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

    12340 NE 115th Pl Kirkland, WA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    High-visibility retail/office space in Kirkland's Totem Lake neighborhood.

    Type:RETAIL
    Property size:
    2,386 SF
    Lot size:
    1.99 Acres
    Added:
    Aug 21, 2025
    Days on Market:
    255
    Last Refresh:
    Apr 5 at 8:17 pm

    Property Features for 12340 NE 115th Pl

    General Information

    Standard status
    Active
    Size
    2,386 SF
    Lot size
    1.99 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 12340 NE 115th Pl Contact us

    We can help!

    Listing Contact
    Laura Miller

    Listing agent Laura Miller

    Listing office Gibraltar, LLC

    Listing date Aug 21, 2025

    Source Moodyscre

    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 Gibraltar, LLC

    Overview

    Kirkland Retail/Office Space Available

    This 2,386-square-foot space is available for lease in Kirkland’s Totem Lake neighborhood. Located on the ground level of Slater 116, an upscale apartment community with 108 residential units, the modern space is light-filled and highly visible. It is situated between the building's outdoor plaza and the customer/residential parking garage, which offers shared customer parking. The space features large storefront windows on three sides, an ensuite ADA restroom, a kitchenette, and polished concrete floors. It offers convenient access to I-405. The property is ideal for office or merchandise retail. Current tenants include Waxing the City, The Art of Coffee, Covertti, and Melody Music. Please note that fitness, restaurant, or medical office/spa uses are not allowed.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Backyard Home Oasis Building Supply KIV Cargo LLC Logistics Company Slater 116 Apartments Apartment Complex

    Suggested Use

    Law Firm Restaurant Real Estate Agency 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
    -122.176
    Latitude
    47.7032

    Nearby Similar for Lease

    • Contact for pricing

      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
    • Sponsored
      Contact for pricing

      WA, Kirkland - Corporate Center

      11335 122Nd Way, Unit 105, Kirkland, WA 98034
      View Details
    • Contact for pricing

      Prime Downtown Kirkland Retail Space

      Highly visible retail space in Kirkland's vibrant downtown area.
      116 - 122 Central Way, Kirkland, WA 98033
      View Details
    • Contact for pricing

      Downtown Kirkland Retail Space Available

      High-visibility retail space in downtown Kirkland with excellent foot traffic.
      108 Central Way, Kirkland, WA 98033
      View Details
    • $5,218/Mo

      Kirkland Office Building with Views

      Prominent office building with views and convenient access.
      11250 Kirkland Way, Kirkland, WA 98033
      View Details
    • $30 SF/Yr

      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
    • Contact for pricing

      Prime Downtown Kirkland Retail Space

      Highly visible retail space in Kirkland's vibrant downtown area.
      116 - 122 Central Way, Kirkland, WA 98033
      View Details
    • $5,965/Mo

      Kirkland Retail/Office Space Available

      High-visibility retail/office space in Kirkland's Totem Lake neighborhood.
      12340 115th Pl, Kirkland, WA 98033
      View Details
    • $3,000/Mo

      Kirkland Retail/Office Space Available

      Retail/office space with high visibility and foot traffic.
      106 Central Way, Kirkland, WA 98033
      View Details
    • $45 SF/Yr

      Kirkland Office Building For Rent

      Four-story office building in downtown Kirkland, built in 1995.
      520 Kirkland Way, Kirkland, WA, 98033
      View Details
    • $9,198/Mo

      Kirkland Office Space for Lease

      Upgraded office building with tenant amenities and ample parking.
      12220 113th Ave NE, Kirkland, WA 98034
      View Details
    • $9,642/Mo

      Kirkland Office Space Available

      Professional office space in Kirkland with private suites and amenities.
      116 Central Way, Kirkland, WA 98033
      View Details

    FAQs

    What type of property is this?
    Retail space - High-visibility retail/office space in Kirkland's Totem Lake neighborhood.
    Where is this retail space located?
    The property is located at 12340 NE 115th Pl Kirkland, WA.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: High‑visibility location in Kirkland's Totem Lake neighborhood.; Located on the ground floor of Slater 116, an upscale apartment community with 108 units.; Large storefront windows on 3 sides providing ample natural light.
    (206) 351-3573 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Laura Miller
    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

    Thank You for Inquiry

    12340 NE 115th Pl, Kirkland, WA

    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!