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    Property profile & analytics

    16455 Northeast 85Th St Redmond, WA 98052

    • Medical offices
    • 7,095 SF
    • 0.50 lot acres
    For Sale
    View listing
    Last Sale
    Apr 28, 2023
    $3,500,000
    Value Estimations
    Cap Rate Potential
    2.8%
    Medical offices
    Location Intelligence
    Property ID
    US90-0056318
    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

    • Redmond Art of Dentistry / Dental Implants Periodontist / Pediatric Dentist
    • Merchant Nadeem DDS / Dentist
    • Higgason Construction / Kitchen Remodeler / Patio Enclosure Supplier
    • Bienstock Law, PLLC / Family Law Attorney / Divorce Lawyer
    • Dr. Daniel Bickel / Dentist / Practitioner Service Location

    Property Details for 16455 Northeast 85Th St

    Year built
    1982
    Construction
    WOOD
    Lot size
    0.50 lot acres
    Property size
    7,095 SF
    Zone code
    EH
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    671970-0160
    APU
    6719700160

    Description

    This exceptional office space, located at 16455 NE 85th St in Redmond, WA 98052, offers 7,095 square feet across two stories in a Class D building constructed in 1982. Currently, 376 square feet are vacant, presenting an immediate opportunity for lease. The building is categorized as Executive Office, Medical Office, and Traditional Office space, making it suitable for a variety of businesses. The property sits on a half-acre lot and provides ample parking with 26 spaces. Its prime location near downtown Redmond offers high foot traffic and convenient access to public transportation, including proximity to the upcoming East Link Light Rail station and the Redmond Transit Center. The area boasts strong economic appeal, further enhanced by the presence of major employers like Microsoft in close proximity. This presents a compelling investment opportunity in a high-demand area primed for future growth. The building's multiple tenancy structure allows for flexibility in lease terms and space configurations.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,335,000
      ML approach
      $3,425,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,040,000
      Market price range: $1.61M - $4.04M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,805,000
      Current use
      COMMERCIAL (GENERAL)
      $5,510,000
      Change: +97% Conversion: Easy
      RESTAURANT
      $3,765,000
      Change: +34% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,255,000
      Change: +16% Conversion: Difficult
      RETAIL STORES
      $2,785,000
      Change: -1% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $2,705,000
      Change: -3% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,460,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Redmond
    County
    King
    State
    Washington
    Longitude
    -122.121
    Latitude
    47.6781
    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
    $24,600
    $3,348,000
    $1,000
    $3,349,000
    -
    $3,348,000
    $1,000
    $3,349,000

    Comparable in this City

    • Value Estimation
      $405,000
      13,572 SF

      15955 85th St

      MEDICAL BUILDING • 13,572 SF
      15955 85th St, Redmond, WA 98052-3550
      View Details
    • Value Estimation
      $500,000
      13,033 SF

      8630 164th NE Ave

      MEDICAL BUILDING • 13,033 SF
      8630 164th NE Ave, Redmond, WA 98052-1906
      View Details
    • Value Estimation
      $490,000
      7,496 SF

      8435 161st NE Ave

      MEDICAL BUILDING • 7,496 SF
      8435 161st NE Ave, Redmond, WA 98052-1512
      View Details
    • Value Estimation
      $930,000
      41,153 SF

      8301 161st NE Ave

      MEDICAL BUILDING • 41,153 SF
      8301 161st NE Ave, Redmond, WA 98052-3858
      View Details
    • Value Estimation
      $2,675,000
      1,754 SF

      16250 80th St

      MEDICAL BUILDING • 1,754 SF
      16250 80th St, Redmond, WA 98052-3821
      View Details
    • Value Estimation
      $2,100,000
      3,210 SF

      16260 85th St

      MEDICAL BUILDING • 3,210 SF
      16260 85th St, Redmond, WA 98052-3528
      View Details

    Similar Nearby for Sale

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      Redmond Office Building Investment Opportunity

      95% occupied office building near downtown Redmond and upcoming light rail.
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    Similar Nearby for Lease

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      Redmond Medical Center Office Space

      Medical office space in downtown Redmond near transit and amenities.
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      View Details
    • Contact for pricing
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      Redmond Dental Building For Rent

      Dental building with ample parking in downtown Redmond.
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      View Details
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      Redmond Office Space For Rent

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      Redmond Office Space with Amenities

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      Redmond Office Space with Amenities

      Office space with tenant amenity center near downtown Redmond.
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    Redmond, WA 98052
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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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