12399 Northup Way, Bellevue, WA 98005

Single-Tenant Industrial · Bellevue · Seattle-Bellevue metro, WA

One of 12 reachable single-tenant industrial buildings in Bellevue. Larger than 83% of single-tenant industrial buildings in Bellevue (median 84,525 SF), derived from assessor records.

Usable building area
103,832 SF, King County Assessor
County gross area
139,709 SF, King County Assessor
Excluded area
35,877 SF outside primary usable area
Lot size
53,191 SF, King County Assessor
Year built
2016, King County Assessor
Stories
4, King County Assessor
Predominant use
Mini Warehouse, King County Assessor
Assessed value
$30,094,100, per the King County Assessor (not a market appraisal)
Assessed value per usable SF
$289.83/SF, derived from assessor records
Usable area / lot
1.95, derived from assessor records
Vintage
2010s vintage
Zoning
BR-OR, King County
County use code
Mini Warehouse

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

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Sale history and market context

MakeMe Estimate range: $24.7M to $36.7M (estimated market value range). This building's own 2026 recorded sale at $50.7M sits 69% above this estimate's midpoint, so we lead with the range rather than a single number. Based on 6 verified arm's-length comparable sales (through 2026-06-01). Not an appraisal. How this estimate works.

lower confidence: 0 comparable sales within 3 miles; nearest 7.4 mi. This property type carries wider measured error; treat the estimate as a starting point. Recent sale check: this building sold for $50,661,000 in 2026; the estimate is about 41% apart. Treat the recorded trade as strong evidence alongside the model.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. Buyer and seller names are withheld. Get this data via API.

Market context: Industrial in Bellevue

median verified sale $462.93/SF over the trailing 24 months; 2 sales in the last 12 months and 5 in 24 (newest verified sale 2026-05).

Computed from 115 verified arm's-length sales in King County public records (5 in the trailing 24 months). Free public records. Not an appraisal.

Last sold: 2026-05-06 for $50,661,000 (recorded arm's-length sale).

Current ownership dates to 2026 per recorded transfers.

Source: King County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

$0$20M$40M$60M$80M201120142017202020232026$2.23MLast sold $50.7M · 2026$30M$30.1MCounty assessed valueMakeMe Estimate rangeRecorded sale

Dark line: county assessed value per King County tax rolls. Blue line: our estimate; dashed years are a modeled backcast built from recorded arm's-length sales in the building's segment, not estimates published at the time, and years without enough sales stay unmodeled. The shaded range is the model's measured error band; about half of verified sales in the segment land inside it. Diamonds: recorded arm's-length sales. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $2,127,600 (2011) to $30,094,100 (2026), up 1314% over 15 years, per county tax rolls. The 2026 roll splits $30,094,100 into $5,851,000 land and $24,243,100 improvements.

Taxes

Permit history

Source: King County permit records (newest first).