Restaurant Space with Type 1
New
For Sale
$198,000
1336 156th Avenue NE, Bellevue, WA 98007
Located in the Bellevue shopping center, the space is equipped for restaurant use.
Property Size895 SF
Price / SF$221.23
Days on Market3
Property Features for 1336 156th Avenue NE
General Information
Standard status
Active
Size
895 SF
Property subtype
Business Opportunity
Restaurant
Hood Type
Type I
Commercial Hood
Yes
Listing Agency:
RE/MAX Town Center
Listed By:
Amy Wang · License #1110494
(425) 922-1343
Source:
Marypong
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 4 at 2:02PM
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 RE/MAX Town Center
Investment Insights
Based on property information with market context.
This 895-square-foot restaurant space includes a Type 1 hood system. It is situated in the Bellevue shopping center in Bellevue, Washington.
Key Highlights
- 895‑square‑foot restaurant space
- Type 1 hood system
- Located in the Bellevue shopping center in Bellevue, Washington
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,888
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$357,760
$357.8K
Cap Rate 7%
$255,543
$255.5K
Cap Rate 9%
$198,756
$198.8K
Market Conditions
NOI Build-Up for 895 SF
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.
Gross rent
$25.2K $28.20/SF
− Vacancy
−$1.4K −$1.55/SF
EGI
$23.9K $26.65/SF
− OpEx
−$6.0K −$6.66/SF
NOI
$17.9K $19.99/SF
Area
Bellevue, WA
Vacancy
5.50%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$357,760
Cap Rate 7%
$255,543
Cap Rate 9%
$198,756
Alternative Uses
Best Use
Specialty Retail
$255.5K
$223.6K – $298.1K
NOI $17,888 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$414.3K
$362.5K – $483.3K
NOI $28,998 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
1,694
Businesses Nearby
284k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Dining 22%
Groceries 16%
Apparel 10%
Michaels
Shops & Services
34,929 visits/mo
0.3 miles
QFC
Groceries
33,903 visits/mo
0.1 miles
Jo-Ann Fabric and Craft
Shops & Services
28,051 visits/mo
0.2 miles
DICK'S Sporting Goods
Apparel
27,086 visits/mo
0.0 miles
World Market
Home Improvements & Furnishings
22,641 visits/mo
0.1 miles
Demographics for 98007, WA
29,476
Population
12,403
Households
2.4
Avg Household Size
33
Median Age
69%
College-Educated
95%
High-School Grad
4.3 sq mi
ZIP Area
6,855
Density / Sq Mi
$126,814
Median Household Income
$81,818
Median Earnings
$2,276
Median Rent
$934,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Located in the Bellevue shopping center, the space is equipped for restaurant use.
Where is this conventional restaurant located?
The property is located at 1336 156th Avenue NE Bellevue, WA.
What is the asking price?
The asking price for this property is $198,000.
What are key features of this property?
This property features: 895‑square‑foot restaurant space; Type 1 hood system; Located in the Bellevue shopping center in Bellevue, Washington
