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Property profile & analytics
OFF-MARKET
Estimated value
$5,320,000
Warehouses
11306 124th St, Kirkland, WA 98034-4303
Individually Owned
23-yr Hold
Free & Clear
Property ID
US90-0952118
Property summary
AI-generated overview
This exceptional retail space, located at 11306 NE 124th St in Kirkland, Washington, presents a unique leasing opportunity. The property, situated in King County (zip code 98034), offers a total of 5,390 square feet, currently entirely vacant and available for lease. Previously occupied by a GNC store, this inline retail space is ideal for a variety of businesses seeking high visibility and convenient access. The building's size allows for significant flexibility in layout and design, catering to diverse operational needs. The property's location in Kirkland offers excellent access to major transportation routes and a thriving local community. With a total of 5,390 square feet of vacant space, this property is ready for immediate occupancy. The space is categorized as a single, multi-tenant retail unit. This presents a rare chance to establish a prominent presence in a desirable Kirkland location. The property is ready for immediate occupancy and offers a blank canvas for a new business to thrive. Interested parties are encouraged to inquire further to explore the possibilities this exceptional retail space offers.
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1989
Construction
WOOD
Total area
27,349 SF
Lot
0.82 ac (35,700 SF)
Zoning code
TL 6B
APN
292605-9149
UPID
US90-0952118
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.24M
Blend (final)
Blend
$5.32M
Owner & transaction history
Lake West Self Storage L Totem · 23 yrs held
Lake West Self Storage L Totem
since 2003
1 recorded transaction
Zoning & alternative use
TL 6B · 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$7,845,000
Current use
Blend value · Realmo final
$5.32M
Range $4.79M – $5.85M · ±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
$195 / 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
$51,494
Tax year 2022
Assessed value
$6,534,900
Assessed 2022
Previous assessed
$6,534,900
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$1,320,900
Assessed improvement
$5,214,000
Land market value
$1,320,900
Improvement market value
$5,214,000
Total market value
$6,534,900
Applied tax rate
1,806.0000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1989
Construction
WOOD
Heating
FORCED AIR
Stories
2
Total area
27,349 SF
Lot
0.82 ac (35,700 SF)
Zoning code
TL 6B
APN
292605-9149
UPID
US90-0952118
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TL 6B · Kirkland, WA
Zoning TL 6B · permitted uses
TL 6B · 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
$7.8M
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
1989
Construction
WOOD
Heating
FORCED AIR
Stories
2
Lot
0.82 ac
Current owner
From public records · entity-resolved
Lake West Self Storage L Totem
Individual
Free & Clear · 23 yrs held
Mailing address
PO BOX 40598, BELLEVUE, WA 98015-4598
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 12, 2003
—
Lake West Self Storage L Totem
Totem Lake West Mini Storage A
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.
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