Downtown Bellevue Office Condo For
999 110th Ave NE, Bellevue, WA 98004
For Sale
$975,000
Pending
Rare small office condo in downtown Bellevue ready for improvements.
Property Size1,794 SF
Days on Market826
Property Features for 999 110th Ave NE
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Year Built
Listing Agency:
KIDDER MATHEWS
Listed By:
JEFF CHANEY · License #41682
(425) 450-1127
Source:
Corcoran
Added: Aug 5, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:51AM
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 KIDDER MATHEWS
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Investment Insights
Based on property information with market context.
Located in downtown Bellevue, this office condominium is situated on the 2nd floor as a corner unit featuring expansive floor-to-ceiling windows. The space is currently a grey shell, ready for buyer improvements. Access to shared common restrooms is available adjacent to the unit. The property is ideally situated close to freeways, transit, parks, cafes, and world-class retail and restaurants at Bellevue Square and The Shops at Bravern. The unit includes 2 reserved parking stalls in a garage on a vehicle lift system. The property has a size of 1794 square feet and is currently under court-appointed receivership. Any offer will require a sale motion and court approval.
Key Highlights
- Rare Downtown Bellevue office condominium.
- Grey shell condition allows for custom build‑out.
- Corner unit boasts expansive floor‑to‑ceiling windows.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,138
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$782,760
$782.8K
Cap Rate 7%
$559,114
$559.1K
Cap Rate 9%
$434,867
$434.9K
Market Conditions
NOI Build-Up for 1,794 SF
Gross rent
$64.6K $36.00/SF
− Vacancy
−$12.4K −$6.91/SF
EGI
$52.2K $29.09/SF
− OpEx
−$13.0K −$7.27/SF
NOI
$39.1K $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 Rate 5%
$782,760
Cap Rate 7%
$559,114
Cap Rate 9%
$434,867
Alternative Uses
Best Use
Office B
$559.1K
$489.2K – $652.3K
NOI $39,138 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$830.4K
$726.6K – $968.8K
NOI $58,126 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,420
Businesses Nearby
Explore this area
Business Placement
Demographics for 98004, WA
39,136
Population
20,977
Households
1.9
Avg Household Size
37
Median Age
76%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
5,361
Density / Sq Mi
$176,367
Median Household Income
$120,667
Median Earnings
$2,706
Median Rent
$2,000,001
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office Units in Bellevue
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Rare small office condo in downtown Bellevue ready for improvements.
Where is this office unit located?
The property is located at 999 110th Ave NE Bellevue, WA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Rare Downtown Bellevue office condominium.; Grey shell condition allows for custom build‑out.; Corner unit boasts expansive floor‑to‑ceiling windows.
