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16150 NE 85th St
Redmond, WA 98052
Village Square · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Pleased to present the opportunity to acquire 3.12 acres of land
EXECUTIVE SUMMARY
Lee & Associates Commercial Real Estate Services, LLC (“Lee & Associates”), is pleased to present the opportunity to acquire 3.12 acres of land with 49,915 RSF SF of existing income producing retail and service office situated in the heart of Redmond, Washington. The offering provides a developer the opportunity to build a large-scale multifamily project in separate phases by acquiring this flat and efficient site. Strategically located in one of the Eastside’s best performing submarkets, Village Square offers the unique combination of stable in-place cash-flows, strong tenancy, mark-to-market upside potential and the opportunity to capitalize on the additional density and reduced parking ratio proposed in Redmond’s most recent comprehensive plan amendment. Village Square benefits from its efficient configuration, a central location in downtown Redmond, convenient and immediate access to shops, restaurants, parks and trails and its proximity, 0.5 mile, from the new Sound Transit Light Rail station opening in 2025 / 2026.
PROPERTY FACTS Under Contract
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Building Size
49,915 SF
Building Class
B
Year Built
1983
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
9’
Building FAR
0.37
Lot Size
3.06 AC
Zoning
TSQ
Parking
192 Spaces (3.85 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 920020-0020 | Improvements Assessment | $1,000 |
| Land Assessment | $25,993,500 | Total Assessment | $25,994,500 |
PROPERTY TAXES
Parcel Number
920020-0020
Land Assessment
$25,993,500
Improvements Assessment
$1,000
Total Assessment
$25,994,500
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