Elevator-Served Office
640 NW Gilman Blvd Issaquah, WA 98027
New
For Sale
Contact for pricing
Two-story office building with elevator service, renovated in 2021, and 47 parking stalls including covered spaces.
Property Size12,243 SF
Lot Size0.90 Acres
Price / SF$481.91
Days on Market5
Property Features for 640 NW Gilman Blvd
General Information
- Standard status
- Active
- Size
- 12,243 SF
- Lot size
- 0.90 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1987
Listing Agency:
Rosen Harbottle Commercial Real Estate
Listed By:
Brian Stewart · License #WA 27173
Source:
Crexi
Added: Jul 21
Changed: Jul 24
Last Checked: Jul 24 at 9:55AM
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 Rosen Harbottle Commercial Real Estate
Investment Insights
Based on property information with market context.
The Forum Building is a two-story, elevator-served office property built in 1987 and renovated in 2021. The building includes recent capital improvements such as roof recovery in 2019 with a 15-year warranty, most HVAC systems replaced in 2020–2021, and common areas renovated during 2019–2021. Up to 8,704 square feet is described as available for owner/user occupancy.
The property is located at 640 NW Gilman Boulevard in Issaquah, Washington, and is zoned Mixed Use Central Issaquah. The site includes 47 parking stalls, including covered spaces, and is positioned near retail amenities with quick access to I-90.
For buyers evaluating future flexibility, the property description notes up to 85 feet of redevelopment potential under the current zoning.
The property is located at 640 NW Gilman Boulevard in Issaquah, Washington, and is zoned Mixed Use Central Issaquah. The site includes 47 parking stalls, including covered spaces, and is positioned near retail amenities with quick access to I-90.
For buyers evaluating future flexibility, the property description notes up to 85 feet of redevelopment potential under the current zoning.
Key Highlights
- Two‑story, elevator‑served office building built in 1987 and renovated in 2021
- 12,243 SF building area on 39,004 SF of land, with up to 8,704 SF available for owner/user occupancy
- 47 parking stalls total, including covered spaces
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 | $440.7k | $36.00 |
| − Vacancy | −$96.5k | −$7.88 |
| EGI | $344.2k | $28.12 |
| − OpEx | −$86.1k | −$7.03 |
| NOI | $258.2k | $21.09 |
12,243 SF · lease $36.00/SF/yr · vacancy 21.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.69M
$3.23M – $4.30M
NOI $258,168 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.90M
$4.29M – $5.72M
NOI $343,255 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Two-story office building with elevator service, renovated in 2021, and 47 parking stalls including covered spaces.
Where is this office building located?
The property is located at 640 NW Gilman Blvd Issaquah, WA.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Two‑story, elevator‑served office building built in 1987 and renovated in 2021; 12,243 SF building area on 39,004 SF of land, with up to 8,704 SF available for owner/user occupancy; 47 parking stalls total, including covered spaces
