Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Bellevue Office Space for Rent Title is generated by Realmo AI

    123 112th Ave NE, Bellevue, WA 98004

    View on Map
    Claim this Listing
    For Lease
    $4,130/Mo $35 SF/Yr (calc)

    Office suite with window line, kitchenette, and parking.

    Type:Commercial
    Property size:
    1,416 SF
    Added:
    Jan 21, 2026
    Days on Market:
    138
    Last Refresh:
    Apr 5 at 11:22 pm

    Property Features for 123 112th Ave NE

    General Information

    Standard status
    Active
    Size
    1,416 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2004

    We can help!

    Listing Contact
    ANN BISHOP

    Listing agent ANN BISHOP

    Listing office WALLACE PROPERTIES, INC.

    Listing date Jan 21, 2026

    Source Corcoran

    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 WALLACE PROPERTIES, INC.

    HighLights

    • Convenient location: Walking distance to transit center, restaurants, parks, shopping, and coffee shops.
    • Close proximity to 405 on‑ramp for easy commuting.
    • Suite 1 offers 1,416 RSF with extensive window line and kitchenette.
    • Includes 3 private offices and 6 partitioned offices.
    • Rental rate: $35/SF/YR/Gross.
    • 20 on‑site parking stalls shared among commercial tenants.

    Overview

    This commercial space, consisting of 1,416 rentable square feet, is available for rent. The suite features an extensive window line, a kitchenette, three private offices, and six partitioned offices. It is located directly off 112th Avenue NE, offering close proximity to the 405 on-ramp. The location provides convenient access to a transit center, restaurants, parks, shopping, and coffee shops. There are 20 on-site parking stalls shared among the commercial tenants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Excalibur Apartment Homes Real Estate Agency Accommodations Plus Hotel & Motel Flyu Technology Inc Electronics & Wireless Store Allay Digital Advertising Agency Apartment Advantage Staffing ... Employment Agency

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Daycare Center Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    King
    State
    Washington
    Longitude
    -122.191
    Latitude
    47.6116

    Nearby Similar for Lease

    • $129-$9,956/Mo
      11-1,292 SF

      Bellevue Skyline Tower

      10900 4Th St, Unit 2300, Bellevue, WA 98004
      View Details
    • $129-$8,046/Mo
      11-1,292 SF

      Bellefield Office Park

      1400 112Th Ave, Unit 100, Bellevue, WA 98004
      View Details
    • $129-$6,556/Mo
      11-1,292 SF

      Redmond Center

      2018 156Th Ave, Unit F, Bellevue, WA 98007
      View Details
    • $1,200/Mo
      311 SF

      Executive Office Suite with Conference Rooms

      Suite includes shared conference rooms, kitchenettes, and a waiting area with grade-level access.
      1601 116th Ave, Bellevue, WA 98004
      View Details
    • $129-$7,926/Mo
      11-1,292 SF

      Ridgewood Corporate Square

      11900 1St St, Unit 300, Bellevue, WA 98005
      View Details
    • $8,633/Mo
      3,837 SF

      Bellevue Flex Space Available

      Flex space with office and warehouse components, convenient location.
      14236 21st St, Bellevue, WA 98007
      View Details
    • $7,894/Mo
      2,153 SF

      Retail Space with High Power

      Retail space available with 600 Amps of power.
      3550 128th Avenue SE, Bellevue, WA 98006
      View Details
    • $31 SF/Yr
      3,343 SF

      Retail/Office Space on NE 20th

      Retail/office space with high visibility, available October 1, 2025.
      13010 NE 20th St, Bellevue, WA 98005
      View Details
    • $2,500/Mo
      1,165 SF

      Prime Retail Space in Bellevue

      Retail space in high-traffic Bellevue corridor near major tech companies.
      14510 20th Street, Bellevue, WA 98007
      View Details
    • $30 SF/Yr
      16,233 SF

      Boutique Office Building in Bellevue

      High-image office building with excellent parking and access.
      11555 Southeast 8th Street, Bellevue, WA 98005
      View Details
    • $3,521/Mo
      1,625 SF

      Bellevue Retail Space Near Meta

      Retail spaces near future Meta campus and light rail station.
      12031 Northup Way, Bellevue, WA 98005
      View Details
    • $3,512/Mo
      1,621 SF

      Bellevue Retail Space Near Meta

      Retail space near future Meta campus and light rail.
      12121 Northup Way, Bellevue, WA 98005
      View Details

    FAQs

    What type of property is this?
    Office units - Office suite with window line, kitchenette, and parking.
    Where is this office units located?
    The property is located at 123 112th Ave NE Bellevue, WA.
    What is the lease rate?
    The lease rate is $4,130 /Mo.
    What are key features of this property?
    This property features: Convenient location: Walking distance to transit center, restaurants, parks, shopping, and coffee shops.; Close proximity to 405 on‑ramp for easy commuting.; Suite 1 offers 1,416 RSF with extensive window line and kitchenette.
    We can help!
    Listing Contact
    ANN BISHOP
    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

    Thank You for Inquiry
    123 112th Ave NE, Bellevue, WA 98004
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!