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Property profile & analytics
OFF-MARKET
Estimated value
$36,440,000
Manufacturing properties
10809 120th NE Ave, Kirkland, WA 98033-5024
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1490315
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
61,714 SF
Lot
3.45 ac (150,310 SF)
Zoning code
TL 10E
APN
389310-0921
UPID
US90-1490315
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
-
Systima Technologies, Inc. Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$30.13M
Blend (final)
Blend
$36.44M
Owner & transaction history
Toll Bros INC · 4 yrs held
Toll Bros INC
since 2022
Last sale
$40.0M
7 recorded transactions
Zoning & alternative use
TL 10E · Kirkland, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$34.3M
+45.8%
Restaurant
$32.7M
+39.1%
Commercial (general)
$31.5M
+33.7%
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
$35,630,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$23,535,000
Current use
OFFICE BUILDING
$34,315,000
Change: +46% · Conversion: Difficult
RESTAURANT
$32,740,000
Change: +39% · Conversion: Difficult
COMMERCIAL (GENERAL)
$31,460,000
Change: +34% · Conversion: Difficult
AUTO REPAIR, GARAGE
$28,330,000
Change: +20% · Conversion: Easy
MEDICAL BUILDING
$24,375,000
Change: +4% · Conversion: Difficult
RETAIL STORES
$24,210,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$36.44M
Range $32.80M – $40.08M · ±10% · vs last sale $40.00M (Mar 28 2022)
Last sale anchor
$40.00M
Mar 28 2022
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
$590 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$121,869
Tax year 2022
Assessed value
$14,590,800
Assessed 2022
Previous assessed
$14,590,800
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$3,757,700
Assessed improvement
$10,833,100
Land market value
$3,757,700
Improvement market value
$10,833,100
Total market value
$14,590,800
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
OTHER
Stories
2
Total area
61,714 SF
Lot
3.45 ac (150,310 SF)
Zoning code
TL 10E
APN
389310-0921
UPID
US90-1490315
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TL 10E · Kirkland, WA
Zoning TL 10E · permitted uses
TL 10E · 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
INDUSTRIAL (GENERAL) Current
Est. value
$23.5M
OFFICE BUILDING
Est. value
$34.3M
RESTAURANT
Est. value
$32.7M
COMMERCIAL (GENERAL)
Est. value
$31.5M
AUTO REPAIR, GARAGE
Est. value
$28.3M
MEDICAL BUILDING
Est. value
$24.4M
RETAIL STORES
Est. value
$24.2M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
2
Lot
3.45 ac
Current owner
From public records · entity-resolved
Toll Bros INC
Entity
Mailing address
8815 122ND AVE NE #200, KIRKLAND, WA 98033-5828
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2022
$40,000,000
Toll Bros INC
Alco Kirkland Signature LLC
Bargain And Sale Deed
$30,000,000 · Alco Investment Company
Sep 17, 2020
$14,897,256
Amitsys Property LLC
Amitsys Property LLC
Warranty Deed
—
Dec 18, 2013
$4,200,000
Amitsys Property LLC
Pbes Enterprises L L C
Warranty Deed
$3,000,000 · First Citizens Bank & Trust Co
Feb 29, 2012
$3,900,000
Pbes Enterprises LLC
Seattle Three LLC
Bargain And Sale Deed
$1,985,000 · Us Bank NA
Sep 22, 2010
$3,500,000
Seattle Three LLC
Rainier Foreclosure Svcs
Trustees Deed
related
—
May 12, 2009
—
Wfwl Keane LLC
Seattle Metro Re Dev LLC
Grant Deed
—
Apr 3, 2009
—
Michael R Mastro
—
Deed Of Trust
related
$20,040,000 · Bancfirst
Jul 21, 2006
$12,500,000
Rainier Pacific Investment INC
Mastro,michael R
Warranty Deed
$10,000,000 · Michael R Mastro
Nov 2, 2004
$4,365,000
Michael R Mastro
Anderson,m B
Warranty Deed
—
Nov 2, 2004
—
Trinity Stonehedge LLC
Trinity Ptshp
Quit Claim Deed
related
—
Jun 8, 1992
—
Sureshot Investments Ltd
E & H Investment
Grant Deed
related
—
—
—
114th Avenue LLC
—
Deed Of Trust
related
$2,650,000 · Usg Annuity & Life Co
—
—
Michael R Mastro
—
Deed Of Trust
related
$6,000,000 · Terry Durst
—
—
Michael R Mastro
—
Deed Of Trust
related
$3,850,000 · Bancfirst
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.
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