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Brierwood Center 12001-12005 NE 12th St 63,175 SF 100% Leased Retail Building Bellevue, WA 98005 For Sale
INVESTMENT HIGHLIGHTS
- Tier 1 global investment market with low multifamily vacancy rates, strong rent growth and an undersupplied For Sale housing market.
- One of the fastest recovering office markets in the country with proven tenant demand
- Centrally located between the Wilburton and Spring District train stations, Meta’s Spring District Campus, Whole Foods/Uwajimaya/Total Wine
- Exceptional opportunity to create a marquee residential community in the center of Eastside’s most affluent submarket
EXECUTIVE SUMMARY
Lee & Associates Commercial Real Estate Services, LLC is the pleased to present Brierwood Center, a generational investment and redevelopment opportunity. This 48,474 SF retail property is 100% leased, and generated $840,117 in Net Operating Income in CY 2024. Situated on 2.69 acres (117,403 SF) in the Wilburton neighborhood which is considered to be the gateway to downtown Bellevue. The site offers immediate cash flow with significant upside through redevelopment potential.
Positioned within the Eastside’s Innovation Triangle and adjacent to the Meta-occupied Spring District, Brierwood Center is ideally zoned for a high-density, mixed-use transformation. With seamless access to retail, dining, and major transit—including Bel-Red Rd/NE 12th, SR 520, I-405, and the new Sound Transit Light Rail—this site is well-suited for residential and/or mixeduse development.
Positioned within the Eastside’s Innovation Triangle and adjacent to the Meta-occupied Spring District, Brierwood Center is ideally zoned for a high-density, mixed-use transformation. With seamless access to retail, dining, and major transit—including Bel-Red Rd/NE 12th, SR 520, I-405, and the new Sound Transit Light Rail—this site is well-suited for residential and/or mixeduse development.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Freestanding
Building Size
63,175 SF
Building Class
B
Year Built
1974
NOI
$840,117
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.36
Lot Size
4.00 AC
Zoning
LI
Parking
167 Spaces (1 Spaces per 1,000 SF Leased)
Frontage
445’ on 12th St
AMENITIES
- Signage
- Air Conditioning
Walk Score®
Very Walkable (70)
NEARBY MAJOR RETAILERS
![[solidcore]](https://images1.loopnet.com/i2/X1DfwMFhQUJtrEvdN0O4PHppb1UchnIXcAPoILYKKzI/105/image.jpg "[solidcore]")
PROPERTY TAXES
| Parcel Number | 109910-0165 | Improvements Assessment | $1,000 |
| Land Assessment | $8,678,700 | Total Assessment | $8,679,700 |
PROPERTY TAXES
Parcel Number
109910-0165
Land Assessment
$8,678,700
Improvements Assessment
$1,000
Total Assessment
$8,679,700
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Brierwood Center | 12001-12005 NE 12th St
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