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    11306 124th St Kirkland, WA 98034-4303
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    Property profile & analytics

    11306 124th St Kirkland, WA 98034-4303

    View on Map
    • Warehouses
    • 27,349 SF
    • 0.82 lot acres
    Off-Market
    Property ID
    US90-0952118
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $5,320,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 11306 124th St

    Year built
    1989
    Construction
    WOOD
    Lot size
    0.82 lot acres
    Property size
    27,349 SF
    Zone code
    TL 6B
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    292605-9149
    APU
    2926059149

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,235,000
      Market price range: $490k - $12.3M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $7,845,000
      Current use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kirkland
    County
    King
    State
    Washington
    Longitude
    -122.19
    Latitude
    47.7115
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $51,494
    $1,320,900
    $5,214,000
    $6,534,900
    -
    $1,320,900
    $5,214,000
    $6,534,900

    Comparable in this City

    • Value Estimation
      $2,970,000
      8,000 SF

      12425 124th St

      MINI-WAREHOUSE, STORAGE • 8,000 SF
      12425 124th St, Kirkland, WA 98034-4072
      View Details
    • Value Estimation
      $12,995,000
      90,975 SF

      12707 141st NE Ave

      MINI-WAREHOUSE, STORAGE • 90,975 SF
      12707 141st NE Ave, Kirkland, WA 98034-8767
      View Details
    • Value Estimation
      $11,580,000
      88,400 SF

      11910 116th St

      MINI-WAREHOUSE, STORAGE • 88,400 SF
      11910 116th St, Kirkland, WA 98034-7106
      View Details
    • Value Estimation
      $11,705,000
      76,868 SF

      12249 124th St

      MINI-WAREHOUSE, STORAGE • 76,868 SF
      12249 124th St, Kirkland, WA 98034-8214
      View Details
    • Value Estimation
      $8,025,000
      21,600 SF

      11330 124th St

      MINI-WAREHOUSE, STORAGE • 21,600 SF
      11330 124th St, Kirkland, WA 98034-4303
      View Details
    • Value Estimation
      $4,110,000
      11,060 SF

      12249 124th St

      MINI-WAREHOUSE, STORAGE • 11,060 SF
      12249 124th St, Kirkland, WA 98034-8214
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Development-Ready Lots in Kirkland

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      Kirkland Sports Bar Opportunity

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    Similar Nearby for Lease

    • $13,688 /Mo
      9,125 SF

      Warehouse Space with Office

      9,125 SF warehouse space with office for lease.
      13536 126Th Pl, Kirkland, WA 98034
      View Details
    • Contact for pricing
      9,125 SF

      Kirkland Warehouse with Office Space

      9,125 SF warehouse with 1,558 SF office space.
      13536-13600 NE 126Th Pl, Kirkland, WA 98034
      View Details
    • $7,302 /Mo
      6,350 SF

      Kirkland Warehouse Space for Rent

      6,350 SF warehouse space with open layout and roll-up doors.
      11961 124Th Ave NE, Kirkland, WA 98034
      View Details
    • Contact for pricing
      2,400 SF

      Kirkland Warehouse Space Available

      Industrial warehouse space available for rent in Kirkland, Washington.
      12522-12932 128Th Ln NE, Kirkland, WA 98034
      View Details
    • Contact for pricing

      Kirkland Warehouse with Office Space

      9,125 SF warehouse with office space available for lease.
      13536 NE 126Th Pl, Kirkland, WA 98034
      View Details
    • Contact for pricing

      Kirkland Flex/Industrial Space Available

      Flex/Industrial space for rent in Kirkland, Washington.
      13625 Northeast 126Th Pl, Kirkland, WA 98034
      View Details
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    Kirkland, WA 98034-4303
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    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
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