Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Kirkland Office Space Available Title is generated by Realmo AI

    116 Central Way, Kirkland, WA 98033

    View on Map
    Claim this Listing
    For Lease
    $9,642/Mo $52 SF/Yr (calc)

    Professional office space in Kirkland with private suites and amenities.

    Type:Commercial
    Property size:
    2,225 SF
    Added:
    Feb 13, 2026
    Days on Market:
    111
    Last Refresh:
    Apr 5 at 11:20 pm

    Property Features for 116 Central Way

    General Information

    Standard status
    Active
    Size
    2,225 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1922

    We can help!

    Listing Contact
    BLAKE STEDMAN
    BLAKE STEDMAN

    Listing agent BLAKE STEDMAN License #WA2495

    Listing office NAI PUGET SOUND PROPERTIES

    Listing date Feb 13, 2026

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NAI PUGET SOUND PROPERTIES

    HighLights

    • Prime location: One block from Kirkland waterfront and Marina Park with abundant foot traffic and visibility.
    • Convenient access to I‑405 and SR 520.
    • Functional layout: Includes 5 private suites, conference room, additional work room, 2 bathrooms, kitchenette, break room, and mother’s room.
    • Current professional office layout.
    • Sizeable space: 2,225 SF available.
    • Available 7/1/2026.

    Overview

    This commercial real estate offers 2,225 square feet of office space. The current layout features five private suites, a conference room, and an additional work room. It includes two bathrooms, a kitchenette, a break room, and a mother’s room. The property benefits from abundant foot traffic and visibility, situated one block from the Kirkland waterfront and Marina Park. Convenient access to I-405 and SR 520 is available. The space will be available starting 7/1/2026.
    Property Profile Location Intelligence

    Current Use by Public Records

    Coastline Burgers Kirkland Restaurant Forge Pizza Restaurant

    Suggested Use

    Law Firm Restaurant Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kirkland
    County
    King
    State
    Washington
    Longitude
    -122.208
    Latitude
    47.6767

    Nearby Similar for Lease

    • Sponsored
      $129-$7,476/Mo
      11-1,292 SF

      WA, Kirkland - Corporate Center

      11335 122Nd Way, Unit 105, Kirkland, WA 98034
      View Details
    • $52 SF/Yr
      2,225 SF

      Prime Downtown Kirkland Retail Space

      Highly visible retail space in Kirkland's vibrant downtown area.
      116 - 122 Central Way, Kirkland, WA 98033
      View Details
    • $52 SF/Yr
      2,225 SF

      Prime Downtown Kirkland Retail Space

      Highly visible retail space in Kirkland's vibrant downtown area.
      116 - 122 Central Way, Kirkland, WA 98033
      View Details
    • $30 SF/Yr
      3,223 SF

      Kirkland Office Space For Lease

      Second floor office suite near downtown Kirkland with covered parking.
      1029 Market St, Suite 201, Kirkland, WA 98033
      View Details
    • $39 SF/Yr
      873 SF

      Office Suites Near Downtown Kirkland

      Two office suites available near downtown Kirkland for lease.
      1207-1211 Market St, Kirkland, WA 98033
      View Details
    • $30 SF/Yr
      4,213 SF

      Downtown Kirkland Retail Space Available

      High-visibility retail space in downtown Kirkland with excellent foot traffic.
      108 Central Way, Kirkland, WA 98033
      View Details
    • $45 SF/Yr
      7,149 SF

      Kirkland Office Building For Rent

      Four-story office building in downtown Kirkland, built in 1995.
      520 Kirkland Way, Kirkland, WA, 98033
      View Details
    • $13,038/Mo
      10,430 SF

      Sprinklered Warehouse with Dock-High Loading

      Warehouse space features 16’ clear height and sprinkler system with dock-high and side-loading access.
      11801 116th St, Kirkland, WA 98033
      View Details
    • $5,218/Mo
      1,789 SF

      Kirkland Office Building with Views

      Prominent office building with views and convenient access.
      11250 Kirkland Way, Kirkland, WA 98033
      View Details
    • $9,198/Mo
      4,383 SF

      Kirkland Office Space for Lease

      Upgraded office building with tenant amenities and ample parking.
      12220 113th Ave NE, Kirkland, WA 98034
      View Details
    • $30 SF/Yr
      11,995 SF

      Kirkland Office Space For Lease

      Second floor office suite near downtown Kirkland with covered parking.
      1029 Market St, Suite 201, Kirkland, WA 98033
      View Details
    • $13,304/Mo
      6,345 SF

      Kirkland Office Space for Lease

      Upgraded office building with tenant amenities and ample parking.
      12220 113th Ave NE, Kirkland, WA 98034
      View Details

    FAQs

    What type of property is this?
    Office units - Professional office space in Kirkland with private suites and amenities.
    Where is this office units located?
    The property is located at 116 Central Way Kirkland, WA.
    What is the lease rate?
    The lease rate is $9,642 /Mo.
    What are key features of this property?
    This property features: Prime location: One block from Kirkland waterfront and Marina Park with abundant foot traffic and visibility.; Convenient access to I‑405 and SR 520.; Functional layout: Includes **5 private suites, conference room, additional work room, 2 bathrooms, kitchenette, break room, and mother’s room.**
    (425) 652-1722
    We can help!
    Listing Contact
    BLAKE STEDMAN
    BLAKE STEDMAN
    Real Estate License ID: WA2495
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    116 Central Way, Kirkland, WA 98033
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!