Property profile

214 111th NE Ave Bellevue, WA 98004

OFF-MARKET
Office buildings
Property ID
US90-0367638
2,100 SF 0.35 ac lot Built 1955
Entity Owned 22-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial property presents a unique investment opportunity in the heart of Downtown Bellevue, Washington. The property encompasses a 2,100 square foot, single-tenant office building situated on a substantial 0.35-acre lot (15,277 square feet). Built in 1955 and renovated in 1985, the two-story building offers ample space for a variety of commercial uses. The property boasts 60 parking spaces, a significant advantage in this high-demand location. Its zoning designation is DNTN-MU. The King County property, with APN 239960-0027, is conveniently located just two blocks from the Bellevue Transit Center, providing easy access to public transportation and Highway 405. The previous use of the land was for car sales, suggesting potential for redevelopment or repurposing. The building is currently vacant, offering immediate occupancy for a new tenant. Utilities and insurance are the responsibility of the tenant. This prime Bellevue location offers exceptional visibility and accessibility, making it an ideal investment for discerning buyers seeking a versatile commercial property with significant development potential. The property taxes are $0 per square foot.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1955
Construction WOOD
Total area 2,100 SF
Lot 0.35 ac (15,277 SF)
Zoning code DNTN-MU
APN 239960-0027
UPID US90-0367638

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Car Dealership

Location

214 111th NE Ave Bellevue, WA 98004-8333
Bellevue metro Census 23808 SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$365k
CAP Approach CAP
by Request
Comparable Approach Comparable
$396k
Blend (final) Blend
$505k

Owner & transaction history

since 2004
3 recorded transactions
2004
Price N/A
1990
$614,120
1969
Price N/A

Zoning & alternative use

DNTN-MU · Bellevue, WA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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