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Property profile & analytics
FOR LEASE
Warehouses
11155 120Th Ave NE, Kirkland, WA 98033
Entity Owned
Free & Clear
Property ID
US90-1678102
For Lease
$4,575,000
11155 120Th Ave NE, Kirkland, WA 98033
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
26,404 SF
Lot
2.11 ac (92,105 SF)
Zoning code
TL 10E
APN
389310-0930
UPID
US90-1678102
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
-
Seattle Sun Tan Corporate Office Tanning Salon
-
Inspired Closets Seattle General Contractor Renovation Specialist
-
AER Engineers Inc Engineer
-
Bmwc Constructors Inc. Business Service Center Corporate Office
-
Sparksy Design Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.96M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.58M
Owner & transaction history
Parmac Investment LLC
Parmac Investment LLC
since 2025
7 recorded transactions
Zoning & alternative use
TL 10E · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,375,000
6.5%
$4,960,000
7%
$4,605,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$7,575,000
Current use
Blend value · Realmo final
$4.58M
Range $4.12M – $5.03M · ±10%
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
$173 / 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
$94,626
Tax year 2022
Assessed value
$11,576,300
Assessed 2022
Previous assessed
$11,576,300
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$2,394,700
Assessed improvement
$9,181,600
Land market value
$2,394,700
Improvement market value
$9,181,600
Total market value
$11,576,300
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
26,404 SF
Lot
2.11 ac (92,105 SF)
Zoning code
TL 10E
APN
389310-0930
UPID
US90-1678102
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
WAREHOUSE, STORAGE Current
Est. value
$7.6M
WAREHOUSE, STORAGE Current
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
FORCED AIR
Stories
1
Buildings
2
Lot
2.11 ac
Current owner
From public records · entity-resolved
Parmac Investment LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1421 34TH AVE STE #300, SEATTLE, WA 98122-3634
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 23, 2025
—
Parmac Investment LLC
—
Deed
related
$12,000,000 · Symetra Life Insurance Co
Oct 17, 2025
—
Parmac Investment LLC
Mrm Everett LLC
Quitclaim Deed
related
—
Jan 24, 2018
—
Mrm Everett LLC
—
Deed
related
$4,100,000 · Miscellaneous Ins Co
Aug 20, 2014
$4,300,000
Mrm Everett LLC
Lhv Properties LLC
Warranty Deed
$4,000,000 · Banner Bank
Mar 29, 2012
$7,006,700
Lhv Properties LLC
Vander Hoek Corp
Quit Claim Deed
related
$3,300,000 · Ameriprise Certificate Co
Nov 29, 2011
$15,000
Cai V Tran
Springleaf Finl Svcs INC
Grant Deed
—
Nov 9, 1990
$3,100,000
Vander Hoek Corporation
Parmac 100 Assoc
Grant Deed
$248,000 · Company Misc
—
—
Vander Hoek Corp
—
Deed Of Trust
related
$1,100,000 · National Mortgage Co
—
—
Mrm Everett LLC
—
Deed Of Trust
related
$4,100,000 · Miscellaneous Ins Co
—
—
Vander Hoek Corp
—
Deed Of Trust
related
$3,300,000 · American Express Cergificate
—
—
Vander Hoek Corp
—
Deed Of Trust
related
$1,750,000 · Standard Insurance Co
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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