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Property profile & analytics
FOR LEASE
Retail space
116 Central Way Kirkland, WA 98033
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-1302122
No photos on file
For Lease
$8,344/Mo
116 Central Way, Kirkland, WA 98033
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1922
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,250 SF
Lot
0.21 ac (9,354 SF)
Zoning code
CBD 8
APN
388580-8670
UPID
US90-1302122
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
-
Coastline Burgers Kirkland Restaurant
-
Forge Pizza Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.55M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.94M
Owner & transaction history
William Cheney Bryant Building LLC · 9 yrs held
William Cheney Bryant Building LLC
since 2016
5 recorded transactions
Zoning & alternative use
CBD 8 · 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%
$2,760,000
6.5%
$2,545,000
7%
$2,365,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,205,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.94M
Range $1.74M – $2.13M · ±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
$209 / 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
$31,250
Tax year 2022
Assessed value
$4,100,200
Assessed 2022
Previous assessed
$4,100,200
+0.0% YoY
Effective rate
0.76%
On assessed value
Assessed land
$1,636,900
Assessed improvement
$2,463,300
Land market value
$1,636,900
Improvement market value
$2,463,300
Total market value
$4,100,200
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1922
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
9,250 SF
Lot
0.21 ac (9,354 SF)
Zoning code
CBD 8
APN
388580-8670
UPID
US90-1302122
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CBD 8 · Kirkland, WA
Zoning CBD 8 · permitted uses
CBD 8 · 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
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS)
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
1922
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
William Cheney Bryant Building LLC
Entity
Mailing address
435 NW 13TH ST, CORVALLIS, OR 97330-5946
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 19, 2022
—
William Cheney Bryant Building LLC
—
Deed
related
$535,000 · Columbia State Bank
Dec 30, 2021
—
Wiiliam Cheney Bryant Building LLC
—
Deed
related
$520,000 · Rebecca G Williams
Sep 30, 2016
—
William Cheney Bryant Building LLC
Imogene Bryant Williams
Intrafamily Transfer
related
$510,000 · Umpqua Bank
May 16, 2016
—
Imogene B Williams
—
Deed
related
$1,725,000 · Umpqua Bank
—
—
Imogene B Williams
—
Deed Of Trust
related
$228,897 · Ruth A Williams
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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