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

    12402 SE 38Th Pl, Unit Bellevue WA USA Bellevue, WA 98006

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    11,701 SF retail space with excellent street frontage.

    Property Features for 12402 SE 38Th Pl

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Ryan Olson
    Source: Crexi

    Listing Agency: Colliers - Bellevue, Washington Listing Agent: Ryan Olson

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

    Learn more

    Overview

    Bellevue Retail Space For Lease

    The available retail space encompasses the entire first floor, offering 11,701 square feet. The space features one 10-foot by 14-foot rollup door and ceiling heights ranging from 12 to 16 feet. Abundant natural light fills the spacious and configurable layout. Rear access is available for deliveries or staff movement. Ample drive-up parking stalls are provided, along with two restrooms and designated entry zones. On-building signage opportunities are available. The property benefits from excellent street frontage and visibility, as well as steady foot traffic and proximity to major retailers and restaurants. Its location provides excellent commuter and shopper access due to its close proximity to major freeways. Nearby residential communities and office parks contribute a strong, built-in customer base. The intended use of the property is retail.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon 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
    -122.1773446
    Latitude
    47.576392

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      WA, Bellevue - SE 32nd

      Workspaces, services and support to help you work better in FL, Winter Haven - 316 Avenue
      12822 32 Ct, Bellevue, WA 12822
      View Details
    • Contact for pricing

      WA, Bellevue - NE 4th St

      Flexible workspace in PA, Greensburg - Main St
      10655 4Th St, Bellevue, WA 10655
      View Details
    • Contact for pricing

      Bellevue Skyline Tower

      Discover many ways to work your way in Bellevue Skyline Tower
      10900 4Th St, Bellevue, WA 98004
      View Details
    • Contact for pricing

      Redmond Center

      Discover many ways to work your way in Redmond Center
      2018 156Th Ave, Bellevue, WA 98007
      View Details
    • Contact for pricing

      Bellefield Office Park

      Discover many ways to work your way in Bellefield Office Park
      1400 112Th Ave, Bellevue, WA 98004
      View Details
    • Contact for pricing

      Ridgewood Corporate Square

      Discover many ways to work your way in Ridgewood Corporate Square
      11900 1St St, Bellevue, WA 98005
      View Details
    • Contact for pricing

      Downtown Bellevue Office Tower

      Modern office tower in thriving Downtown Bellevue.
      929 108Th Ave NE, Bellevue, WA 98004
      View Details
    • Contact for pricing
      30,659 SF

      Bellevue Office Space Available Now

      Office space for rent with excellent freeway access and parking.
      301 116Th Ave Southeast, Bellevue, WA 98004
      View Details
    • $6,643 /Mo
      2,491 SF

      Bellevue Suburban Office Space Available

      Office space for lease in a well-maintained Bellevue building.
      1402 140Th Pl NE, Bellevue, WA 98007
      View Details
    • $50 SF/Yr
      2,935 SF

      Suburban Bellevue Office Building

      Well-maintained office building with freeway access and free parking.
      11711 Southeast 8Th St, Bellevue, WA 98005
      View Details
    • $30 SF/Yr

      Boutique Office Building in Bellevue

      High-image office building with excellent parking and access.
      11555 Southeast 8Th St, Bellevue, WA 98005
      View Details
    • $89,010
      23,736 SF

      Bellevue Retail, Office, Fitness Space

      Retail, office, fitness, or educational space available immediately.
      10708 Main St, Bellevue, WA 98004
      View Details

    FAQs

    What type of property is this?
    Retail space - 11,701 SF retail space with excellent street frontage.
    Where is this retail space located?
    The property is located at 12402 SE 38Th Pl, Unit Bellevue WA USA Bellevue, WA.
    What are key features of this property?
    This property features: - Excellent street frontage and visibility with on-building signage available.; - Abundant natural light and spacious, configurable 11,701 SF layout.; - Ample drive-up parking stalls and designated entry zones.
    Request Owner's contact information
    12402 SE 38Th Pl, Unit Bellevue WA USA Bellevue, WA 98006
    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.
    12402 SE 38Th Pl, Unit Bellevue WA USA
    Bellevue, WA 98006
    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
    12402 SE 38Th Pl, Unit Bellevue WA USA Bellevue, WA 98006
    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

    We can help!
    Listing Contact
    Ryan Olson
    Real Estate License ID: 29573
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!