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$4,890,000
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Property Description
WPI Real Estate is pleased to present an exceptional opportunity to own 12509 NE Bel-Red Road, Bellevue, a prime, free-standing office building that is strategically positioned just one block from the Meta-anchored Spring District. Featuring highly versatile 'O' (Office) zoning, this asset accommodates a broad spectrum of permitted uses, including day care centers, professional offices, medical clinics, educational and religious facility. The property offers a rare, turnkey advantage: while currently 100% tenanted, the seller will secure early lease terminations, allowing an owner-user to occupy all or a portion of the space without the hassle or cost of tenant buyouts. Located at the epicenter of regional connectivity, the site is close to the Spring District and Wilburton Light Rail Stations, with immediate access to I-405 and SR-520 for effortless Puget Sound commuting. Positioned directly in the path of growth, the property will significantly benefit from upcoming changes to Bellevue's Comprehensive Plan, which will allow for higher density, drive population growth, and inherently enhance the underlying long-term value of the site.
Full Property Details
Full Property Details for 12509 NE Bel Red Rd
General
- Price: $4,890,000
- HOA FEE: $450/month
- Status: Active
- Type: Industrial
- Source: NWMLS
- MLS ID: 2490740
- Updated: 3/10/2026
- Added to Site: 25 day(s) ago
Rental Information
- Complex Features: Disabled Access, Sprinklered, Storage
Interior
- Flooring: Vinyl, Carpet
Parking
- Uncovered Spaces: 24
Location
- Area: 530 - Bellevue/East of 405
- County: King
- Subdivision: Wilburton
- Driving Directions: From 124th Ave NE; RT on NE 10th Pl; take 3rd LT into the Forum South Building complex (past Quadrant new construction) to Building C.
Community
- Association: Yes
Heating & Cooling
- Air Conditioning: Yes
- Cooling Type: Forced Air
- Heating Type: Forced Air
Utilities
- Sewer: Sewer Connected
Structural Information
- Structure Type: Unspecified
- Exterior Const.: Wood
- Roof: Composition
- Office: 7,686 Sq. Ft.
- Year Built: 1983
- Property Condition: Good
Lot Features
- Lot Size (Acres): 0.6593
- Lot Size (Sq. Ft.): 28,720
- Lot Size Source: KCR
- Lot Dimensions: Commercial, Office
- Lot Depth: 274
Financial Considerations
- Association Fee: $450
- Assoc Fee Freq.: Monthly
- Terms: Cash, Conventional
Disclosures and Reports
- Special Conditions: None
- Surveyed: false
- Property ID: 2608000030
- Block: Forum South Plat
- Lot Number: C
Listed by TC Wu | WPI Real Estate Services, Inc. | (206) 522-8172
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Schools
Schools serving 12509 NE Bel Red Rd
School District:Bellevue School District
| Name | Grades | Distance |
|---|---|---|
Clyde Hill Elementary School 9601 NE 24th Street, Bellevue, WA 98004 | K-5 | 2 mi |
Chinook Middle School, Bellevue, WA 2001 98th Ave NE, Bellevue, WA 98004 | 6-8 | 1.9 mi |
Bellevue High School 10416 Wolverine Way, Bellevue, WA 98004 | 9-12 | 1.6 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 12509 NE Bel Red Rd
Date
Details
Price
Change
Source
3/10/2026
Listed
$4,890,000
43.82%
MLS
5/24/2021
Sold
$3,400,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 12509 NE Bel Red Rd
Year
Property Taxes
Change
Tax Assessment
Change
2024
$27,889
15%
$3,804,300
16%
2024
$24,325
5%
$3,285,500
—
2022
$23,247
1%
$3,285,500
27%
2021
$22,962
9%
$2,593,800
7%
2020
$21,095
11%
$2,420,900
5%
2019
$18,950
32%
$2,305,800
48%
2018
$14,322
5%
$1,556,300
—
2017
$13,583
5%
$1,556,300
6%
2016
$12,968
14%
$1,474,900
15%
2015
$11,387
4%
$1,282,200
12%
2014
$10,959
—
$1,149,800
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 12509 NE Bel Red Rd
12509 NE Bel Red Road, Bellevue, WA 98005 (MLS# 2490740) is a Industrial property. 12509 NE Bel Red Road is currently listed for $4,890,000 and was received on March 10, 2026. Want to learn more about 12509 NE Bel Red Road? Do you have questions about finding other Industrial real estate for sale in Bellevue? You can browse all Bellevue real estate or contact a Coldwell Banker agent to request more information.

