For Sale | 165 Belle Forest Circle
Owner User or Low Maintenance Office Investment
Marketing description
This 1,848 SF commercial condominium located within Bellevue Office Park presents a compelling investment or owner-user opportunity. Unit A is available for lease or owner-occupancy, while Unit B is currently leased to a stable dental office, providing immediate in-place income with future upside.
Priced at $549,000, Unit A offers projected lease rates of $25.00/SF NNN, creating instant NOI growth upon stabilization and resulting in a 6.85% stabilized cap rate. The property benefits from low-maintenance ownership, with HOA coverage including water, trash, and exterior maintenance.
Capital improvements include a new roof replaced by the HOA in 2025 and a new HVAC system installed by the owner in 2025. This asset is ideal for owner-users seeking supplemental income or investors targeting a stable, well-maintained commercial condominium with strong fundamentals.
Investment highlights
1,848 SF two-unit commercial condominium
Located within Bellevue Office Park
Unit A (Lower Level): Vacant – lease or owner-user
Projected lease rate: $25.00/SF/YR NNN
Suitable for office or light retail
Unit B (Upper Level): Leased dental office
NOI upside upon lease-up
HOA covers water, trash, and exterior maintenance
New Roof installed 2025
New HVAC installed 2025
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