Bellevue Covered Land
For Sale
Contact for pricing
3003 Northup Way, Bellevue, WA 98004
2.54-acre site with redevelopment potential in Bellevue.
Property Size30,654 SF
Lot Size2.54 Acres
Days on Market197
Property Features for 3003 Northup Way
General Information
Standard status
Active
Size
30,654 SF
Lot size
2.54 Acres
Property subtype
Industrial, Land, Office
Zoning
OLB - Office and Limited Business
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
1969
Year Renovated
1990
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Northmarq - Seattle
Listed By:
RJ Vara · License #135292
Source:
Crexi
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 12 at 11:32AM
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 Northmarq - Seattle
Investment Insights
Based on property information with market context.
This 2.54-acre covered land opportunity is located off SR-520 along Northup Way in Bellevue. The infill site offers immediate control of a highly accessible parcel with redevelopment potential. The functional site layout supports a range of future uses, including townhomes, senior housing, or multifamily development. The four-suite provides stable cash flow with in-place rents approximately 14.7% below market, near-term lease rollover, and supplemental parking income that offset holding costs while preserving redevelopment optionality. Bellevue is a premier employment hub, with more than 150,000 jobs today and projected growth to nearly 193,000 by 2035. Major employers include Amazon, Meta, and Microsoft, which continue to drive demand across the Bellevue-Redmond corridor. From 2018 to 2023, Bellevue added over 10,000 jobs and saw approximately 39% growth in median household income. The Bel-Red Corridor alone is expected to add roughly 10,000 jobs and 5,000 housing units by 2030, reinforcing the property’s positioning as a high-demand covered land investment with multiple execution paths. The property size is 30654 square feet.
Key Highlights
- Prime Bellevue location with high accessibility.
- 2.54‑acre infill site with redevelopment potential.
- Stable cash flow from existing structure with below‑market rents.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,430
Businesses Nearby
Explore this area
Business Placement
Demographics for 98004, WA
39,136
Population
20,977
Households
1.9
Avg Household Size
37
Median Age
76%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
5,361
Density / Sq Mi
$176,367
Median Household Income
$120,667
Median Earnings
$2,706
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - 2.54-acre site with redevelopment potential in Bellevue.
Where is this commercial land located?
The property is located at 3003 Northup Way Bellevue, WA.
What are key features of this property?
This property features: Prime Bellevue location with high accessibility.; 2.54‑acre infill site with redevelopment potential.; Stable cash flow from existing structure with below‑market rents.
