Seattle-Bellevue Commercial Value Report: Q2 2026
Data through 2026-05-29.
This report covers the 22,686 commercial parcels makeme1031 tracks across the metro's King County submarkets, representing about $206550M in county appraised value. Every figure below is computed from King County tax rolls and recorded sales through 2026-05-29; nothing is estimated by hand and nothing is behind a paywall.
The quarter's verified trades
80 verified arm's-length sales recorded in the trailing quarter, median $2.65M. The largest:
- 12399 Northup Way, Bellevue sold 2026-05-06 for $50,661,000
- 11410 NE 122nd Way, Kirkland sold 2026-05-07 for $32,630,000
- 1516 NW 51st St, Seattle sold 2026-05-18 for $24,368,000
- 23200 64th Ave S, Kent sold 2026-04-08 for $23,275,000
- 7500 166th Ave NE, Redmond sold 2026-02-26 for $23,000,000
- 7901 S 190th St, Kent sold 2026-04-28 for $19,550,000
- 700 Powell Ave SW, Renton sold 2026-04-08 for $19,000,000
- 1530 5th Ave, Seattle sold 2026-05-11 for $16,900,000
- 7043 S 190th St, Kent sold 2026-03-12 for $16,500,000
- 800 Queen Anne Ave N, Seattle sold 2026-04-20 for $14,492,650
Submarkets
- Kent: 1,641 parcels, median county appraised value $3.1M, 7 verified sales this quarter. Browse Kent or see recent sales.
- Renton: 1,228 parcels, median county appraised value $2.06M, 4 verified sales this quarter. Browse Renton or see recent sales.
- Auburn: 1,209 parcels, median county appraised value $2.3M, 3 verified sales this quarter. Browse Auburn or see recent sales.
- Tukwila: 657 parcels, median county appraised value $4.63M, 0 verified sales this quarter. Browse Tukwila or see recent sales.
Where prices sit against the county roll
- multifamily: recent verified sales ran about 1.04x the county appraised value (765 sales), around $173 per building square foot.
- industrial: recent verified sales ran about 1.36x the county appraised value (285 sales), around $177 per building square foot.
- retail: recent verified sales ran about 1.28x the county appraised value (310 sales), around $228 per building square foot.
- office: recent verified sales ran about 1.22x the county appraised value (252 sales), around $169 per building square foot.
- other cre: recent verified sales ran about 1.16x the county appraised value (206 sales), around $251 per building square foot.
How accurate our estimates measured
We publish our own error numbers because that is the deal: tested on the most recent 12 months of verified sales the model had never seen (456 sales), the median error was 16.1% and about half of sales landed inside the shown range.
- multifamily: median error 11.6% over 201 sales; 75% within 20%.
- retail: median error 22.6% over 76 sales; 46% within 20%.
- industrial: median error 23.2% over 70 sales; 46% within 20%.
- office: median error 20.1% over 56 sales; 50% within 20%.
- other commercial: median error 22.3% over 53 sales; 45% within 20%.
Full method and the live accuracy table: how our estimates work. Our estimates are not an appraisal.
Every building in this report is reachable owner-direct, privately, with no broker in the middle: browse the metro.