Mixed-Use Building with Freeway
371 Gilman Blvd Issaquah, WA 98027
371 Gilman Blvd, Issaquah, WA, 98027
$19,000,000
For Sale
$19,000,000
Mixed-use building with signage and freeway visibility for sale.
Property Size44,343 SF
Price / SF$428.48
Days on Market112
Property Features for 371 Gilman Blvd
General Information
- Standard status
- Active
- Size
- 44,343 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2001
Listing Agency
CUSHMAN & WAKEFIELD
(425) 455-4500
Listed by
BRIAN TOY
Source
Corcoran
Added: Apr 1 Updated: Jul 10 at 12:28 pm Checked: Jul 20 at 4:04 am
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 CUSHMAN & WAKEFIELD
Investment Insights
Based on property information with market context.
This mixed-use building offers an owner-user opportunity with the entire 15,000-square-foot second floor available immediately. The property is zoned for mixed-use and includes building signage with freeway visibility. The building is currently substantially leased, with demo clauses in all leases, allowing for full building availability. The property consists of 18 parcels, providing flexibility for future dispositions. The property has a total size of 44,343 square feet.
Key Highlights
- Entire 15,000sf second floor available immediately
- Mixed Use Zoning
- Building signage available with freeway visibility
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.60M | $36.00 |
| − Vacancy | −$349.6k | −$7.88 |
| EGI | $1.25M | $28.12 |
| − OpEx | −$311.7k | −$7.03 |
| NOI | $935.1k | $21.09 |
44,343 SF · lease $36.00/SF/yr · vacancy 21.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$13.36M
$11.69M – $15.58M
NOI $935,061 @ 7.0% cap · market cap 4.92%
Second Best
Mixed Use
$10.58M
$9.26M – $12.35M
NOI $740,771 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$17.76M
$15.54M – $20.72M
NOI $1,243,236 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Office building - Mixed-use building with signage and freeway visibility for sale.
Where is this office building located?
The property is located at 371 Gilman Blvd Issaquah, WA.
What is the asking price?
The asking price for this property is $19,000,000.
What are key features of this property?
This property features: Entire 15,000sf second floor available immediately; Mixed Use Zoning; Building signage available with freeway visibility
