construction
CONCRETE
Total area
110,708 SF
Lot
1.55 ac (67,555 SF)
Zoning code
TWNC
APN
720241-0130
UPID
US90-2303114
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
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
since 2019
Last sale
$58.0M
7 recorded transactions
Zoning & alternative use
TWNC · Redmond, WA
Zoning description
(OT), Anderson Park (AP), Town Center (TWNC), Valley View (VV), Trestle (TR), Bear Creek (BC), Sammamish Trail (SMT), Town Square (TSQ), River Bend (RVBD), River Trail (RVT), Carter (CTR), East Hill (EH) • Overlake Mixed…
General category
RESIDENTIAL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Realmo’s models returned no estimation for this property yet.
2
Subject property
Included free
GBA
110,708 SF
Lot area
1.55 ac
Year built
2003
Stories
2
APN
720241-0130
Zoning
TWNC
Assessed value
$46,305,000
Annual tax
$339,888
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$339,888
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 27 sales
$777
N/A
County 433 sales
$510
N/A
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
6
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$9.91M
Move the market yield to see immediate price impact.
Value / SF
$89
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$624k
$12.48M
$8.92M
$6.93M
$693k
$13.87M
$9.91M
$7.70M
$763k
$15.26M
$10.90M
$8.48M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$339,888
Tax year 2022
Assessed value
$46,305,000
Assessed 2022
Previous assessed
$46,305,000
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$8,444,300
Assessed improvement
$37,860,700
Land market value
$8,444,300
Improvement market value
$37,860,700
Total market value
$46,305,000
Applied tax rate
2,025.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
2003
Construction
CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
110,708 SF
Lot
1.55 ac (67,555 SF)
Zoning code
TWNC
APN
720241-0130
UPID
US90-2303114
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TWNC · Redmond, WAZoning TWNC · permitted uses
TWNC · Redmond, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
(OT), Anderson Park (AP), Town Center (TWNC), Valley View (VV), Trestle (TR), Bear Creek (BC), Sammamish Trail (SMT), Town Square (TSQ), River Bend (RVBD), River Trail (RVT), Carter (CTR), East Hill (EH) • Overlake Mixed…
General category
RESIDENTIAL
Building & site characteristics
From public records
Year built
2003
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
1.55 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
TWNC
RESIDENTIAL
Jurisdiction
Redmond, WA
Recorded code
TWNC
Official district
TWNC
Official district profile
What the municipal code says about TWNC
Zoning description
(OT), Anderson Park (AP), Town Center (TWNC), Valley View (VV), Trestle (TR), Bear Creek (BC), Sammamish Trail (SMT), Town Square (TSQ), River Bend (RVBD), River Trail (RVT), Carter (CTR), East Hill (EH) • Overlake Mixed…
General category
RESIDENTIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for TWNC in Redmond, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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