Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2509 152nd Avenue NE Redmond, WA 98052

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Commercial real estate space in Redmond's Overlake Business Area.

    Type:Office, Industrial
    Property size:
    371,000 SF
    Added:
    Jun 29, 2023
    Days on Market:
    1025
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 2509 152nd Avenue NE

    General Information

    Standard status
    Active
    Size
    371,000 SF
    Property subtype
    Office, Industrial

    Spaces For Lease

    at 2509 152nd Avenue NE Contact us

    We can help!

    Listing Contact
    Camilla Misa

    Listing agent Camilla Misa License #WA

    Listing office Link Logistics

    Listing date Jun 29, 2023

    Source Crexi

    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 Link Logistics

    Overview

    Redmond Overlake Business Center Space

    Overlake Business Center features over 371,000 square feet of commercial real estate across 20 buildings. It is located in Redmond’s Overlake Business Area, near Microsoft and Nintendo. The property offers office and office/warehouse space.
    Location Intelligence

    Current Use by Public Records

    Chess Insurance Insurance Agency Farmers Insurance - S. ... Insurance Agency Kon Tiki Academy (Bike/Boat/Book/etc) Store Apollo Consulting Group Advertising Agency ConnectedStars (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Similar Places Nearby

    • The Roll Pod — 14320 NE 20th St Suite A, Bellevue, WA 98007

    Location Insight

    • Map
    • Local Demand
    City
    Redmond
    County
    King
    State
    Washington
    Longitude
    -122.1386213
    Latitude
    47.6331183

    Nearby Similar for Lease

    • Contact for pricing

      Redmond Retail Space For Lease

      High-visibility retail space in downtown Redmond, near transit.
      16651 Redmond Way NE, Redmond, WA 98052
      View Details
    • $23/mo

      Redmond Office Space Available

      Professional office space with flexible floor plan and natural light.
      11241 Willows Rd NE, Redmond, WA 98052
      View Details
    • Contact for pricing

      Redmond Two-Story Office Building

      7,788 SF office building in downtown Redmond for lease.
      8405 165th Ave NE, Redmond, WA 98052
      View Details
    • Contact for pricing

      Downtown Redmond Office Space For Rent

      Professional office space in downtown Redmond with natural light.
      16275 85th St, Redmond, WA 98052
      View Details
    • Contact for pricing

      Redmond Office Space For Lease

      Office space near downtown Redmond with convenient transit access.
      16455 85th St, Redmond, WA 98052
      View Details
    • Contact for pricing

      Redmond Office Center - Building 4

      Professional office space in a convenient Redmond location.
      7981 168th Ave NE, Redmond, WA 98052
      View Details
    • Contact for pricing

      Redmond First Floor Office Space

      First floor office space available for lease in Redmond.
      15400 90th St, Redmond, WA 98052
      View Details
    • Contact for pricing

      Redmond First Floor Office Space

      Divisible first floor office space in Redmond available for lease.
      15400 90th St, Redmond, WA 98052
      View Details
    • Contact for pricing

      Downtown Redmond Office Condo For Lease

      Office condo for lease in downtown Redmond with parking.
      16275 85th St, Redmond, WA 98052
      View Details
    • Contact for pricing

      Redmond Office Center - Building 4

      Class B office building in Redmond, renovated in 1995.
      7981 168th Ave NE, Redmond, WA 98052
      View Details
    • Contact for pricing

      Redmond Office Center - Building 4

      Professionally designed office suites in Redmond's dynamic community.
      7981 168th Ave NE, Redmond, WA 98052
      View Details
    • Contact for pricing

      Redmond Dental/Professional Office Space

      Turnkey office space near Downtown Redmond with excellent transit access.
      16455 85th St, Redmond, WA 98052
      View Details

    FAQs

    What type of property is this?
    Flex space - Commercial real estate space in Redmond's Overlake Business Area.
    Where is this flex space located?
    The property is located at 2509 152nd Avenue NE Redmond, WA.
    What are key features of this property?
    This property features: Over 371,000 SF of commercial real estate space.; Located in Redmond's Overlake Business Area.; Adjacent to prominent tech companies (Microsoft, Nintendo).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Camilla Misa
    Real Estate License ID: WA
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!