Well-Maintained Medical/Dental Building For
For Sale
Contact for pricing
15419 NE 20th St, Bellevue, WA
Fully occupied medical/dental building with modern upgrades and excellent location.
Property Size12,858 SF
Lot Size0.86 Acres
Price / SF$696.06
Days on Market332
Property Features for 15419 NE 20th St
General Information
Standard status
Active
Size
12,858 SF
Lot size
0.86 Acres
Property subtype
OFFICE
Listing Agency:
RE/MAX Northwest Realtors
(360) 920-7053
Listed By:
Ricky Mouw · License #80899
(360) 920-7053
Source:
Moodyscre
Added: Sep 15, 2025
Changed: Aug 8
Last Checked: May 19 at 8:28PM
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 Northwest Realtors
Investment Insights
Based on property information with market context.
This is a fully occupied and well-maintained dental/medical building featuring six suites and modern upgrades. The property includes ADA access with an elevator. It offers sufficient parking, including 18 covered spaces. The building has outstanding frontage, quality, and visibility. Its location is excellent, close to downtown Bellevue, Redmond, Kirkland, the crossroads shopping corridor, and the Microsoft Campus. The property size is 12,858 square feet.
Key Highlights
- Fully occupied Dental / Medical building
- Excellent location near downtown Bellevue, Redmond, Kirkland, crossroads shopping corridor and Microsoft Campus
- Six suites with modern upgrades
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
$280,510
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
3.13%
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%
$5,610,200
$5.6M
Cap Rate 7%
$4,007,286
$4.0M
Cap Rate 9%
$3,116,778
$3.1M
Market Conditions
NOI Build-Up for 12,858 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
$462.9K $36.00/SF
− Vacancy
−$88.9K −$6.91/SF
EGI
$374.0K $29.09/SF
− OpEx
−$93.5K −$7.27/SF
NOI
$280.5K $21.82/SF
Area
Bellevue, WA
Vacancy
19.20%
Lease Rate
$36.00 /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%
$5,610,200
Cap Rate 7%
$4,007,286
Cap Rate 9%
$3,116,778
Alternative Uses
Best Use
Office B
$4.01M
$3.51M – $4.68M
NOI $280,510 @ 7.0% cap · market cap 3.13%
Second Best
Healthcare Medical
$2.98M
$2.61M – $3.48M
NOI $208,855 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$5.95M
$5.21M – $6.94M
NOI $416,599 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,286
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pet Care Clinic — 14504 NE 20th St, Bellevue, WA 98007
- Companion Animal Hospital — 1827 156th Ave NE, Bellevue, WA 98007
- Banfield Pet Hospital — 15445 NE 24th St, Bellevue, WA 98007
- Crossroads Vet — 15600 NE 8th St suite O-6, Bellevue, WA 98008
- Reliable Vet Relief — 2454 160th Ave NE, Bellevue, WA 98008
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully occupied medical/dental building with modern upgrades and excellent location.
Where is this medical office space located?
The property is located at 15419 NE 20th St Bellevue, WA.
What is the asking price?
The asking price for this property is $8,950,000.
What are key features of this property?
This property features: Fully occupied Dental / Medical building; Excellent location near downtown Bellevue, Redmond, Kirkland, crossroads shopping corridor and Microsoft Campus; Six suites with modern upgrades
