Bellevue Office Building For
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2330 130th Ave NE, Bellevue, WA 98005
100% leased office building in Bellevue, Washington.
Property Size17,018 SF
Price / SF$399.58
Days on Market829
Property Features for 2330 130th Ave NE
General Information
Standard status
Active
Size
17,018 SF
Class
B
Property subtype
Office
Occupancy
100%
Lease Type
Gross
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Cushman & Wakefield - Bellevue, Washington
Listed By:
Brian Toy · License #WA 15321
Source:
Crexi
Added: May 6, 2024
Changed: Aug 11
Last Checked: Aug 11 at 4:46PM
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 - Bellevue, Washington
Investment Insights
Based on property information with market context.
This office building, constructed in 1985, is 100% leased. The property benefits from a limited supply of office buildings in the area. Its location offers walkable retail amenities and high visibility. The property provides easy access to SR-520 with multiple routes and is in close proximity to I-405. The majority tenant recently signed a long-term extension. The property size is 17,018 square feet.
Key Highlights
- 100% Leased with long term tenant extension.
- Easy Access to SR‑520 and close proximity to I‑405.
- Walkable retail amenities.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$371,265
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,425,300
$7.4M
Cap Rate 7%
$5,303,786
$5.3M
Cap Rate 9%
$4,125,167
$4.1M
Market Conditions
NOI Build-Up for 17,018 SF
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.
Gross rent
$612.6K $36.00/SF
− Vacancy
−$117.6K −$6.91/SF
EGI
$495.0K $29.09/SF
− OpEx
−$123.8K −$7.27/SF
NOI
$371.3K $21.82/SF
Area
Bellevue, WA
Vacancy
19.20%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,425,300
Cap Rate 7%
$5,303,786
Cap Rate 9%
$4,125,167
Alternative Uses
Best Use
Office B
$5.30M
$4.64M – $6.19M
NOI $371,265 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.88M
$6.89M – $9.19M
NOI $551,383 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,882
Businesses Nearby
Explore this area
Business Placement
Demographics for 98005, WA
20,961
Population
9,420
Households
2.2
Avg Household Size
36
Median Age
71%
College-Educated
95%
High-School Grad
7.3 sq mi
ZIP Area
2,871
Density / Sq Mi
$158,396
Median Household Income
$87,000
Median Earnings
$2,380
Median Rent
$1,373,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 100% leased office building in Bellevue, Washington.
Where is this office building located?
The property is located at 2330 130th Ave NE Bellevue, WA.
What is the asking price?
The asking price for this property is $6,800,000.
What are key features of this property?
This property features: 100% Leased with long term tenant extension.; Easy Access to SR‑520 and close proximity to I‑405.; Walkable retail amenities.
