Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    12832 85Th St Kirkland, WA 98033

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,850,000

    High-traffic location with redevelopment potential and existing 900 SF building.

    Property size:
    900 SF

    Property Features for 12832 85Th St

    General Information

    Standard status
    Active
    Size
    900 SF

    We can help!

    Listing Contact
    Travis Kalamakis
    Source: Corcoran

    Listing Agent: Travis Kalamakis

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

    Learn more

    Property Insight Report

    Overview

    Redevelopment Opportunity in High-Traffic Area

    This 0.32-acre property presents a redevelopment or owner-user opportunity. Situated on a high-traffic corridor within a rapidly growing area, it is suitable for investors or businesses seeking visibility and future potential. The existing 900 SF office/retail building offers immediate usability. Zoned RH8, the property provides numerous redevelopment options. Ongoing area revitalization enhances the chance to secure a strategically located property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Amazing Heroes Comic Book Store The Hungry Herbivore Vegan Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Kirkland
    County
    King
    State
    Washington
    Longitude
    -122.1679795
    Latitude
    47.6796804

    Nearby Similar for Sale

    • $738,650
      1,163 SF

      Kirkland Home Near Downtown

      Newly completed 1-bedroom home near shopping, dining, and waterfront.
      421 14Th Ave W, Kirkland, WA 98033
      View Details
    • $3,995,000

      Kirkland Turn-Key Sports Bar

      Fully operational sports bar with high ceilings and extensive infrastructure.
      14417 124Th Ave, Kirkland, WA 98034
      View Details
    • $2,698,990
      2,836 SF

      New Contemporary Home in Moss Bay

      Stunning new home near Kirkland waterfront with lake and mountain views.
      207 2Nd Ave S, Kirkland, WA 98033
      View Details
    • $1,199,999
      2,155 SF

      New Construction Home Ready Now

      New construction home featuring a covered deck and luxurious primary suite.
      13217 NE 127 Way, Kirkland, WA 98034
      View Details
    • $1,099,999
      2,002 SF

      New Construction Home Ready Now

      Three-level home near parks, waterfront, shops, dining, and schools.
      13217 NE 127Th Ct, Kirkland, WA 98034
      View Details
    • $489,900

      Updated Condo with Garage

      Ground floor condo with modern updates and resort-style amenities.
      12618 109Th Ct NE, Kirkland, WA 98034
      View Details
    • $1,179,999
      2,202 SF

      New Construction Three-Level Home

      New construction home featuring an open-concept layout and covered deck.
      13214 NE 127Th Ct, Kirkland, WA 98034
      View Details
    • $1,099,999
      2,002 SF

      New Construction Three-Story Home

      New construction three-story home with upgraded features and convenient location.
      13217 NE 127Th Ct, Kirkland, WA 98034
      View Details
    • $1,024,999
      2,002 SF

      New Construction Home Ready Now

      New construction home featuring a spa-like primary suite and covered deck.
      13217 NE 127Th Ct, Kirkland, WA 98034
      View Details
    • $1,540,000

      New Kirkland Cottage with Luxury

      New three-bedroom cottage in Kirkland's Forbes Creek neighborhood.
      10511 NE 112Th St, Kirkland, WA 98033
      View Details
    • $1,149,999
      2,200 SF

      New Construction Home Ready Now

      New construction home featuring a gourmet kitchen and spa-like bathroom.
      13214 NE 127Th Ct, Kirkland, WA 98034
      View Details
    • $1,124,999
      2,202 SF

      New Construction Three-Story Home

      New construction three-story home with open floor plan and modern amenities.
      13220 NE 127Th Ct, Kirkland, WA 98034
      View Details

    FAQs

    What type of property is this?
    Commercial land - High-traffic location with redevelopment potential and existing 900 SF building.
    Where is this commercial land located?
    The property is located at 12832 85Th St Kirkland, WA.
    What is the asking price?
    The asking price for this property is $2,850,000.
    What are key features of this property?
    This property features: - Prime redevelopment opportunity with RH8 zoning.; - Located on a high-traffic corridor in a rapidly growing area.; - .32-acre property ideal for investors or businesses.
    Request Owner's contact information
    12832 85Th St Kirkland, WA 98033
    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.
    12832 85Th St
    Kirkland, WA 98033
    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
    12832 85Th St Kirkland, WA 98033
    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

    We can help!
    Listing Contact
    Travis Kalamakis
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.