Overlake Office Center

Property Type Office - Medical Office
Property Size 49,819 SF
Lot Size 2 Acre
Parking Spaces Avail. 129
Parking Ratio 2.60/ 1,000 SF
Property Tenancy Multi-Tenant
Building Class B
Year Built 1980

Location

Map
Street

City Redmond, WA
Neighborhood Overlake
Zip Code 98052
Market Seattle

Contacts

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Owner

True Owner

Tenants

Suite Name	Tenant	Leased Space	Rent Price	Lease Type	Space Type	Lease Term
370 17th Street #5500	MERRILL, (303) 446-5500	23,824 SF	$23/SF/YR	Modified Gross	General Office	11/01/2014- N/A
370 17th Street #6000	Morrison & Foerster, (303) 592-1500	10,710 SF	$26/SF/YR	Full Service	General Office	08/01/2013- 07/31/2023

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Documents

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Sales

Purchase Date 07 Oct, 2014
Purchase Price
Arm's Length True
Buyer Name

Mortgages

Current Lender
Loan Amount
Loan Origination Date
Loan Maturity Date

Market Trends

Average Actual Rents in Redmond

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent

Net Rent

$44.3/SF/YR

Recoverables Show detailsHide details

$16.7/SF/YR

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Occupancy & Leasing Activity

Occupancy

83.5%

Lease Spread

-20.5%

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Asking Rents in Redmond Office Market

Office rental rates are based on aggregated data of asking rates.

2020 Avg. Asking Rent $28.28
2020 Office Vacancy Rate 5.99%
2020 Office Completions (SF)

Redmond Office Sales Trends

All sale prices are based on publicly recorded, verified sales.

2020 Avg. Price per SF $436.84
Y-o-Y Avg. PpSF Change 40.06%
2020 Office Sales Volume $285M
2020 Number of Transactions 3

View more Redmond market trends

Tax

Property Tax in 2022 $108,199
Market Value* $12,581,100
Assessed Value $12,581,100

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*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

Frequently Asked Questions

What is the total square footage of Overlake Office Center?

Overlake Office Center totals 49,819 square feet.

When was this property built?

Overlake Office Center was built in 1980.

When was Overlake Office Center last sold?

Overlake Office Center was last sold on 07 Oct, 2014.

What is the property tax for Overlake Office Center?

The property tax for Overlake Office Center in 2022 was $108,199.

What is the market value for Overlake Office Center?

The market value* for Overlake Office Center in 2022 was $12,581,100.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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