1407 116Th AveBellevue, WA 98004

Property Details for 1407 116Th Ave

Year built

1979

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.90 AC

Property size (Sq ft)

51,374 SF

Zone code

BR-MO

Property type

Office properties

Property subtype

Office buildings

APN

292505-9023

APU

2925059023

Description

This exceptional office property, located at 1407 116th Ave NE in Bellevue, WA 98004, offers a total of 98,785 square feet across two stories, built in 1979. Currently, there are multiple tenancies available, ranging from 1,652 square feet to the total 6,618 square feet of vacant space. The building boasts a convenient location within an office campus setting, providing excellent freeway access and proximity to downtown Bellevue amenities, including numerous restaurants. The property is ideal for general office or professional services, including medical practices. Parking is a significant advantage, with a generous ratio of 3.04 spaces per 1,000 square feet. This includes free surface parking and reserved garage parking available at a monthly rate of $75 per stall. Additional parking may be available for medical tenants. Lease terms are full-service, including base year rent, janitorial services, and in-suite utilities. Rental rates are negotiable. King County location.

• CAP approach

  CAP return

  Valuation

  6%

  $11,301,006

  6.5%

  $10,431,697

  7%

  $9,686,576

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,318,600

  Geo Method

  $9,893,605

• Alternative Use

  Use

  Valuation

  Residential

  $12,935,305

  Hospitality

  $11,848,670

  Educational

  $9,857,954

  Medical

  $10,196,984

  Retail

  $15,334,595

Location Insight

City

Bellevue

County

King

State

Washington

Latitude

47.6233

Longitude

-122.186

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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