Commercial · Bellevue · Seattle-Bellevue metro, WA
One of 259 reachable commercial buildings in Bellevue. Larger than 78% of commercial buildings in Bellevue (median 12,599 SF), derived from assessor records.
Usable building area
74,562 SF, King County Assessor
Lot size
143,834 SF, King County Assessor
Year built
1997, King County Assessor
Stories
3, King County Assessor
Predominant use
Hotel/Motel, King County Assessor
Assessed value
$22,385,700, per the King County Assessor (not a market appraisal)
Assessed value per usable SF
$300.23/SF, derived from assessor records
Usable area / lot
0.52, derived from assessor records
Vintage
1990s vintage
Zoning
OLB, King County
County use code
Hotel/Motel
Nearby comparable buildings
Same building type, by distance. Assessor facts only; not an opinion of value.
MakeMe Estimate: $25.2M (estimated market value), with a likely range of $20.9M to $30.4M (half of recent verified sales in this segment landed inside that range). Based on 4 verified arm's-length comparable sales (through 2026-06-01). Not an appraisal. How this estimate works.
lower confidence: 2 comparable sales within 3 miles; nearest 2.6 mi. This property type carries wider measured error; treat the estimate as a starting point. Recent sale check: this building sold for $23,250,000 in 2025; the estimate is about 9% apart. Treat the recorded trade as strong evidence alongside the model.
Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. Buyer and seller names are withheld. Get this data via API.
Market context: Commercial in Bellevue
median verified sale $495.18/SF over the trailing 24 months; 4 sales in the last 12 months and 7 in 24 (newest verified sale 2026-04).
2023: $889.55/SF median (4 sales)
2024: $1,041/SF median (4 sales)
Computed from 172 verified arm's-length sales in King County public records (7 in the trailing 24 months). Free public records. Not an appraisal.
Last sold: 2025-06-10 for $23,250,000 (recorded arm's-length sale).
Current ownership dates to 2025 per recorded transfers.
2025-06-10: $23,250,000 from Hit SMT Belwa Owner LLC to Trimark Bellevue Hospitality LLC, rec. 20250611000424
2016-02-04: $32,532,070 from Summit Hospitality I LLC to Arc Hospitality SMT Fis Belwa Owner LLC, rec. 20160216001755
2004: transferred to Summit Hospitality I LLC, no consideration (3 recorded transfers, 1996 to 2004)
1996-06-28: $850,000 from HMH Realty Company INC to Summit Group INC the, rec. 199607020796
1996: transferred to HMH Realty Company INC, no consideration (2 recorded transfers, 1995 to 1996)
Source: King County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.
Value over time
Dark line: county assessed value per King County tax rolls. Blue line: our estimate; dashed years are a modeled backcast built from recorded arm's-length sales in the building's segment, not estimates published at the time, and years without enough sales stay unmodeled. The shaded range is the model's measured error band; about half of verified sales in the segment land inside it. Diamonds: recorded arm's-length sales. Not an appraisal. How this estimate works.
Land, site, and value history
Assessed value moved from $9,300,000 (2011) to $22,385,700 (2026), up 141% over 15 years, per county tax rolls. The 2026 roll splits $22,385,700 into $9,349,200 land and $13,036,500 improvements.
Zoning: OLB (per King County)
Lot: 143,834 sq ft
Water: Water District (per King County)
Sewer: Public (per King County)
Access: Public
Street surface: Paved
Floor and use mix: Hotel, Limited Service Midscale 74,562 SF (county building sections)