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    123 105th SE Ave Bellevue, WA 98004-6265

    • Office buildings
    • 6,712 SF
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Apr 30, 2024
    $4,800,000
    Value Estimations
    $4,770,000
    Show details
    Cap Rate Potential
    3.3%
    Office buildings
    Location Intelligence
    Property ID
    US90-0971887
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Foundation For the Future / Non-Profit Organization
    • Kistler Sensors Inc / Non-Profit Organization
    • The windham office / Business To Business Service

    Property Details for 123 105th SE Ave

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.31 lot acres
    Property size
    6,712 SF
    Zone code
    PO
    Property type
    Office buildings
    APN
    522330-0260
    APU
    5223300260

    Description

    This exceptional two-story office building, located at 123 105th Ave SE in Bellevue, WA 98004, presents a unique investment opportunity. Boasting 6,490 square feet of well-designed space, the building, constructed in 1988 and renovated in 2010, features a highly efficient layout perfect for a variety of businesses. The interior includes a blend of private offices and spacious meeting rooms, complemented by two convenient break areas and abundant natural light from large windows. The property sits on a 13,686 square foot lot and is zoned PO. Parking is readily available, encompassing both surface and garage options. Its prime downtown Bellevue location offers unparalleled convenience, situated just off Main Street and Bellevue Way, providing easy access to a wealth of amenities. Furthermore, its strategic location ensures excellent freeway access to both I-405 and I-90, making commuting a breeze for employees and clients alike. This standalone building represents a rare opportunity to acquire a highly desirable, well-maintained office property in the heart of Bellevue's thriving business district. The asking price for this exceptional property is $4,990,000. This is a must-see for discerning investors seeking a strong return on investment in a premier location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,800,000
      ML approach
      $4,800,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,995,000
      Market price range: $2.02M - $5.18M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    King
    State
    Washington
    Longitude
    -122.201
    Latitude
    47.609
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $31,693
    $2,052,900
    $2,003,300
    $4,056,200
    -
    $2,052,900
    $2,003,300
    $4,056,200

    Comparable in this City

    • Value Estimation
      $555,000
      47,411 SF

      1417 116th NE Ave

      OFFICE BUILDING • 47,411 SF
      1417 116th NE Ave, Bellevue, WA 98004-3821
      View Details
    • Value Estimation
      $400,000
      16,200 SF

      845 106th NE Ave

      OFFICE BUILDING • 16,200 SF
      845 106th NE Ave, Bellevue, WA 98004-4308
      View Details
    • Value Estimation
      $345,000
      493,400 SF

      411 108th NE Ave

      OFFICE BUILDING • 493,400 SF
      411 108th NE Ave, Bellevue, WA 98004-8404
      View Details
    • Value Estimation
      $290,000
      16,319 SF

      700 108th NE Ave

      OFFICE BUILDING • 16,319 SF
      700 108th NE Ave, Bellevue, WA 98004-5102
      View Details
    • Value Estimation
      $465,000
      629,094 SF

      225 108th NE Ave

      OFFICE BUILDING • 629,094 SF
      225 108th NE Ave, Bellevue, WA 98004-5771
      View Details
    • Value Estimation
      $295,000
      11,570 SF

      10112 10th St

      OFFICE BUILDING • 11,570 SF
      10112 10th St, Bellevue, WA 98004-4156
      View Details

    Similar Nearby for Sale

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      Downtown Bellevue Office Condo For Sale

      Rare small office condo in downtown Bellevue ready for improvements.
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      9,202 SF

      Bellevue Office Building For Sale

      9,202 SF Owner-User Opportunity
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      Bellevue Office Space Available

      Office property for sale in Bellevue, Washington.
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    • $9,750,000

      Clyde Hill Residential Land Parcel

      Rare 1.8-acre residential parcel in Clyde Hill.
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    Similar Nearby for Lease

    • $25 SF/Yr
      11,069 SF

      Bellevue Office Building For Lease

      Office building south of downtown Bellevue with ample free parking.
      2122 112Th Ave NE | Bellevue, Bellevue, WA 98004
      View Details
    • Contact for pricing
      780,000 SF

      Bellevue Office Space Available

      Large office space for rent in Bellevue, Washington.
      222-330 112Th Ave NE, Bellevue, WA 98004
      View Details
    • $30 SF/Yr
      5,379 SF

      Bellevue Medical Corridor Office Space

      Two-story office building in Bellevue Medical Corridor for lease.
      1416 112Th Ave NE, Bellevue, WA 98004
      View Details
    • $11,250,000
      24,985 SF

      Bellevue Office Space Available

      Office building with 24,985 square feet available for rent.
      2229 112Th Ave NE, Bellevue, WA 98004
      View Details
    • Contact for pricing
      1,200,000 SF

      Bellevue Office Space Available

      Large office building in Bellevue, WA, available for rent.
      100-100 112Th Ave NE, Bellevue, WA 98004
      View Details
    • $30 SF/Yr
      16,060 SF

      Bellevue Office Park: Prime Space

      16,060 SF Office, 3,292 SF Vacant
      2025 112Th Ave, Bellevue, WA 98004
      View Details
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    Bellevue, WA 98004-6265
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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