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    1505 Gilman Blvd Issaquah, WA 98027

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    For Lease
    $5,548 /Mo ($44 SF/Yr)

    Medical office space with procedure and exam rooms available for rent.

    Property size:
    1,513 SF
    Lot size:
    1,513 SF

    Property Features for 1505 Gilman Blvd

    General Information

    Standard status
    Active
    Size
    1,513 SF

    Building Details

    Year built
    1979

    We can help!

    Listing Contact
    Kelly Richardson, Ccim
    Source: Corcoran

    Listing Agency: ROWLEY PROPERTIES, INC. Listing Agent: Kelly Richardson, Ccim

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

    Learn more

    Overview

    Medical Office Space in Issaquah

    This medical office space, suitable for clinical use, is located on Gilman Blvd in Issaquah. The office features a procedure room, two exam rooms equipped with sinks, a generously sized lobby, and a large reception desk with built-in cabinets. It also includes an en suite restroom. The property is situated at the gateway to Issaquah at I-90 Exit 15, offering excellent access via SR 900, Gilman Blvd, and I-90, which sees approximately 128,000 vehicles per day. Its location provides convenient access to surrounding areas, being 20 minutes from Seattle and 15 minutes from Bellevue. Recreational opportunities are also nearby, with trails just 5 minutes away, and close proximity to Lake Sammamish and Tibbetts Valley Park. The property is within walking distance of restaurants, banks, fitness options, and retail establishments, and is near the Issaquah Transit Center. The surrounding neighborhood is active and high-energy, with strong commerce.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    Issaquah Veterinary Hospital, Annotto Bay Veterinary Clinic, Dr. Joan Zimbelman, D.V.M., Cobblestone Animal Hospital, Dr. Kim Rice, D.V.M.

    Location Insight

    • Map
    • Local Demand
    City
    Issaquah
    County
    King
    State
    Washington
    Longitude
    -122.0601912
    Latitude
    47.5450945

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    FAQs

    What type of property is this?
    Medical Office Space - Medical office space with procedure and exam rooms available for rent.
    Where is this medical office space located?
    The property is located at 1505 Gilman Blvd Issaquah, WA.
    What is the lease rate?
    The lease rate is $44 SF/Yr.
    What are key features of this property?
    This property features: - Ideal for medical/clinical use with PROCEDURE ROOM and TWO EXAM ROOMS with sinks.; - Prime location at the Gateway to Issaquah (I-90 Exit 15) with excellent access and high traffic (128k vehicles/day).; - Convenient access to Seattle (20 min), Bellevue (15 min), and nearby trails (5 min).
    (425) 864-6048
    Request Owner's contact information
    1505 Gilman Blvd Issaquah, WA 98027
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    Issaquah, WA 98027
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    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
    1505 Gilman Blvd Issaquah, WA 98027
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    We can help!
    Listing Contact
    Kelly Richardson, Ccim
    (425) 864-6048 (425) 395-9580
    Learn more
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