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    Premier Office Space in Bellevue Title is generated by Realmo AI

    222 112th Ave NE, Bellevue, WA 98004

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    Dynamic downtown location with premier office space and unmatched amenities.

    Type:Office
    Property size:
    780,000 SF
    Added:
    Jan 27, 2026
    Days on Market:
    128
    Last Refresh:
    Apr 5 at 11:32 pm

    Property Features for 222 112th Ave NE

    General Information

    Standard status
    Active
    Size
    780,000 SF
    Property subtype
    Office

    Spaces For Lease

    at 222 112th Ave NE Contact us

    We can help!

    Listing Contact
    Joe Lynch

    Listing agent Joe Lynch License #01978118

    Listing office PMZ Real Estate

    Listing date Jan 27, 2026

    Source Nmrk

    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 PMZ Real Estate

    HighLights

    • Unmatched HQ signage opportunity with prime visibility to 200K cars daily on I‑405.
    • Best location in Bellevue with direct access to light rail, I‑405, and bike paths.
    • Best‑in‑class lifestyle amenities alongside 15K SF of thoughtfully curated retail.
    • Flexible floor plates ranging from 21‑65K SF with both center and side‑loaded cores.
    • 780K SF of premier space across two 15‑story towers, each rising at the 4th floor.
    • Located in a dynamic downtown, near by the Downtown Park and Botanical Garden and stands only steps away from the newly expanded Light Rail.

    Overview

    This office property is available for lease in a dynamic downtown Bellevue location, near the Downtown Park and Botanical Garden. The property is steps away from the newly expanded Light Rail and adjacent to I-405, offering commuters convenient transportation options. It features 780,000 square feet of premier space across two 15-story towers, each rising from the 4th floor. The location provides direct access to light rail, I-405, and bike paths. The property offers flexible floor plates ranging from 21,000 to 65,000 square feet with both center and side-loaded cores. It includes best-in-class lifestyle amenities alongside 15,000 square feet of thoughtfully curated retail. The property also presents an unmatched headquarters signage opportunity with prime visibility to 200,000 cars daily on I-405. The building features 14-foot floor-to-floor heights with full-height glass.
    Property Profile Location Intelligence

    Current Use by Public Records

    Spoorthi Velagapalli, MD Physician Barbara Schustek Physician Dennis Cobb Physician Monique Berces-Mardenly, NP Physician Michael Morris, MD Physician

    Suggested Use

    Restaurant Law Firm Hair Salon Spa & Massage Center Dental Office Nail Salon Daycare Center Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    King
    State
    Washington
    Longitude
    -122.19
    Latitude
    47.6127

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    FAQs

    What type of property is this?
    Office building - Dynamic downtown location with premier office space and unmatched amenities.
    Where is this office building located?
    The property is located at 222 112th Ave NE Bellevue, WA.
    What are key features of this property?
    This property features: Unmatched HQ signage opportunity with prime visibility to 200K cars daily on I‑405.; Best location in Bellevue with direct access to light rail, I‑405, and bike paths.; Best‑in‑class lifestyle amenities alongside 15K SF of thoughtfully curated retail.
    (425) 362-1399
    We can help!
    Listing Contact
    Joe Lynch
    Real Estate License ID: 01978118
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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
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