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

    127 Bellevue Way SE Bellevue, WA 98004

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

    Recently upgraded office building near transit and amenities.

    Type:Office
    Added:
    Sep 16, 2025
    Days on Market:
    204
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 127 Bellevue Way SE

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1985

    Spaces For Lease

    at 127 Bellevue Way SE Contact us

    Suite 200 $32 /Mo

    Size
    6,161 SF
    Type
    Office
    Entire top floor available with private deck. Significant exterior and interior upgrades...
    show more
    Contact us

    We can help!

    Listing Contact
    Robert Messmer

    Listing agent Robert Messmer License #1146

    Listing office RGM Commercial Real Estate

    Listing date Sep 16, 2025

    Source Crexi

    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 RGM Commercial Real Estate

    Overview

    Upgraded Office Space in Bellevue

    This office building, located in Bellevue, Washington, underwent significant exterior and interior upgrades in 2021. The property is situated within walking distance of a bus line and the diverse selection of restaurants and boutique shops on Main Street in Old Bellevue. The DT Bellevue Link light rail station is also a short walk away. CenturyLink Business and CenturyLink Fiber services are available.
    Location Intelligence

    Current Use by Public Records

    Jibe Consulting, Inc. Business Management Consultant Ryan Tagg Real ... Real Estate Agency Providential Real Estate Real Estate Agency Zax LLC Accounting Software Company Innovation Realty Partners, ... Construction Company

    Suggested Use

    Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    King
    State
    Washington
    Longitude
    -122.2020592
    Latitude
    47.6088673

    Nearby Similar for Lease

    • $31/mo

      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
    • Sponsored
      Contact for pricing

      WA, Bellevue - SE 32nd

      12822 32 Ct, Bellevue, WA 12822
      View Details
    • Contact for pricing

      Bellevue Skyline Tower

      10900 4Th St, Unit 2300, Bellevue, WA 98004
      View Details
    • Contact for pricing

      Bellefield Office Park

      1400 112Th Ave, Unit 100, Bellevue, WA 98004
      View Details
    • Contact for pricing

      Redmond Center

      2018 156Th Ave, Unit F, Bellevue, WA 98007
      View Details
    • Contact for pricing

      WA, Bellevue - NE 4th St

      10655 4Th St, Unit 6TH, Bellevue, WA 10655
      View Details
    • Contact for pricing

      Bellevue Retail Space Near Meta

      Retail spaces near future Meta campus and light rail station.
      12031 Northup Way, Bellevue, WA 98005
      View Details
    • Contact for pricing

      Bellevue Retail Space Near Meta

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

      Bellevue Retail Space Near Meta

      Retail space near future Meta campus and light rail station.
      12121 Northup Way, Bellevue, WA 98005
      View Details
    • Contact for pricing

      Bellevue Office Space Available

      Office space for lease in Bellevue, great location.
      1407 116th Ave NE, Bellevue, WA 98004
      View Details
    • Contact for pricing

      Bellevue Office Space for Lease

      Office space in Bellevue with freeway access and parking.
      1407 116th Ave NE, Bellevue, WA 98004
      View Details
    • Contact for pricing

      Bellevue Suburban Office Space Available

      Office space for lease in a well-maintained Bellevue building.
      1402 140th Pl NE, Bellevue, WA 98007
      View Details

    FAQs

    What type of property is this?
    Office building - Recently upgraded office building near transit and amenities.
    Where is this office building located?
    The property is located at 127 Bellevue Way SE Bellevue, WA.
    What are key features of this property?
    This property features: Prime location: Steps from Old Bellevue's restaurants and shops, short walk to the DT Bellevue Link light rail station.; Significant exterior and interior upgrades in 2021.; Convenient access to public transportation: Steps from bus line.
    (425) 452-3052 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robert Messmer
    Real Estate License ID: 1146
    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!