Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11671 1st St Bellevue, WA 98005-3759

    • Office buildings
    • 4,134 SF
    • 0.26 lot acres
    OFF-MARKET
    Last Sale
    May 17, 2021
    $7,200,000
    Value Estimations
    $6,515,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0679529
    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.

    Current Use by Public Records

    • HealthRing / Wellness Program
    • J Geiger Shading - Seattle / Interior Design / Home Decor Store
    • EVAM Streaming Analytics / Corporate Office

    Property Details for 11671 1st St

    Year built
    1975
    Construction
    WOOD
    Lot size
    0.26 lot acres
    Property size
    4,134 SF
    Zone code
    CB
    Property type
    Office buildings
    APN
    804610-0042
    APU
    8046100042

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,795,000
      ML approach
      $5,865,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellevue
    County
    King
    State
    Washington
    Longitude
    -122.185
    Latitude
    47.608
    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
    $8,015
    $1,130,000
    $1,000
    $1,131,000
    -
    $1,130,000
    $1,000
    $1,131,000

    Comparable in this City

    • Value Estimation by Request
      1,397 SF

      1625 118th SE Ave

      OFFICE BUILDING • 1,397 SF
      1625 118th SE Ave, Bellevue, WA 98005-3801
      View Details
    • Value Estimation
      $5,830,000
      32,576 SF

      2355 130th NE Ave

      OFFICE BUILDING • 32,576 SF
      2355 130th NE Ave, Bellevue, WA 98005
      View Details
    • Value Estimation
      $1,635,000
      8,900 SF

      1545 134th NE Ave

      OFFICE BUILDING • 8,900 SF
      1545 134th NE Ave, Bellevue, WA 98005-2321
      View Details
    • Value Estimation
      $4,495,000
      17,135 SF

      2475 140th NE Ave

      OFFICE BUILDING • 17,135 SF
      2475 140th NE Ave, Bellevue, WA 98005-1892
      View Details
    • Value Estimation
      $3,030,000
      17,613 SF

      13440 30th St

      OFFICE BUILDING • 17,613 SF
      13440 30th St, Bellevue, WA 98005-4439
      View Details
    • Value Estimation
      $6,370,000
      42,710 SF

      12301 10th Pl

      OFFICE BUILDING • 42,710 SF
      12301 10th Pl, Bellevue, WA 98005-2487
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12 SF

      Bellevue Medical Office Investment Opportunity

      Fully leased medical office building in prime Bellevue location.
      11711 NE 12Th St, Bellevue, WA 98005
      View Details
    • $3,890,000
      5,590 SF

      Bellevue Office Building For Sale

      Office building with flexible lease terms and excellent internet connectivity.
      13417 NE 20Th St, Bellevue, WA 98005
      View Details
    • $3,890,000
      5,590 SF

      Bellevue Office Building For Sale

      Office building with flexible lease terms and excellent connectivity.
      13417 20Th St, Bellevue, WA 98005
      View Details
    • $6,800,000

      Bellevue Office Building For Sale

      100% leased office building with walkable retail amenities.
      2330 130Th Ave NE, Bellevue, WA 98005
      View Details
    • Contact for pricing
      68,996 SF

      Bellevue Office Space Sublease

      Office space with easy access to I-405 and I-90.
      915 118Th Ave SE, Bellevue, WA 98005
      View Details
    • Contact for pricing
      2,253 SF

      Bellevue Medical Corridor Office Space

      Class A office space in Bellevue Medical Corridor for sale.
      11711 NE 12Th St, Bellevue, WA 98005
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      12,125 SF

      Bellevue Office/Medical Building For Rent

      Bellevue office/medical building with transit access and parking.
      12100 Northup Way, Bellevue, WA 98005
      View Details
    • $50 SF/Yr
      2,935 SF

      Suburban Bellevue Boutique Office Building

      Well-maintained office building with freeway access and free parking.
      11711 Southeast 8Th St, Bellevue, WA 98005
      View Details
    • $30 SF/Yr
      16,233 SF

      Boutique Office Building in Bellevue

      High-image office suites for lease near downtown Bellevue.
      11555 Southeast 8Th St, Bellevue, WA 98005
      View Details
    • $29 SF/Yr
      32,333 SF

      Bellevue Office Space for Lease

      Modern Office Suite, 2,938 sq ft, Bellevue WA
      13555 Bel-Red Rd, Bellevue, WA 98005
      View Details
    • $33 SF/Yr
      10,300 SF

      12360 8Th St

      Retail properties • 10,300 SF
      12360 8Th St, Bellevue, WA 98005
      View Details
    • $38 SF/Yr
      22,407 SF

      Bellevue Retail Space: Prime Location

      High-traffic retail space, newly renovated, excellent access.
      13433 20Th St, Bellevue, WA 98005
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    11671 1st St
    Bellevue, WA 98005-3759
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.