316 116th Ave NE, Bellevue, WA 98004

NNN Retail · Bellevue · Seattle-Bellevue metro, WA

Imagery suggests: multi-story mixed-use with structured parking, appears multi-tenant. AI estimate from public imagery. In recent public imagery (2026-06), the building appears well maintained. AI estimate from public imagery; may be outdated.

One of 167 reachable nnn retail buildings in Bellevue. Larger than 97% of nnn retail buildings in Bellevue (median 9,156 SF), derived from assessor records.

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Building size: 434,093 SF, King County Assessor
Lot size: 217,734 SF, King County Assessor
Year built: 2018, King County Assessor
Stories: 4, King County Assessor
Predominant use: Mixed Use Building, King County Assessor
Assessed value: $63,169,300, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $145.52/SF, derived from assessor records
Lot coverage: 199%, derived from assessor records
Vintage: 2010s vintage
Zoning: MU-H, King County
County use code: Retail Store
Construction (observed): metal, AI estimate from public imagery
Parking (observed): structured, AI estimate from public imagery
Frontage (observed): mid block, AI estimate from public imagery

Nearby comparable buildings

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

400 116th Ave NE, Bellevue · 0.1 mi · 188,122 SF · built 2016 · assessed $188.21/SF
120 116th Ave NE, Bellevue · 0.1 mi · 18,578 SF · built 1974 · assessed $1,380/SF
420 116th Ave NE, Bellevue · 0.1 mi · 12,666 SF · built 1962 · assessed $1,100/SF
411 116th Ave NE, Bellevue · 0.1 mi · 32,752 SF · built 2016 · assessed $1,148/SF
430 116th Ave NE, Bellevue · 0.2 mi · 23,931 SF · built 1962 · assessed $913.20/SF
457 120th Ave NE, Bellevue · 0.2 mi · 77,900 SF · built 2002 · assessed $312.80/SF

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Sale history and market context

MakeMe Estimate: $72,003,198 (estimated market value), with a likely range of $52,770,621 to $84,209,081 (half of recent verified sales in this segment landed inside that range). Based on 28 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works.

Current ownership dates to 2009 (about 17 years) per recorded transfers.

2017-02-14: transfer from Bellevue 116th Avenue LLC to Bellevue 116th Avenue South LLC (non-market transfer), rec. 20170221000352

2009-08-19: $35,794,758 from KG Investment Properties III LLC to Bellevue 116th Ave LLC (part of a 4-parcel sale; price is the whole deal), rec. 20090819001153

2006-04-28: $23,550,000 from Chrysler Bellevue LLC to KG Investments Properties III LLC (part of a 3-parcel sale; price is the whole deal), rec. 20060501002332

2000-07-13: transfer from Private party to Chrysler Bellevue LLC (part of a 3-parcel sale; price is the whole deal), rec. 20000731000869

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

Value over time

Solid line: county appraised value per King County tax rolls. Shaded range: our modeled estimate for each year, built from recorded arm's-length sales in the building's segment; years without enough sales stay unmodeled. Dots: recorded arm's-length sales. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $5,362,900 (2011) to $63,169,300 (2026), up 1078% over 15 years, per county tax rolls. The 2026 roll splits $63,169,300 into $32,825,700 land and $30,343,600 improvements.

Zoning: MU-H (per King County)

Lot: 217,734 sq ft

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Street surface: Paved

Floor and use mix: Parking Structure 253,400 SF; Retail Store 89,007 SF; Medical Office 44,851 SF; Supermarket 26,047 SF; Mixed Use Retail 15,104 SF; Line Retail 5,684 SF (county building sections)

County districts report (schools, fire, sewer, council; on kingcounty.gov)

Permit history

2025-02-12: Remodel, declared value $800,000 (Revisit), permit 24 126183 BZ

2024-02-20: Remodel, declared value $3,000,000 (Screened), permit 24 100076 BZ

2021-04-15: Remodel, declared value $163,682 (Complete), permit 21 103305 BY

2020-01-02: Remodel, declared value $89,624 (Complete), permit 19 112572 BY

2019-11-18: Remodel, declared value $1,714,673 (Complete), permit 18 133252 BY

2019-10-08: Remodel, declared value $1,510,029 (Complete), permit 18 123891 BY

2019-08-23: Remodel, declared value $1,799,501 (Complete), permit 19 110013 BY

2019-07-16: Remodel, declared value $800,106 (Complete), permit 18 131815 BY

2018-05-02: Building, New, declared value $52,572,054 (Complete), permit 17 121150 BB

2018-03-13: Accessory, New, declared value $1,700,000 (Complete), permit 17 117351 BW

Source: King County permit records (newest first).