Bellevue Professional Arts Building | 11711 NE 12th St
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Bellevue Professional Arts Building 11711 NE 12th St
13,820 SF 84% Leased Office Building Bellevue, WA 98005 For Sale
Investment Highlights
- Bellevue Professional Arts Building is a 13,820-SF Class A medical office building with modern finishes and strong tenant appeal.
- Recent upgrades include new HVAC, water tanks, and a fully sprinkled structure for enhanced safety and efficiency.
- Tenants enjoy monument signage, an ADA-accessible elevator, and ample parking with covered and surface spaces.
- Strategic location near Interstate 405, the 520 Freeway, and major transit hubs, including Wilburton Light Rail Station.
- Be among a wealth of knowledge through adjacency to the Overlake Medical Center and proximity to corporate neighbors such as Google.
- Nearby retailers include Chick-fil-A, Total Wine & More, Starbucks, Safeway, Nordstrom, The Apple Store, Sephora, and Best Buy.
Executive Summary
The Bellevue Professional Arts Building at 11711 NE 12th Street presents a compelling investment opportunity in the heart of Bellevue, Washington. This almost fully leased, 13,820-square-foot, three-story medical office property offers professional suites with Class A finishes. With features like monument, suite, and directory signage, an ADA-accessible elevator, and abundant parking—both surface and covered—the building is well-equipped to meet the needs of diverse occupants.
Located in one of the Pacific Northwest's most dynamic markets, this property benefits from its proximity to major transportation routes and transit hubs. Positioned near Interstate 405 and the 520 Freeway, it offers unparalleled connectivity, including access to the Wilburton Transit Light Rail Station (less than a mile away) and the Bellevue Downtown Transit Station, just 10 minutes away. Medical professionals and businesses appreciate the office's proximity to Overlake Medical Center, a significant regional healthcare hub, and neighboring corporate giants such as Kaiser Permanente, Google South, and Bellevue City Hall.
Situated between the vibrant Bel-Red Corridor, Crossroads, and Clyde Hill neighborhoods, the property enjoys a premier location surrounded by retail and lifestyle amenities. Nearby shopping options include Trader Joe's, Whole Foods, the Design Market, and Spring District. The Meydenbauer Center convention hub for meetings, conferences, auctions, and banquets lies across Interstate 405. This strategic placement enhances the property’s value as a highly accessible and desirable destination for business owners, tenants, and visitors alike.
Located in one of the Pacific Northwest's most dynamic markets, this property benefits from its proximity to major transportation routes and transit hubs. Positioned near Interstate 405 and the 520 Freeway, it offers unparalleled connectivity, including access to the Wilburton Transit Light Rail Station (less than a mile away) and the Bellevue Downtown Transit Station, just 10 minutes away. Medical professionals and businesses appreciate the office's proximity to Overlake Medical Center, a significant regional healthcare hub, and neighboring corporate giants such as Kaiser Permanente, Google South, and Bellevue City Hall.
Situated between the vibrant Bel-Red Corridor, Crossroads, and Clyde Hill neighborhoods, the property enjoys a premier location surrounded by retail and lifestyle amenities. Nearby shopping options include Trader Joe's, Whole Foods, the Design Market, and Spring District. The Meydenbauer Center convention hub for meetings, conferences, auctions, and banquets lies across Interstate 405. This strategic placement enhances the property’s value as a highly accessible and desirable destination for business owners, tenants, and visitors alike.
Sale Flyer
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
13,820 SF
Building Class
B
Year Built
1986
Percent Leased
84%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
4,606 SF
Building FAR
0.50
Lot Size
0.64 AC
Zoning
O&LI, Bellevue
Parking
54 Spaces (3.18 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Wheelchair Accessible
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2020 Population
19,247
108,267
248,386
2024 Population
21,520
115,060
256,982
Population Growth '20-'24
11.8%
6.3%
3.5%
2020 Households
10,382
46,602
102,855
2024 Households
11,552
49,772
106,811
Household Growth '20-'24
11.3%
6.8%
3.9%
Average Age
39
39
39
Median Household Income
$156,147
$147,664
$155,086
Daytime Employees
50,396
122,286
181,207
Total Businesses
5,484
11,487
18,573
College Degree + Higher
73%
68%
69%
Nearby Amenities
Hospitals |
|||
|---|---|---|---|
| EvergreenHealth Medical Center | Acute Care | 12 min drive | 7.4 mi |
| University of Washington Medical Center | Acute Care | 12 min drive | 8.1 mi |
| Seattle Children's Hospital | Children's | 16 min drive | 9.6 mi |
| Kaiser Permanente Central Hospital | Acute Care | 18 min drive | 9.8 mi |
| Swedish Medical Center - Cherry Hill | Acute Care | 19 min drive | 11.1 mi |
Restaurants |
|||
|---|---|---|---|
| Starbucks | Cafe | $ | 3 min walk |
| Crab Pot | Seafood | $$ | 7 min walk |
| Rolls And Rolls Sushi | Japanese | $$$ | 9 min walk |
| Sharetea | Cafe | - | 10 min walk |
| Woobling Korean BBQ | - | - | 11 min walk |
| Pumphouse Restaurant | Grill | $$ | 11 min walk |
| French Bakery | Bakery | $ | 11 min walk |
| Taco Del Mar | - | - | 12 min walk |
| Burger King | - | - | 12 min walk |
| Big Apple Bagels | - | - | 14 min walk |
Retail |
||
|---|---|---|
| Bright Horizons | Daycare | 7 min walk |
| [solidcore] | Fitness | 6 min walk |
| Whole Foods Market | Supermarket | 10 min walk |
| Safeway | Supermarket | 11 min walk |
| United States Postal Service | Business/Copy/Postal Services | 11 min walk |
| Sola Salon Studios | Salon/Barber/Spa | 11 min walk |
| Life Time Athletic | Fitness | 14 min walk |
| Louis Vuitton | Unisex Apparel | 14 min walk |
| Gucci | Other Retail | 14 min walk |
| Total Wine & More | Liquor | 14 min walk |
Hotels |
|
|---|---|
| Hilton Garden Inn |
254 rooms
4 min drive
|
| Hampton by Hilton |
128 rooms
3 min drive
|
| AC Hotels by Marriott |
234 rooms
5 min drive
|
| Hyatt Regency |
731 rooms
4 min drive
|
PROPERTY TAXES
| Parcel Number | 282505-9196 | Improvements Assessment | $2,803,300 |
| Land Assessment | $4,068,700 | Total Assessment | $6,872,000 |
PROPERTY TAXES
Parcel Number
282505-9196
Land Assessment
$4,068,700
Improvements Assessment
$2,803,300
Total Assessment
$6,872,000
Sale Advisor
Sale Advisor
Troy Gessel, Principal
(425) 576-8747
Contact
Troy is a Principal at the Pacific Northwest office of Lee & Associates, a Bellevue-based real estate brokerage firm offering a comprehensive range of commercial real estate services to over 65 markets across the US.
Troy brings over 30 years of expertise in commercial real estate to Lee & Associates. Prior to joining Lee, Troy was a principal and founding partner at AGM, Inc., a Pacific Northwest commercial real estate and investment firm where he created a portfolio of over $500 million in acquired assets and raised over $100 million in equity. Troy started this firm with his partner after successful careers at Colliers Macaulay Nicolls and Pacific Real Estate partners.
With a vision to expand their focus, Gessel and his partner acquired Phillips Real Estate, a 40-year-old Pacific Northwest property management firm. The new partnership launched a combined portfolio of Commercial (AGM commercial portfolio), Multifamily, HOA | Community Association, and Residential assets.
With the association to Lee, Troy has created a partnership which benefits his clients by providing the power and resources of a larger corporation, and the personal attention of a smaller firm. Both have allowed Troy to better continue his focus on real estate investments through a full-service approach, all combined under the banner of Lee & Associates.
Gessel’s business acumen and passion for commercial real estate is complemented by his close friendships and personal ties with the Eastside community. Gessel and his wife of over 25 years, Elizabeth, have two children and are active in social and philanthropic circles in both Seattle and Los Angeles.
Troy brings over 30 years of expertise in commercial real estate to Lee & Associates. Prior to joining Lee, Troy was a principal and founding partner at AGM, Inc., a Pacific Northwest commercial real estate and investment firm where he created a portfolio of over $500 million in acquired assets and raised over $100 million in equity. Troy started this firm with his partner after successful careers at Colliers Macaulay Nicolls and Pacific Real Estate partners.
With a vision to expand their focus, Gessel and his partner acquired Phillips Real Estate, a 40-year-old Pacific Northwest property management firm. The new partnership launched a combined portfolio of Commercial (AGM commercial portfolio), Multifamily, HOA | Community Association, and Residential assets.
With the association to Lee, Troy has created a partnership which benefits his clients by providing the power and resources of a larger corporation, and the personal attention of a smaller firm. Both have allowed Troy to better continue his focus on real estate investments through a full-service approach, all combined under the banner of Lee & Associates.
Gessel’s business acumen and passion for commercial real estate is complemented by his close friendships and personal ties with the Eastside community. Gessel and his wife of over 25 years, Elizabeth, have two children and are active in social and philanthropic circles in both Seattle and Los Angeles.
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Bellevue Professional Arts Building | 11711 NE 12th St
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