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    11711 8Th St Bellevue, WA 98005

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    For Lease
    Contact for pricing

    Bellevue Office Building, Freeway Access

    Lot size:
    34,703 SF

    Property Features for 11711 8Th St

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    34,703 SF
    Total Rate
    144595.83

    Building Details

    Stories
    3

    Spaces For Lease

    at 11711 8Th St, Bellevue, WA 98005 Contact us
    Unit Suite 303

    $50 /Mo

    Size
    2,935 SF
    Contact us
    Unit Suite 110

    $50 /Mo

    Size
    5,514 SF
    Contact us

    We can help!

    Listing Contact
    Jeff Jochums
    Jeff Jochums

    Listing Agency: CBRE Bellevue Listing Agent: Jeff Jochums

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This well-maintained, three-story brick office building offers multiple tenancy options in a desirable suburban Bellevue location. The property boasts a total of 34,703 square feet, with 2,527 square feet currently vacant and available for lease. Two spaces are immediately available, ranging in size from 2,935 to 5,514 square feet, providing flexibility for various business needs. The building features ample free parking, with a ratio of 3 spaces per 1,000 square feet, ensuring convenient access for employees and clients. Its prime location provides immediate access to the 405 freeway, offering excellent connectivity throughout the greater Seattle area. The building's traditional office design provides a professional and comfortable work environment. This boutique-style building presents a unique opportunity for businesses seeking a well-maintained, conveniently located office space in a thriving suburban setting. The building is located in King County, Washington. The available spaces offer a chance to establish a presence in a highly accessible and desirable area. Contact us today to learn more about leasing opportunities and explore the possibilities of making this exceptional office space your new home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drew Constanzer - Thrivent Financial Advisor Jessica Kicha Counseling, ... Counselor Inner Roots Counseling, ... Psychotherapist Trecy Jordan Insurance Agency Mark Peterson - Thrivent Financial Advisor

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Law Firm Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    King
    State
    Washington
    Longitude
    -122.1857648
    Latitude
    47.6016751

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    FAQs

    What type of property is this?
    Office property - Bellevue Office Building, Freeway Access
    Where is this office property located?
    The property is located at 11711 8Th St Bellevue, WA.
    What is the lease rate?
    The lease rate is $50 SF/Yr.
    What are key features of this property?
    This property features: Gateway 405: 34,703 square foot, three-story office building in King County.; Multiple tenants, with 2,527 square feet currently vacant.; Two available suites ranging from 2,935 to 5,514 square feet.
    (425) 455-4500 Call to check price and availability
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    11711 8Th St Bellevue, WA 98005
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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
    11711 8Th St Bellevue, WA 98005
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jeff Jochums
    Jeff Jochums
    (425) 455-4500
    Learn more
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