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

    1515 116Th Ave NE Bellevue, WA 98004

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

    985 SF medical office space available February 1st, 2026.

    Property size:
    985 SF
    Lot size:
    1.81 Acres

    Property Features for 1515 116Th Ave NE

    General Information

    Size
    985 SF
    Lot size
    1.81 Acres

    We can help!

    Listing Contact
    Dan Krekel, Ccim
    Dan Krekel, Ccim
    Source: Moodyscre

    Listing Agency: Leibsohn & Company Listing Agent: Dan Krekel, Ccim

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

    Learn more

    Property Insight Report

    Overview

    Medical Office Space Available

    A 985 square foot office suite is available for rent starting February 1st, 2026. The suite features four exam rooms, a built-in reception desk, a waiting area, an open kitchenette, and an in-suite restroom. It is located in Bellevue, WA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lotzkar Martin DDS Dental Office Rosenwald & Associates Dental Office Cosmos Dentistry Dental Office Bellegrove Professional Park, ... Medical Clinic Matt Rafie DDSPS Dental Office

    Suggested Use

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

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

    Similar Places Nearby

    Midlakes Veterinary Hospital, Animal Wellness and Rehabilitation Center, Loyal Family Veterinary Hospital, International Business Associates, Inc.

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    King
    State
    Washington
    Longitude
    -122.1865615
    Latitude
    47.6239855

    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
    • New
      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
    • New
      Contact for pricing

      Redmond Center

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

      Downtown Bellevue Office Tower Ready

      Office tower in thriving Downtown Bellevue with modern amenities.
      929 108Th Ave NE, 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
    • $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
    • $2,600 /Mo
      1,040 SF

      Boutique Office Building For Rent

      High-image office building with excellent parking and convenient access.
      11555 8Th St, Bellevue, WA 98004
      View Details
    • $15,060 /Mo
      6,024 SF

      Boutique Office Building For Rent

      High-image office building with excellent parking and convenient access.
      11555 8Th St, Bellevue, WA 98004
      View Details
    • Contact for pricing

      Premier Office Space in Bellevue

      Dynamic downtown location with premier office space and unmatched amenities.
      222 112Th Ave NE, Bellevue, WA 98004
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 985 SF medical office space available February 1st, 2026.
    Where is this medical office space located?
    The property is located at 1515 116Th Ave NE Bellevue, WA.
    What are key features of this property?
    This property features: - 4 Exam Rooms ideal for medical or professional use.; - Built-In Reception Desk offers a professional welcome.; - In-Suite Restroom for convenience.
    (425) 586-4655 Call to check price and availability
    Request Owner's contact information
    1515 116Th Ave NE Bellevue, WA 98004
    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.
    1515 116Th Ave NE
    Bellevue, WA 98004
    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
    1515 116Th Ave NE Bellevue, WA 98004
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Dan Krekel, Ccim
    Dan Krekel, Ccim
    Real Estate License ID: 52285
    (425) 586-4655 (425) 455-1777
    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!