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16440 85th St 0.5 Acres of Commercial Land Offered at $4,750,000 in Redmond, WA 98052

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INVESTMENT HIGHLIGHTS

Strong Rental Market: Downtown Redmond’s average monthly rent is $2,461, with a rent growth of 4.6% over the past year
Transit-Oriented Development Potential: Located just 0.2 miles from the Redmond Transit Center offers unparalleled connectivity.

Rental Advantage: With a 79% cost advantage, renting in Redmond is significantly more affordable than homeownership.

EXECUTIVE SUMMARY

A recent upzone has designated the property within Downtown Edge (DE) zoning, allowing for a range of commercial and residential uses with a base maximum height of 45 feet before incentive increases. 16440 NE 85th Street provides buyers with a prime opportunity to repurpose a centrally located & flat property in Downtown Redmond.

TAXES & OPERATING EXPENSES (ACTUAL - 2025) Click Here to Access	ANNUAL	ANNUAL PER AC
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$99,999	$9.99

TAXES & OPERATING EXPENSES (ACTUAL - 2025) Click Here to Access

Taxes
Annual	-
Annual Per AC	-

Operating Expenses
Annual	-
Annual Per AC	-

Total Expenses
Annual	$99,999
Annual Per AC	$9.99

PROPERTY FACTS

Price	$4,750,000	Property Subtype	Commercial
Sale Type	Owner User	Proposed Use	Commercial Retail Office Mixed Use Multifamily Hospitality Apartment Units Apartment Units - Condo Apartment Units - Dorms Apartment Units - Senior Apartment Units - Subsidized Auto Dealership Auto Repair Bank Bar Baseball Field Bowling Alley Carwash Casino Cemetery or Mausoleum Community Center Convenience Store Daycare Center Department Store Drugstore Fast Food Funeral Home Garden Center General Freestanding Healthcare Health Club Hold For Development Hold For Investment Hotel Lodge or Meeting Hall Loft or Creative Space Medical Motel Movie Theater Movie, Radio or Television Studio Neighborhood Center Office Park Police or Fire Station Post Office Public Library Public Park Public Swimming Pool Research and Development Rehabilitation Center Religious Facility Restaurant Retail Warehouse Schools Self Storage Service Station Shelter Specialty, Festival or Entertainment Storefront Storefront, Retail or Office Storefront, Retail or Residential Strip Center Supermarket Veterinarian or Kennel Winery or Vineyard Amusement Park
No. Lots	1	Total Lot Size	0.50 AC
Property Type	Land
Zoning	Downtown Edge - Downtown Edge zoning allows up to 45 feet before incentive adjustments, enabling dense multifamily development.

Price	$4,750,000
Sale Type	Owner User
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Commercial Retail Office Mixed Use Multifamily Hospitality Apartment Units Apartment Units - Condo Apartment Units - Dorms Apartment Units - Senior Apartment Units - Subsidized Auto Dealership Auto Repair Bank Bar Baseball Field Bowling Alley Carwash Casino Cemetery or Mausoleum Community Center Convenience Store Daycare Center Department Store Drugstore Fast Food Funeral Home Garden Center General Freestanding Healthcare Health Club Hold For Development Hold For Investment Hotel Lodge or Meeting Hall Loft or Creative Space Medical Motel Movie Theater Movie, Radio or Television Studio Neighborhood Center Office Park Police or Fire Station Post Office Public Library Public Park Public Swimming Pool Research and Development Rehabilitation Center Religious Facility Restaurant Retail Warehouse Schools Self Storage Service Station Shelter Specialty, Festival or Entertainment Storefront Storefront, Retail or Office Storefront, Retail or Residential Strip Center Supermarket Veterinarian or Kennel Winery or Vineyard Amusement Park
Total Lot Size	0.50 AC
Zoning	Downtown Edge - Downtown Edge zoning allows up to 45 feet before incentive adjustments, enabling dense multifamily development.

1 LOT AVAILABLE

Lot

Price	$4,750,000	Lot Size	0.50 AC
Price Per AC	$9,500,000.00

Price	$4,750,000
Price Per AC	$9,500,000.00
Lot Size	0.50 AC

16440 NE 85th Street, a 21,750-square-foot property situated in the heart of Redmond. The property currently has a +/-2,200 sqft medical office and two storage buildings totaling +/-1,800 sqft and is supported by ample parking.

DESCRIPTION

The location benefits from exceptional connectivity, including its proximity to the Redmond Transit Center (0.2 miles) and the Sound Transit East Link Light Rail station. These features, coupled with flexible development options, position the site as a unique value proposition in one of the Eastside’s fastest growing markets. This property is ideally situated near Redmond’s key amenities, offering immediate access to shopping, dining, and recreational opportunities. Its walkable and bikeable location, in close proximity to Lake Sammamish and Marymoor Park, enhances the appeal to future residents.

PROPERTY TAXES

Parcel Number	012505-9116	Improvements Assessment	$1,000 (2024)
Land Assessment	$3,697,500 (2024)	Total Assessment	$3,698,500 (2024)

PROPERTY TAXES

Parcel Number

012505-9116

Land Assessment

$3,697,500 (2024)

Improvements Assessment

$1,000 (2024)

Total Assessment

$3,698,500 (2024)

(215) 917-1742

CONTACT

Stren Lea
Lee & Associates Commercial Real Estate Services

Listing ID: 37240352
Date on Market: 8/12/2025
Last Updated:
Address: 16440 85th St, Redmond, WA 98052

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