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Property profile & analytics
FOR LEASE
Office buildings
1003 7Th Ave Kirkland, WA 98033
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-2972193
No photos on file
For Lease
$2,600,000
1003 7Th Ave, Kirkland, WA 98033
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1981
Construction
FRAME
Total area
5,950 SF
Lot
0.3 ac (13,200 SF)
Zoning code
LIT
APN
388690-1150
UPID
US90-2972193
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Connections Behavior Planning and Intervention, LLC, Kirkland Special Education Facility
-
Hope Pellenbarg Physician Medical Clinic
-
Jaimee Oberlin Physician Medical Clinic
-
Rachel Starrin Physician Medical Clinic
-
Catherine Davidson Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.60M
CAP Approach
CAP
$2.06M
Comparable Approach
Comparable
$1.85M
Blend (final)
Blend
$2.60M
Owner & transaction history
One Square LLC · 2 yrs held
One Square LLC
since 2024
Last sale
$2.6M
3 recorded transactions
Zoning & alternative use
LIT · Kirkland, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Kirkland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kirkland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,600,000
ML approach
$2,600,000
CAP Approach
CAP Return
Estimation
6%
$2,230,000
6.5%
$2,060,000
7%
$1,910,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,310,000
Current use
RESTAURANT
$3,155,000
Change: -5% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,035,000
Change: -8% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,730,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$2.60M
Range $2.34M – $2.86M · ±10% · vs last sale $2.60M (Mar 19 2024)
Last sale anchor
$2.60M
Mar 19 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$437 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$13,195
Tax year 2024
Assessed value
$1,101,100
Assessed 2023
Previous assessed
$1,101,100
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$462,000
Assessed improvement
$639,100
Land market value
$462,000
Improvement market value
$639,100
Total market value
$1,101,100
Applied tax rate
1,701.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1981
Construction
FRAME
Heating
SPACE
Stories
2
Total area
5,950 SF
Lot
0.3 ac (13,200 SF)
Zoning code
LIT
APN
388690-1150
UPID
US90-2972193
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LIT · Kirkland, WA
Zoning LIT · permitted uses
LIT · Kirkland, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Kirkland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.3M
RESTAURANT
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.7M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Construction
FRAME
Heating
SPACE
Stories
2
Lot
0.3 ac
Current owner
From public records · entity-resolved
One Square LLC
Entity
Free & Clear · 2 yrs held
Mailing address
SESE 61ST PI, BELLEVUE, WA 98006
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 19, 2024
$2,600,000
One Square LLC
J T Sheff Enterprises LLC
Warranty Deed
—
Dec 29, 2000
—
J T Sheff Enterprises LLC
Sheff Enterprises Ltd
Quit Claim Deed
related
—
Jul 8, 1988
—
Sheff Enterprises Ltd
Sammons,maureen
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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