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    11613 124th NE Ave Kirkland, WA 98034-8106
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    Property profile & analytics

    11613 124th NE Ave, Kirkland, WA 98034-8106

    View on Map
    • Retail space
    • 18,496 SF
    • 0.78 lot acres
    Off-Market
    Last Sale Jun 22, 2022
    Property ID
    US90-0937113
    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
    $2,870,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Nick's Grill / Restaurant
    • Subway / Take-out & Catering / Catering Service
    • KAMI TERIYAKI + O MY CHICKEN / Restaurant
    • Boxes & Packaging Inc. / Big Box & Wholesale Store
    • Citibank ATM / Atm

    Property Details for 11613 124th NE Ave

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.78 lot acres
    Zone code
    TL 5
    Property type
    Retail space
    APN
    282605-9169
    APU
    2826059169

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 26, 2022 — City Of Kirkland Sang M Kim Re-recorded Document · related —
    Jun 22, 2022 — City Of Kirkland Sang M Kim Warranty Deed —
    Mar 31, 2022 — Sang Mok Kim — Deed · related $2.3M · Unibank
    Mar 31, 2015 $4,350,000 Sang M Kim Alayar Dabestani Warranty Deed $2.6M · Mufg Union Bank NA
    Apr 14, 2006 $3,300,000 Alayar Dabestani Totem Investments LLC Warranty Deed $2.4M · Sterling Savings Bank
    May 10, 2002 $1,801,000 Totem Investments LLC Totem Retail Center Associates Grant Deed · related —
    — — Alayar Dabestani — Deed Of Trust · related $562k · Coastal Community Bank
    — — Totem Investments LLC — Deed Of Trust · related $1.8M · Kitsap Bank
    — — Alayar Dabestani — Deed Of Trust · related $500k · North County Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Kirkland
    County
    King
    State
    Washington
    Longitude
    -122.176
    Latitude
    47.7045
    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
    $35,769
    $1,148,200
    $3,239,000
    $4,387,200
    -
    $1,148,200
    $3,239,000
    $4,387,200

    Comparable in this City

    • Value Estimation
      $2,425,000
      12,432 SF

      12510 120th NE Ave

      RETAIL STORES (PERSONAL SERVICES)
      12510 120th NE Ave, Kirkland, WA 98034-7501
      View Details
    • Value Estimation
      $1,165,000
      5,700 SF

      13718 100th NE Ave

      RETAIL STORES (PERSONAL SERVICES)
      13718 100th NE Ave, Kirkland, WA 98034-5216
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    • Value Estimation by Request
      986 SF

      9805 116th St

      RETAIL STORES (PERSONAL SERVICES)
      9805 116th St, Kirkland, WA 98034-4248
      View Details
    • Value Estimation
      $605,000
      2,688 SF

      11852 98th NE Ave

      RETAIL STORES (PERSONAL SERVICES)
      11852 98th NE Ave, Kirkland, WA 98034-4214
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    • Value Estimation by Request
      12,336 SF

      12421 Totem Lk NE Blvd

      RETAIL STORES (PERSONAL SERVICES)
      12421 Totem Lk NE Blvd, Kirkland, WA 98034-7504
      View Details
    • Value Estimation
      $1,340,000
      6,000 SF

      11220 124th St

      RETAIL STORES (PERSONAL SERVICES)
      11220 124th St, Kirkland, WA 98034-4301
      View Details

    Similar Nearby for Sale

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      Established Nail Salon Business

      Profitable nail salon business for sale in Kirkland.
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      Established Nail Salon in Kirkland

      Profitable, turnkey nail salon business with loyal customer base.
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      Kirkland Development-Ready Land Opportunity

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      Development-Ready Lots in Kirkland

      Four lots ideal for DADUs, cottage housing, or SFRs.
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      Pending

      Kirkland Commercially Zoned Investment Property

      Commercially zoned property in Kirkland with income and development potential.
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      Development-Ready Lots in Kirkland

      Four lots suitable for DADUs, cottage housing, or SFRs.
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    Similar Nearby for Lease

    • Contact for pricing
      2,461 SF

      Kirkland Retail Space For Rent

      Retail space available in Kirkland, Washington.
      11727-11747 124Th Ave NE, Kirkland, WA 98034
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    • Contact for pricing
      1,542 SF

      Kirkland Retail Space Available

      1,400 SF retail space with open layout and parking.
      11961 124Th Ave NE, Kirkland, WA 98034
      View Details
    • Contact for pricing
      4,591 SF

      Retail Space in Totem Lake

      Ground-floor retail space in high-traffic Totem Lake location.
      12333-12337 120Th Ave NE, Kirkland, WA 98034
      View Details
    • Contact for pricing
      15,547 SF

      Kirkland Retail Space Available

      Retail spaces available in Kirkland, WA, ranging from 6,624-15,547 SF.
      12430 NE 120Th St, Kirkland, WA 98034
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    • Contact for pricing
      12,768 SF

      Kirkland Retail Space Available

      Retail space available for lease in Kirkland, Washington.
      12700 Northeast 124Th St, Kirkland, WA 98034
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    • Contact for pricing
      1,122 SF

      Kirkland Retail Space Available

      Retail space available for rent in Kirkland, Washington.
      14130 Juanita Dr NE, Kirkland, WA 98034
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    Property Visit Statistics

    • Visits by month
      26.6k
    • Visitors by month
      18.9k
    • Avg Time on site
      12 min
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    Kirkland, WA 98034-8106
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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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