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    1014 116Th Ave NE Bellevue, WA 98004
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    Property profile & analytics

    1014 116Th Ave NE Bellevue, WA 98004

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    • Retail space
    • 23,300 SF
    • 5.93 lot acres
    For Lease
    $11,109/Mo
    View Listing →
    Bellevue Retail Space Sublease For Lease
    $11,109/Mo
    3,603 SF

    Bellevue Retail Space Sublease

    Retail space available for sublease in Bellevue Design Market.

    1014 116th Avenue NE, Bellevue, WA 98004
    View Listing
    Property ID
    US90-1773052
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 1014 116Th Ave NE

    Year built
    1982
    Construction
    WOOD
    Lot size
    5.93 lot acres
    Property size
    23,300 SF
    Zone code
    BR-MO-1
    Property type
    Retail space
    APN
    282505-9019
    APU
    2825059019

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,860,000
      6.5%
      $6,335,000
      7%
      $5,880,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $9,140,000
      Current use
      MEDICAL BUILDING
      $9,205,000
      Change: +1% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $8,885,000
      Change: -3% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $8,080,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    King
    State
    Washington
    Longitude
    -122.185
    Latitude
    47.6198
    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
    2022
    $291,648
    $36,163,500
    $5,085,200
    $41,248,700
    -
    $36,163,500
    $5,085,200
    $41,248,700

    Comparable in this City

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      7,802 SF

      11027 4th St

      RETAIL STORES (PERSONAL SERVICES) • 7,802 SF
      11027 4th St, Bellevue, WA 98004-5821
      View Details
    • Value Estimation
      $890,000
      4,585 SF

      810 102nd NE Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,585 SF
      810 102nd NE Ave, Bellevue, WA 98004-4117
      View Details
    • Value Estimation
      $1,430,000
      6,368 SF

      103 Bellevue NE Way

      RETAIL STORES (PERSONAL SERVICES) • 6,368 SF
      103 Bellevue NE Way, Bellevue, WA 98004-5933
      View Details
    • Value Estimation
      $2,225,000
      17,728 SF

      11555 Northup Way

      RETAIL STORES (PERSONAL SERVICES) • 17,728 SF
      11555 Northup Way, Bellevue, WA 98004-1408
      View Details
    • Value Estimation
      $1,080,000
      7,976 SF

      10202 Main St

      RETAIL STORES (PERSONAL SERVICES) • 7,976 SF
      10202 Main St, Bellevue, WA 98004-6120
      View Details
    • Value Estimation
      $6,210,000
      506,570 SF

      600 100th NE Ave

      RETAIL STORES (PERSONAL SERVICES) • 506,570 SF
      600 100th NE Ave, Bellevue, WA 98004
      View Details

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      Medical/Retail condo available for immediate occupancy with prominent signage.
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      Retail Space in Bellevue

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      30,654 SF

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      12,575 SF

      Bellevue Office Space Available

      Office space featuring private offices, conference room, and kitchenette.
      3805 108Th Ave NE, Bellevue, WA 98004
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    • $10,000,000

      Prime Downtown Bellevue Development Site

      Two-parcel development site near Downtown Bellevue Park and transit.
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    Similar Nearby for Lease

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      Prime Bellevue location with retail and office space available.
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      29,140 SF

      Prime Retail Space in Bellevue

      29,140 SF retail space in downtown Bellevue for lease.
      103 110Th Ave NE, Bellevue, WA 98004
      View Details
    • Contact for pricing

      Bellevue Retail Space Sublease Opportunity

      Retail space sublease in Bellevue Design Market near downtown.
      1014-1038 116Th Ave Northeast, Bellevue, WA 98004
      View Details
    • $52 SF/Yr
      4,706 SF

      Downtown Bellevue Retail Space

      Retail space in a premier downtown Bellevue location.
      10608 NE 4Th St, Bellevue, WA 98004
      View Details
    • Contact for pricing

      Bellevue Retail Space For Rent

      Prime retail space in Bellevue, ideal for various businesses.
      35 112Th Ave NE, Bellevue, WA 98004
      View Details
    • Contact for pricing
      2,102 SF

      Prime Corner Retail Space Available

      Retail space in Bellevue's vibrant retail ecosystem for lease.
      900-920 108Th Ave NE, Bellevue, WA 98004
      View Details
    View Listing
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    Bellevue, WA 98004
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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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