Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2229 112th Ave NE Bellevue, WA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Office building with 24,985 square feet available for rent.

    Type:OFFICE
    Property size:
    24,985 SF
    Lot size:
    1.32 Acres
    Price / SF:
    $450/SF
    Added:
    Aug 3, 2023
    Days on Market:
    1002
    Last Refresh:
    Apr 5 at 8:30 pm

    Property Features for 2229 112th Ave NE

    General Information

    Standard status
    Active
    Size
    24,985 SF
    Lot size
    1.32 Acres
    Property subtype
    OFFICE

    Properties For Sale

    at 2229 112th Ave NE Contact us

    We can help!

    Listing Contact
    Jeff Scanlan

    Listing agent Jeff Scanlan

    Listing office CBRE

    Listing date Aug 3, 2023

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE

    Overview

    Bellevue Office Space Available

    An office building located in Bellevue, Washington, offers 24,985 square feet of space available for rent. The property is suitable for office use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hanson Baker Ludlow ... Law Firm Amaya Family Law, ... Law Firm Rosenstein Joshua Law Firm Kuno Cynthia A Law Firm Merrill Rachel L Law Firm

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Dental Office Big Box & Wholesale Store Spa & Massage Center Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    King
    State
    Washington
    Longitude
    -122.192
    Latitude
    47.6304

    Nearby Similar for Sale

    • $32
      2,491 SF

      Bellevue Office Space Available Now

      Suburban Bellevue office space with excellent access and amenities.
      1402 140th Place NE, Bellevue, WA 98007
      View Details
    • $32
      7,854 SF

      Bellevue Office Space Available Now

      Office suites available in Bellevue with flexible lease terms.
      1402 140th Place NE, Bellevue, WA 98007
      View Details
    • $2,500,000
      2,327 SF

      Bellevue Office Space For Sale

      Office suites available for owner/user with rental income.
      9 Lake Bellevue Dr, Bellevue, WA 98005
      View Details
    • $150,000
      18,750 SF

      Profitable Automotive Business Opportunity

      Established automotive business for sale in Bellevue's commercial corridor.
      13289 NE 20th St, Bellevue, WA 98005
      View Details
    • $2,500,000
      2,337 SF

      Bellevue Office Condo For Sale

      2,337 RSF office condo with rental income in Bellevue.
      9 Lake Bellevue Dr, Bellevue, WA 98005
      View Details
    • $695,000
      829 SF

      Bellevue Commercial Property for Sale

      Commercial property with 829 square feet available in Bellevue, WA.
      375 118th Ave SE, Bellevue, WA 98005
      View Details
    • Contact for pricing
      6,455 SF

      Retail Space in Bellevue

      Retail space available in Bellevue, Washington.
      10317 Main St, Bellevue, WA 98004
      View Details
    • $4,890,000
      7,686 SF

      Bellevue Freestanding Office Building

      Prime office building near Spring District and future growth.
      12509 NE Bel Red Rd, Bellevue, WA 98005
      View Details
    • $41
      68,996 SF

      Bellevue Office Space Sublease

      Office space with easy access to I-405 and I-90.
      915 118th Ave SE, Bellevue, WA 98005
      View Details
    • $599,000
      1,023 SF

      Bellevue Office Condo For Sale

      Professional office condo in a prime Bellevue location.
      1550 140th Ave NE, Bellevue, WA
      View Details
    • $7,950,000

      Bellevue Multi-Tenant Office Building

      Well-located office building near Bellevue CBD with investment potential.
      1500 112th Ave NE, Bellevue, WA 98004
      View Details
    • $599,000
      1,023 SF

      Bellevue Office Condo For Sale

      Professional office condo in a prime Bellevue location.
      1550 140th Ave NE, Bellevue, WA 98007
      View Details

    FAQs

    What type of property is this?
    Office building - Office building with 24,985 square feet available for rent.
    Where is this office building located?
    The property is located at 2229 112th Ave NE Bellevue, WA.
    What is the asking price?
    The asking price for this property is $11,250,000.
    What are key features of this property?
    This property features: 24,985 square feet available for rent.
    (425) 462-6923 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jeff Scanlan
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!