Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • 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

    123 Lake St S Kirkland, WA 98033

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $55 SF/Yr ($18,745 /Mo)

    Newly renovated retail space near Kirkland amenities and transit.

    Property size:
    4,090 SF
    Lot size:
    0.23 Acres

    Property Features for 123 Lake St S

    General Information

    Size
    4,090 SF
    Lot size
    0.23 Acres

    We can help!

    Listing Contact
    Aaron Mathieu
    Aaron Mathieu
    Source: Moodyscre

    Listing Agent: Aaron Mathieu

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

    Learn more

    Property Insight Report

    Overview

    Kirkland Retail Space For Rent

    This retail space, comprising 4090 square feet, has been newly renovated with high-end finishes. Designated parking stalls are available. The property is located within walking distance to many amenities and is situated blocks from Marina Park Pavilion, Kirkland Urban, and the Kirkland Transit Center.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jen Cameron Real Estate Agent The Agency Seattle- Piper ... Real Estate Agent James Campbell, Broker, ... Real Estate Agent The Agency Seattle Real Estate Agency Dickinson Group - The Agency Real Estate Agent

    Suggested Use

    Law Firm Restaurant Realty agency Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply 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
    -122.2063786
    Latitude
    47.6747281

    Nearby Similar for Lease

    • $3,500 /Mo

      Kirkland Apartment with Water View

      Spacious 2 bed, 1.75 bath unit in downtown Kirkland.
      109 2Nd St S, Kirkland, WA 98033
      View Details
    • $11,500 /Mo
      4,045 SF

      Contemporary Home with Indoor/Outdoor Living

      Rare rental home with exquisite features, perfect for entertaining.
      332 13Th Ave, Kirkland, WA 98033
      View Details
    • $2,775 /Mo

      Remodeled Kirkland Condo For Rent

      Remodeled 2 bed, 2 bath condo in prime Kirkland location.
      11630 NE 70Th Pl, Kirkland, WA 98033
      View Details
    • $30 SF/Yr
      2,386 SF

      Kirkland Retail/Office Space Available

      High-visibility retail/office space in Kirkland's Totem Lake neighborhood.
      12340 NE 115Th Pl, Kirkland, WA 98034
      View Details
    • $3,250 /Mo
      1,630 SF

      Finn Hill Home For Rent

      Three-bedroom home near Juanita Beach Park, available for rent now.
      14144 76Th Pl NE, Kirkland, WA 98034
      View Details
    • $37 SF/Yr
      1,320 SF

      Modern Office Space in Kirkland

      Modern 1320 sq.ft. office space in Downtown Kirkland.
      450 Central Way, Kirkland, WA 98033
      View Details
    • $2,700 /Mo

      Kirkland Condo with Sunset Views

      Two-bedroom condo near Peter Kirk Park, includes parking and utilities.
      122 State St S, Kirkland, WA 98033
      View Details
    • Contact for pricing

      Prime Office Space in Kirkland

      Office space with freeway visibility and access to lakeside trails.
      10220 NE Points Dr, Kirkland, WA 98033
      View Details
    • Contact for pricing

      Prime Office Space in Kirkland

      Office space with freeway visibility and access to lakeside trails.
      10230 NE Points Dr, Kirkland, WA 98033
      View Details
    • Contact for pricing

      Prime Office Space in Kirkland

      Office space with freeway visibility and access to lakeside trails.
      10210 NE Points Dr, Kirkland, WA 98033
      View Details
    • $26 SF/Yr
      28,005 SF

      Prime Kirkland Office Space

      Modern Offices, Flexible Suites Available
      11232 120Th Ave, Kirkland, WA 98033
      View Details
    • $6,800 /Mo
      1,780 SF

      Medical Suite in Totem Lake

      Turnkey medical suite available for sublease in Kirkland, WA.
      13107 121St Way NE, Kirkland, WA 98034
      View Details

    FAQs

    What type of property is this?
    Retail space - Newly renovated retail space near Kirkland amenities and transit.
    Where is this retail space located?
    The property is located at 123 Lake St S Kirkland, WA.
    What is the lease rate?
    The lease rate is $55 SF/Yr.
    What are key features of this property?
    This property features: - Newly renovated with high-end finishes; - Walking distance to many amenities; - Blocks from Marina Park Pavilion
    (425) 454-4242
    Request Owner's contact information
    123 Lake St S 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.
    123 Lake St S
    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
    123 Lake St S 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
    Aaron Mathieu
    Aaron Mathieu
    (425) 454-4242
    Learn more
    Google sign-in failed. Please try again or use another login method.