Leased Medical Office
12301 Northeast 10th Place Bellevue, WA 98005
12301 Northeast 10th Place, Bellevue, WA, 98005
Contact for pricing
For Sale
Contact for pricing
Recently renovated, fully leased medical/office building offering stable, long-term income in Bellevue’s Eastside submarket.
Property Size32,329 SF
Price / SF$556.78
Days on Market79
Property Features for 12301 Northeast 10th Place
General Information
- Standard status
- Active
- Size
- 32,329 SF
- Property subtype
- Office
Building Details
- Year Built
- 1990
Listing agency
Leibsohn & Company Commercial Real Estate Services
(425) 586-4655
Listed by
Dan Krekel · License #WA 52285
Source
Crexi
Added: May 5 Updated: Jul 22 at 10:58AM Checked: Jul 22 at 10:58AM
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 Leibsohn & Company Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This is a fully leased medical/office building in Bellevue with stable, long-term income. The property was recently renovated, with modern common areas designed to support day-to-day operations.
The building is described as being located near Downtown Bellevue, Overlake Medical Center, and SR-520. Zoning is identified as MUR-M, which the remarks cite as providing future redevelopment potential.
The offering is structured as a for-sale opportunity for investors seeking a stabilized, leased medical/office asset with recent common-area updates.
The building is described as being located near Downtown Bellevue, Overlake Medical Center, and SR-520. Zoning is identified as MUR-M, which the remarks cite as providing future redevelopment potential.
The offering is structured as a for-sale opportunity for investors seeking a stabilized, leased medical/office asset with recent common-area updates.
Key Highlights
- Medical/office building built in 1990
- Fully leased with stable, long‑term income
- Recently renovated with modern common areas
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.16M | $36.00 |
| − Vacancy | −$223.5k | −$6.91 |
| EGI | $940.4k | $29.09 |
| − OpEx | −$235.1k | −$7.27 |
| NOI | $705.3k | $21.82 |
32,329 SF · lease $36.00/SF/yr · vacancy 19.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$10.08M
$8.82M – $11.75M
NOI $705,289 @ 7.0% cap · market cap 3.92%
Second Best
Healthcare Medical
$7.50M
$6.56M – $8.75M
NOI $525,126 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$14.96M
$13.09M – $17.46M
NOI $1,047,460 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Premier Periodontics - Bellevue ...
Dental Office
Fernyhough- Laurie
Dental Office
Hope Clinic
Eye Care Center
Northwest Vision Institute, ...
Eye Care Center
Michael Gilbert, MD
Eye Care Center
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- Loyal Family Veterinary Hospital — 677 120th Ave NE #3a, Bellevue, WA 98005
FAQs
What type of property is this?
Medical Office Space - Recently renovated, fully leased medical/office building offering stable, long-term income in Bellevue’s Eastside submarket.
Where is this medical office space located?
The property is located at 12301 Northeast 10th Place Bellevue, WA.
What is the asking price?
The asking price for this property is $18,000,000.
What are key features of this property?
This property features: Medical/office building built in 1990; Fully leased with stable, long‑term income; Recently renovated with modern common areas
