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Financial
Distress signals
Property profile

1601 116Th Ave NE Bellevue, WA 98004

FOR LEASE
Medical Office Space
View Listing
Property ID
US90-1001234
22,750 SF 5.18 ac lot Built 1979
Last sale Apr 2017 · $18,399,999
Entity Owned Owner of record is a legal entity (LLC / corporation). 9-yr Hold Held for 9 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

The property is an executive office suite within a multi-tenant office building located at 1601 116th Ave NE in Bellevue, Washington. The suite is configured for professional office use and provides access to shared building amenities, including two shared conference rooms, shared kitchenettes, a shared waiting area, and a dedicated mail room for tenant communications and deliveries. The building offers grade-level access for arrival and day-to-day operations.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2022

What does the county charge?
$208k
Tax billed · 2022
Assessed value$29.36M
Assessed land$29.36M
Assessed improvement$1k
Effective rate0.71%

Value estimate

· Oct 2026
$5.57M
$5.01M – $6.13M
CAP approach$5.69M
NOI build-up
Gross scheduled income$11k
Vacancy & credit loss−$2k
Operating expenses−$2k
NOI · 727.22% cap applied$7k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$395/SF
County average, outlier-cleaned · 123 recorded sales of this use type
Observed band · Q1–Q3$227 – $570

Cap rate analysis

How does the asset earn?
727.22%
$7k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
BR-MO
The purpose of the BelRed-MO Land Use District is to provide an area for office uses, with an emphasis on medical office.
General categoryUNKNOWN
JurisdictionKING

Location intelligence

Which uses thrive at this corner?
Best fit: Convenience Store
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Convenience Store10.2
Garden Center10.2
Pet Grooming Service10.0

Location

1601 116Th Ave NE Bellevue, WA 98004
County assessor Recorded deeds · 7 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1300 116th NE, Bellevue, WA 98004-3820 $6,750,000 Jul 2024 5,519 SF
2606 116th NE, Bellevue, WA 98004-1422 $18,500,000 Nov 2023 48,324 SF
1280 116th NE, Bellevue, WA 98004-3803 $7,100,000 Dec 2021 15,480 SF
1412 112th NE, Bellevue, WA 98004-3760 $4,645,452 Jun 2021 8,788 SF
3101 Northup, Bellevue, WA 98004-1449 $22,500,000 Apr 2021 44,419 SF
1515 116th NE, Bellevue, WA 98004-3811 $14,900,000 Jun 2019 40,829 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby

Comparable nearby

  • Value Estimation
    $2,545,000
    19,371 SF
    1051 116th NE Ave
    MEDICAL BUILDING
    1051 116th NE Ave, Bellevue, WA 98004-4600
    View Details
  • Value Estimation
    $3,110,000
    17,397 SF
    1632 116th NE Ave
    MEDICAL BUILDING
    1632 116th NE Ave, Bellevue, WA 98004-3035
    View Details
  • Value Estimation
    $2,140,000
    15,480 SF
    1260 116th NE Ave
    MEDICAL BUILDING
    1260 116th NE Ave, Bellevue, WA 98004-3800
    View Details
  • Value Estimation
    $2,125,000
    15,480 SF
    1240 116th NE Ave
    MEDICAL BUILDING
    1240 116th NE Ave, Bellevue, WA 98004-3815
    View Details
  • Value Estimation
    $2,070,000
    15,480 SF
    1220 116th NE Ave
    MEDICAL BUILDING
    1220 116th NE Ave, Bellevue, WA 98004-3826
    View Details
  • Value Estimation
    $7,370,000
    15,480 SF
    1280 116th NE Ave
    MEDICAL BUILDING
    1280 116th NE Ave, Bellevue, WA 98004-3803
    View Details

Similar Nearby for Sale

  • Contact for pricing
    15,480 SF
    Two-Story Medical Office Building
    Established medical office property with parking garage and flexible owner-user occupancy options.
    1220 116th Ave NE, Bellevue, WA 98004
    View Details
  • $7,000,000
    9,304 SF
    Single-Story Medical Office Building
    Renovated dental build-out with medical office, church, and daycare uses permitted.
    1545 116th Ave NE, Bellevue, WA 98004
    View Details
  • New
    $2,750,000
    2,559 SF
    Dental Condo in Mixed-Use Building
    Dental condo with four operatories and space to expand within a mixed-use downtown professional setting.
    1100 106TH AVE NE, Bellevue, WA 98004
    View Details
  • New
    $1,600,000
    1,768 SF
    Medical Office Condo Unit
    Professionally improved medical space with BR-MO zoning and ample parking.
    1900 116th Ave NE, Ste 200, Bellevue, WA 98004
    View Details
  • Contact for pricing
    1,768 SF
    Updated Medical Office Condominium
    The property carries BR-MO zoning and includes substantial improvements completed in 2014.
    1900 116th Ave NE, Bellevue, WA 98004
    View Details
  • New
    $1,495,000
    1,238 SF
    Medical/Retail Condo Unit For Sale
    Medical/Retail condo available for immediate occupancy with prominent signage.
    1106 108th Ave NE Ste 111, Bellevue, WA 98004
    View Details

Similar Nearby for Lease

  • New
    Contact for pricing
    12,486 sqft
    Class A Medical Office Space
    Medical office space in Overlake Medical Pavilion, Bellevue.
    1231 116th Avenue Northeast, Bellevue, WA 98004
    View Details
  • New
    Contact for pricing
    4,625 sqft
    Bellevue Medical Office Space Available
    Medical office space for lease in Bellevue Healthcare District.
    1900 116th Avenue Northeast, Bellevue, WA 98004
    View Details
  • New
    Contact for pricing
    6,618 sqft
    Bellevue Office Space for Lease
    Office space in Bellevue with freeway access and free parking.
    1407 116th Ave NE, Bellevue, WA 98004
    View Details
  • New
    Contact for pricing
    4,625 sqft
    Ambulatory Surgery Center Suite
    Suite 100 offers an ambulatory surgery setup with two operating rooms in a centrally located healthcare district.
    1900 116th Ave NE, Bellevue, WA 98004
    View Details
  • New
    Contact for pricing
    3,303 sqft
    Office Suite with Private Offices
    Flexible space supports office, medical, or dental occupancy near Downtown Bellevue.
    1500 112th Ave NE, Bellevue, WA 98004
    View Details
  • Contact for pricing
    2,830 sqft
    Medical Office Suite with Exam Rooms
    Configured for clinical operations with reception, patient waiting space, private offices, and dedicated work areas.
    1810 NE 116th Ave, Bellevue, WA 98004
    View Details
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