3003 Northup Way Bellevue, WA 98004
2.54-acre site with redevelopment potential in Bellevue.
Property size:
30,654 SFLot size:
2.40 AcresProperty Features for 3003 Northup Way
General Information
- Standard status
- Active
- Zoning
- OLB - Office and Limited Business
- Size
- 30,654 SF
- Lot size
- 2.40 Acres
Building Details
- Year built
- 1969
Source:
Crexi
Listing Agency: Northmarq - Seattle Listing Agent: Rj Vara
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Bellevue Covered Land Opportunity
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.
Location Intelligence
Current Use by Public Records
Kathleen Bargman
Physician
Amanda Stevens
Physician
Suzannee Christensen
Physician
Haley Miller
Physician
Kristin Dato
Physician
Location Insight
- Map
- Local Demand
- City
- Bellevue
- County
- King
- State
- Washington
- Longitude
- -122.1924221
- Latitude
- 47.6379102
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FAQs
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.
