Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8003 118th Ave NE Kirkland, WA 98033

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,500,000

    Two-story office building in excellent condition with parking.

    Type:Commercial
    Property size:
    3,000 SF
    Added:
    Mar 5, 2025
    Days on Market:
    409
    Last Refresh:
    Apr 5 at 8:55 pm

    Property Features for 8003 118th Ave NE

    General Information

    Standard status
    Active
    Size
    3,000 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    FRED MATTISON

    Listing agent FRED MATTISON

    Listing office JOHN L. SCOTT - BELLEVUE-ISSAQUAH

    Listing date Mar 5, 2025

    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 JOHN L. SCOTT - BELLEVUE-ISSAQUAH

    Overview

    Kirkland Office Building For Sale

    This is a two-story office building with an open layout and perimeter offices. The building has 3,000 square feet of space and is situated on an 8,354 square foot parcel. The property is zoned NMU. The building is in excellent condition. Each floor has its own lobby entrance, allowing it to be occupied by two tenants. There are bathrooms on both levels and a kitchen on the upper level. The property includes 10 parking spaces. An adjoining parcel with a professional office is also available, with plans for a new building being reviewed by the City of Kirkland. This property is suitable for owner-occupancy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Nash & Associates Architects Architect

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Kirkland
    County
    King
    State
    Washington
    Longitude
    -122.183
    Latitude
    47.6757

    Nearby Similar for Sale

    • $1,700,000
      8,590 SF

      Kirkland Office Building Development Opportunity

      Development opportunity near NE 85th Station with NMU zoning.
      11644 NE 80th Street, Kirkland, WA 98033
      View Details
    • $2,100,000
      3,700 SF

      Medical Commercial Condominium Opportunity

      Medical commercial condominium for sale, suitable for owner/user or investment.
      11415 Slater Ave NE, Kirkland, WA 98033
      View Details
    • $12,600,000
      1,623 SF

      Kirkland Office Space Sublease

      Sublease available with private offices, workstations, and meeting rooms.
      625 4th Ave, Kirkland, WA
      View Details
    • $7,500,000
      9,250 SF

      Kirkland Retail Building with Renovation

      Downtown Kirkland retail building featuring recent renovations and historic charm.
      116 Central Way, Kirkland, WA 98033
      View Details
    • $4,950,000

      Kirkland Office Building For Sale

      High-quality office asset in Kirkland, Washington, near major employers.
      903 5th Ave, Kirkland, WA 98033
      View Details
    • $3,995,000
      4,145 SF

      Turn-Key Sports Bar Opportunity

      Fully operational sports bar in Kirkland's busy commercial corridor.
      14417 124th Ave NE, Kirkland, WA
      View Details
    • $3,995,000

      Kirkland Sports Bar Opportunity

      Fully operational sports bar with high ceilings and extensive infrastructure.
      14417 124th Avenue NE, Kirkland, WA 98034
      View Details
    • Contact for pricing

      Kirkland Office Branding Opportunity

      Office building with prominent branding and signage opportunities.
      229 8th Street South, Kirkland, WA, 98033
      View Details
    • $3,600,000

      Kirkland Office Building For Sale

      Office building for sale in Kirkland, Washington.
      790 6th St S, Kirkland, WA
      View Details
    • $1,800,000
      4,344 SF

      Kirkland Multifamily Property For Sale

      Multifamily property in Kirkland's Totem Lake neighborhood.
      12607 119th St, Kirkland, WA 98034
      View Details
    • $3,950,000
      4,448 SF

      Kirkland Freestanding Office Building For Sale

      Freestanding Kirkland office building with high-end finishes and fenced parking.
      720 8th Ave, Kirkland, WA 98033
      View Details
    • $18,500,000
      34,250 SF

      Kirkland Lakeview Office Building For Sale

      34,240 SF office property in Kirkland, Washington.
      6710 108th Ave NE, Kirkland, WA
      View Details

    FAQs

    What type of property is this?
    Office building - Two-story office building in excellent condition with parking.
    Where is this office building located?
    The property is located at 8003 118th Ave NE Kirkland, WA.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Owner‑occupied office building in excellent condition.; NMU zoning allows for flexible usage.; Potential for two tenants with separate entrances on each floor.
    (425) 392-1211
    We can help!
    Listing Contact
    FRED MATTISON
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!