Family Restaurant with Type II
For Sale
$400,000
123 123ST, Bellevue, WA 98005
Restaurant space in Bellevue with Type II hood, walk-in refrigerator, and seating for up to 95 guests plus outdoor seating.
Property Size2,950 SF
Price / SF$135.59
Days on Market158
Property Features for 123 123ST
General Information
Standard status
Active
Size
2,950 SF
Property subtype
Commercial
Restaurant
Seating Capacity
95
Hood Type
Type II
Commercial Hood
Yes
Patio
Yes
Listing Agency:
Skyline Properties,Inc.
Listed By:
Amir Rashidi
(206) 498-2290
Source:
Skylineproperties
Added: May 30
Changed: Nov 1
Last Checked: Nov 1 at 6:12AM
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 Skyline Properties,Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This well-established family restaurant features a functional kitchen and dining layout designed for efficient operations. The space is approximately 2,950 square feet and provides seating for up to 95 guests, with additional outdoor seating to expand the dining experience. Kitchen and food-prep amenities include a Type II hood and a walk-in refrigerator.
Ample parking is available, including 10 assigned spaces plus abundant guest parking, supporting convenient arrival for both staff and patrons. The property is offered as a turnkey restaurant opportunity, suitable for an owner-operator or an investor looking for a ready-to-run concept.
For day-to-day restaurant operations, the combination of a practical interior layout, commercial kitchen equipment, and flexible indoor-outdoor seating helps support consistent service during peak hours.
Ample parking is available, including 10 assigned spaces plus abundant guest parking, supporting convenient arrival for both staff and patrons. The property is offered as a turnkey restaurant opportunity, suitable for an owner-operator or an investor looking for a ready-to-run concept.
For day-to-day restaurant operations, the combination of a practical interior layout, commercial kitchen equipment, and flexible indoor-outdoor seating helps support consistent service during peak hours.
Key Highlights
- Approximately 2,950 square feet restaurant space
- Seats up to 95 guests with additional outdoor seating
- Type II hood in the kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,188
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$543,760
$543.8K
Cap Rate 7%
$388,400
$388.4K
Cap Rate 9%
$302,089
$302.1K
Market Conditions
NOI Build-Up for 2,950 SF
Gross rent
$42.1K $14.28/SF
− Vacancy
−$3.3K −$1.11/SF
EGI
$38.8K $13.17/SF
− OpEx
−$11.7K −$3.95/SF
NOI
$27.2K $9.22/SF
Area
Bellevue, WA
Vacancy
7.80%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$543,760
Cap Rate 7%
$388,400
Cap Rate 9%
$302,089
Alternative Uses
Best Use
Specialty Retail
$842.3K
$737.0K – $982.7K
NOI $58,961 @ 7.0% cap · market cap 14.74%
Second Best
Industrial
$388.4K
$339.9K – $453.1K
NOI $27,188 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$1.37M
$1.19M – $1.59M
NOI $95,580 @ 7.0% cap · market cap 23.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 98005, WA
20,961
Population
9,420
Households
2.2
Avg Household Size
36
Median Age
71%
College-Educated
95%
High-School Grad
7.3 sq mi
ZIP Area
2,871
Density / Sq Mi
$158,396
Median Household Income
$87,000
Median Earnings
$2,380
Median Rent
$1,373,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant space in Bellevue with Type II hood, walk-in refrigerator, and seating for up to 95 guests plus outdoor seating.
Where is this conventional restaurant located?
The property is located at 123 123ST Bellevue, WA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Approximately 2,950 square feet restaurant space; Seats up to 95 guests with additional outdoor seating; Type II hood in the kitchen
