Add Listing
    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

    11232 120Th Ave NE Kirkland, WA 98033

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $4,043 /Mo ($26 SF/Yr)

    Office space available for lease in Kirkland, Washington.

    Property size:
    1,866 SF
    Lot size:
    1,866 SF

    Property Features for 11232 120Th Ave NE

    General Information

    Standard status
    Active
    Size
    1,866 SF

    Building Details

    Year built
    1975

    We can help!

    Listing Contact
    Aaron Kraft
    Source: Corcoran

    Listing Agency: KIDDER MATHEWS Listing Agent: Aaron Kraft

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

    Learn more

    Overview

    Kirkland Office Space Available

    This commercial real estate offers office units and spaces for rent in Kirkland, Washington. The property provides 1866 square feet of space, suitable for office use.
    Location Intelligence

    Current Use by Public Records

    Polaris Applied Sciences ... Environmental Consultant Audian Tech Support Center Harmonious Family Therapy Marriage Or Relationship Counselor Groomer's Best Friend Sharpening Service Jennifer Peloquin Marriage Or Relationship Counselor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Kirkland
    County
    King
    State
    Washington
    Longitude
    -122.1806606
    Latitude
    47.7012533

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      WA, Kirkland - Corporate Center

      Discover many ways to work your way in AZ, Phoenix - 24th and Camelback
      11335 122Nd Way, Kirkland, WA 98034
      View Details
    • $2.00 SF/Yr
      57,900 SF

      Kirkland Office Space For Lease

      Office space available for lease in Kirkland, Washington.
      11251 120Th Ave NE, Kirkland, WA 98005
      View Details
    • $28 SF/Yr
      1,909 SF

      Kirkland Office Space For Lease

      Office space available in Kirkland, WA, starting February 2026.
      1201-1211 Market St, Kirkland, WA 98033
      View Details
    • $29 SF/Yr
      2,323 SF

      Kirkland Office Space Available

      Office space for lease with private entrance and parking.
      12015 115Th Ave 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
    • $30 SF/Yr
      11,995 SF

      Kirkland Office Space For Lease

      Second floor office suite near downtown Kirkland with covered parking.
      1029 Market St, 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.
      10210 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

      Kirkland Net-Zero Carbon Office

      Multi-tenant office building in Kirkland, first net-zero carbon operations.
      11335 NE 122Nd Way, Kirkland, WA 98034
      View Details
    • $2,522 /Mo
      1,187 SF

      Retail Space in Kirkland Center

      Retail property with diverse stores, ample parking, and high visibility.
      10702 68Th 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

    FAQs

    What type of property is this?
    Office units - Office space available for lease in Kirkland, Washington.
    Where is this office units located?
    The property is located at 11232 120Th Ave NE Kirkland, WA.
    What is the lease rate?
    The lease rate is $26 SF/Yr.
    What are key features of this property?
    This property features: - Leasing opportunity for office space in an established commercial building.; - Located in Kirkland, Washington.; - Year Built: 1975
    Request Owner's contact information
    11232 120Th Ave NE 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.
    11232 120Th Ave NE
    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
    11232 120Th Ave NE 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 Kraft
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!