Meridian Tower
500 108th Avenue NE, Bellevue, WA 98004 · Office · 142,300 SF · Built 1989 (renovated 2016) · Meridian Office Investors LLC
Financials actuals through Jun 2026
NOI, trailing 12 mo$2,631,290Jul 2025 – Jun 2026
NOI 2026 YTD$1,333,995through Jun 2026
NOI budget, same months$1,367,544Jan–Jun 2026
NOI budget 2026$2,735,088full-year budget
NOI 2025 full year$2,593,615
Monthly NOI — actual vs budget, last 24 months
Actual Budget ·
2026 operating statement — YTD actual vs YTD budget (through Jun 2026)
| Category | Actual YTD | Budget YTD | Variance | % |
|---|---|---|---|---|
| Revenue | ||||
| Base rent | $2,705,984 | $2,728,464 | $-22,480 | -0.8% |
| CAM / expense recoveries | $59,718 | $60,732 | $-1,014 | -1.7% |
| Percentage rent | $0 | $0 | — | — |
| Other income | $190,465 | $192,324 | $-1,859 | -1.0% |
| Vacancy loss | $365,334 | $368,454 | $-3,120 | -0.8% |
| Bad debt | $12,582 | $12,654 | $-72 | -0.6% |
| Effective gross income | $2,578,251 | $2,600,412 | $-22,161 | |
| Operating expenses | ||||
| Property taxes | $306,423 | $304,944 | $1,479 | 0.5% |
| Insurance | $74,590 | $73,986 | $604 | 0.8% |
| Utilities | $198,047 | $209,046 | $-10,999 | -5.3% |
| Repairs & maintenance | $122,613 | $102,000 | $20,613 | 20.2% |
| Janitorial | $164,666 | $164,970 | $-304 | -0.2% |
| Landscaping / grounds | $18,065 | $17,994 | $71 | 0.4% |
| Security | $85,345 | $84,984 | $361 | 0.4% |
| Management fees | $76,766 | $77,484 | $-718 | -0.9% |
| Payroll | $145,013 | $144,972 | $41 | 0.0% |
| Professional fees | $22,784 | $22,494 | $290 | 1.3% |
| General & administrative | $29,944 | $29,994 | $-50 | -0.2% |
| Total operating expenses | $1,244,256 | $1,232,868 | $11,388 | |
| Net operating income | $1,333,995 | $1,367,544 | $-33,549 | |
Actual figures are monthly book entries stored for this property; budget columns sum the adopted budget over the same months as the actuals, so variances compare like with like. The full-year budget appears in the summary tile above. Vacancy and bad debt are shown as revenue deductions.