214 111Th AveBellevue, WA 98004

Property Details for 214 111Th Ave

Year built

1955

Construction

WOOD

Lot size

0.35 AC

Property size (Sq ft)

2,100 SF

Zone code

DNTN-MU

Property type

Office properties

Property subtype

Office buildings

APN

239960-0027

APU

2399600027

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $459,037

  6.5%

  $423,726

  7%

  $393,460

• Comparable approach

  Method

  Valuation

  Relative Method

  $543,892

  Geo Method

  $404,418

• Alternative Use

  Use

  Valuation

  Residential

  $525,420

  Hospitality

  $481,282

  Educational

  $400,421

  Medical

  $414,192

  Retail

  $622,877

Location Insight

City

Bellevue

County

King

State

Washington

Latitude

47.6124

Longitude

-122.192

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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