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    14401 Issaquah-Hobart Rd Issaquah, WA 98027
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    14401 Issaquah-Hobart Rd Issaquah, WA 98027

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    • Office Spaces
    • 12,152 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 14401 Issaquah-Hobart Rd

    Year built
    2009
    Property size
    12,152 SF
    Property type
    Office Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional three-story Class B office building, constructed in 2009, presents a compelling investment opportunity in the thriving Issaquah submarket of King County, Washington. Located at 14401 Issaquah-Hobart Road Southeast, Issaquah, WA 98027, this 12,152 square foot property sits on a 0.77-acre lot and boasts high visibility from Hobart Road, a main thoroughfare connecting Highway 18 to Issaquah. The building features a total of 30 parking spaces, providing ample convenience for tenants and visitors. Currently configured for multiple tenancies, two spaces are immediately available, ranging from 875 to 1,839 square feet, making it suitable for a variety of businesses. The property is zoned NB and benefits from outstanding traffic volume. Its convenient location offers easy access to Highway 18, enhancing its appeal to a wide range of potential tenants. The building's traditional office design is also well-suited for medical office uses. This property represents a rare opportunity to acquire a well-maintained, strategically located office building in a high-demand area. The building's size, parking, and location combine to create a highly desirable commercial property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Issaquah
    County
    King
    State
    Washington
    Longitude
    -122.023
    Latitude
    47.4729

    Comparable in this City

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      1740 Maple St

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      435 Sunset Way

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      8,526 SF

      1455 11th NW Ave

      MEDICAL BUILDING • 8,526 SF
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      5655 221st SE Pl

      DENTAL BUILDING • 2,943 SF
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    Similar Nearby for Sale

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      Issaquah Retail/Office Building For Sale

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      Class A Office Space

      Class A office space with I-90 access and retail amenities.
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    Similar Nearby for Lease

    • $3,249 /Mo
      1,114 SF

      Medical Clinic Space Available

      Fully built-out clinic space with exam rooms, available this July.
      6520 226Th Pl SE, Issaquah, WA 98027
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      2,583 SF

      Medical Office Space For Rent

      Class A medical office space with easy I-90 access.
      450 Gilman Blvd, Issaquah, WA 98027
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    • $5,548 /Mo
      1,513 SF

      Medical Office Space in Issaquah

      Medical office space with procedure and exam rooms available for rent.
      1505 Gilman Blvd, Issaquah, WA 98027
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    • $1,784 /Mo
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      Medical Office Space Available

      Class A medical office space with renovated common areas.
      450 Gilman Blvd, Issaquah, WA 98027
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    • $44 SF/Yr
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      Medical Office Space in Issaquah

      Medical office space with procedure and exam rooms available for rent.
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    • Contact for pricing
      4,452 SF

      Medical Clinic Space Available

      Built-out clinic space with exam rooms, available this July.
      6520 226Th Pl SE, Issaquah, WA 98027
      View Details
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    Issaquah, WA 98027
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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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    14401 Issaquah-Hobart Rd, Issaquah, WA, 98027
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