Renovated Office
For Sale
Contact for pricing
640 NW Gilman Blvd, Issaquah, WA 98027
Owner-user office property with elevator-served second floor, mixed-use zoning, and convenient interstate access.
Property Size8,704 SF
Lot Size0.90 Acres
Price / SF$677.85
Days on Market109
Property Features for 640 NW Gilman Blvd
General Information
Standard status
Active
Size
8,704 SF
Total Parking Spaces
47
Elevators
Yes
Lot size
0.90 Acres
Property subtype
OFFICE
Zoning
Mixed Use Central Issaquah
Additional Details
Highway Access
Yes
Building Details
Year Built
1987
Year Renovated
2021
Listing Agency:
Rosen-Harbottle Commercial R.E
(425) 454-3030
Listed By:
Brian Stewart
(425) 289-2222
Source:
Moodyscre
Added: Jul 21
Changed: Oct 26
Last Checked: Nov 4 at 10:19AM
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 R.E
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Investment Insights
Based on property information with market context.
This office building offers up to 8,704 square feet for an owner-user and includes an elevator-served second floor. Built in 1987 and renovated in 2021, the property features a roof recovered in 2019 with a 15-year warranty. Most of the HVAC systems were replaced or upgraded in 2020–2021.
The property includes 47 parking stalls, including some covered stalls, and provides quick access to I-90. Zoning is Mixed Use Central Issaquah, with redevelopment potential up to 85 feet. The building is surrounded by Gilman Blvd retail amenities and occupies a total land area of 39,004 square feet.
The property includes 47 parking stalls, including some covered stalls, and provides quick access to I-90. Zoning is Mixed Use Central Issaquah, with redevelopment potential up to 85 feet. The building is surrounded by Gilman Blvd retail amenities and occupies a total land area of 39,004 square feet.
Key Highlights
- Up to 8,704 SF available for owner‑user occupancy
- 47 parking stalls, including some covered stalls
- Roof recovered in 2019 with 15‑year warranty
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$183,541
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,670,820
$3.7M
Cap Rate 7%
$2,622,014
$2.6M
Cap Rate 9%
$2,039,344
$2.0M
Market Conditions
NOI Build-Up for 8,704 SF
Gross rent
$313.3K $36.00/SF
− Vacancy
−$68.6K −$7.88/SF
EGI
$244.7K $28.12/SF
− OpEx
−$61.2K −$7.03/SF
NOI
$183.5K $21.09/SF
Area
King County, WA
Vacancy
21.90%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,670,820
Cap Rate 7%
$2,622,014
Cap Rate 9%
$2,039,344
Alternative Uses
Best Use
Office B
$2.62M
$2.29M – $3.06M
NOI $183,541 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $244,032 @ 7.0% cap · market cap 4.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 98027, WA
29,089
Population
12,071
Households
2.4
Avg Household Size
41
Median Age
65%
College-Educated
97%
High-School Grad
57.2 sq mi
ZIP Area
509
Density / Sq Mi
$150,000
Median Household Income
$82,823
Median Earnings
$2,343
Median Rent
$976,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in King County, WA
Properties on Market for Office buildings in King County
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Owner-user office property with elevator-served second floor, mixed-use zoning, and convenient interstate access.
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: Up to 8,704 SF available for owner‑user occupancy; 47 parking stalls, including some covered stalls; Roof recovered in 2019 with 15‑year warranty
