The primary science goal of the Kepler Mission is to provide a census of exoplanets in the solar neighborhood, including the identification and characterization of habitable Earth-like planets. The asteroseismic capabilities of the mission are being used to determine precise radii and ages for the target stars from their solar-like oscillations. Chaplin et al. published observations of three bright G-type stars, which were monitored during the first 33.5 days of science operations. One of these stars, the subgiant KIC 11026764, exhibits a characteristic pattern of oscillation frequencies suggesting that it has evolved significantly. We have derived asteroseismic estimates of the properties of KIC 11026764 from Kepler photometry combined with ground-based spectroscopic data. We present the results of detailed modeling for this star, employing a variety of independent codes and analyses that attempt to match the asteroseismic and spectroscopic constraints simultaneously. We determine both the radius and the age of KIC 11026764 with a precision near 1%, and an accuracy near 2% for the radius and 15% for the age. Continued observations of this star promise to reveal additional oscillation frequencies that will further improve the determination of its fundamental properties.