345 118th Ave SE, Bellevue, WA 98005

Office · Bellevue · Seattle-Bellevue metro, WA

Imagery suggests: low-rise office, 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 AI estimate from public imagery; may be outdated.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 308 reachable office buildings in Bellevue. Larger than 30% of office buildings in Bellevue (median 23,608 SF), derived from assessor records.

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Building size: 9,348 SF, King County Assessor
Lot size: 22,402 SF, King County Assessor
Year built: 1990, King County Assessor
Stories: 2, King County Assessor
Predominant use: Office, King County Assessor
Assessed value: $4,471,900, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $478.38/SF, derived from assessor records
Lot coverage: 42%, derived from assessor records
Vintage: 1990s vintage
Zoning: MUR-M, King County
County use code: Office Building
Construction (observed): masonry, AI estimate from public imagery
Parking (observed): surface lot, 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.

325 118th Ave SE, Bellevue · 0 mi · 37,606 SF · built 1984 · assessed $253.94/SF
415 118th Ave SE, Bellevue · 0.1 mi · 41,988 SF · built 1991 · assessed $254.82/SF
275 118th Ave SE, Bellevue · 0.1 mi · 20,964 SF · built 1984 · assessed $263.91/SF
11624 SE 5th St, Bellevue · 0.1 mi · 37,774 SF · built 2001 · assessed $162.34/SF
11636 SE 5th St, Bellevue · 0.1 mi · 3,610 SF · built 1965 · assessed $423.07/SF
11715 SE 5th St, Bellevue · 0.2 mi · 14,326 SF · built 1984 · assessed $175.34/SF

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Sale history and market context

MakeMe Estimate: $5,639,042 (estimated market value), with a likely range of $5,491,321 to $7,450,728 (half of recent verified sales in this segment landed inside that range). Based on 185 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works.

Last sold: 2021-07-31 for $4,200,000 (recorded arm's-length sale).

Current ownership dates to 2021 (about 5 years) per recorded transfers.

2021-07-31: $4,200,000 from PPB LLC to Wilburton Holdings LLC, rec. 20210803001171

2017-12-28: transfer from 875 Building LLC to PPB LLC (non-market transfer), rec.

2017-09-14: $3,300,000 from Wilburton Ridge 345 LLC to 875 Building LLC, rec.

2013-12-10: $1,425,000 from Martin Family LLC II+Wilburton Ridge LLC to Wilburton Ridge 345 LLC, rec. 20131220000626

8 administrative transfers (no consideration), 1997 to 2006

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 $2,103,200 (2011) to $4,471,900 (2026), up 113% over 15 years, per county tax rolls. The 2026 roll splits $4,471,900 into $2,016,100 land and $2,455,800 improvements.

Zoning: MUR-M (per King County)

Lot: 22,402 sq ft

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Street surface: Paved

Floor and use mix: Office Building 8,518 SF; Basement, Semifinished 830 SF (county building sections)

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