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    11727 124th NE Ave Kirkland, WA 98034-8108
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    Property profile & analytics

    11727 124th NE Ave, Kirkland, WA 98034-8108

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    • Retail space
    • 8,400 SF
    • 2.17 lot acres
    Off-Market
    Last Sale Jun 6, 2022
    Property ID
    US90-1197839
    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
    $2,315,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • AA Auto Service Center Kirkland / Auto Repair Shop
    • Kirkland Office / Law Firm
    • Kirkland Group / Law Firm
    • Nixon Office / Law Firm

    Property Details for 11727 124th NE Ave

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.17 lot acres
    Zone code
    TL 5
    Property type
    Retail space
    APN
    282605-9179
    APU
    2826059179

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 23, 2026 — Wwx Limited LLC — Deed · related $7.9M · East West Bank
    Jul 18, 2022 — City Of Kirkland Wwx Limited LLC Re-recorded Document · related —
    Jun 6, 2022 — City Of Kirkland Wwx Limited LLC Warranty Deed —
    Apr 22, 2021 — Wwx Limited LLC — Deed · related $5.5M · Cathay Bank
    Dec 19, 2016 $11,000,000 Wwx Limited LLC Barry J Nabozny Warranty Deed $4.5M · Cathay Bank
    Dec 7, 2016 — Nabozny Trust Nabozny,arie & Ida Quit Claim Deed · related —
    Aug 7, 2014 — Jack Berg LLC Berg Jack & Eleanor Trust Quit Claim Deed · related —
    Jun 30, 2009 — Hemmat Family LLC Hemmat Living Trust Quit Claim Deed · related —
    Jan 25, 2000 — Schwartz Trust Schwartz,eugene & Barbara A Quit Claim Deed · related —
    Jun 30, 1999 $3,304,000 Arie Nabozny Dghk LLC Grant Deed $2.5M · Key Bank NA
    Dec 17, 1996 — Dghk LLC Gregory,ronald D & Christine M Grant Deed · related —
    — — Dghk LLC — Deed Of Trust · related $2.4M · First Mutual Savings Bank
    — — Dghk Ll — Deed Of Trust · related $180k · Key Bank NA
    — — Arie Nabozny — Deed Of Trust · related $3.8M · Foundation Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,505,000
      6.5%
      $2,310,000
      7%
      $2,145,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,295,000
      Current use
      AUTO REPAIR, GARAGE
      $3,855,000
      Change: +17% Conversion: Difficult
      MEDICAL BUILDING
      $3,320,000
      Change: +1% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $3,205,000
      Change: -3% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,910,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Kirkland
    County
    King
    State
    Washington
    Longitude
    -122.177
    Latitude
    47.7052
    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
    $63,594
    $3,122,600
    $4,589,000
    $7,711,600
    -
    $3,122,600
    $4,589,000
    $7,711,600

    Comparable in this City

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      14,392 SF

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      RETAIL STORES (PERSONAL SERVICES)
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      View Details
    • Value Estimation
      $2,355,000
      12,000 SF

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      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation
      $2,500,000
      13,860 SF

      13501 100th NE Ave

      RETAIL STORES (PERSONAL SERVICES)
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      View Details
    • Value Estimation
      $2,165,000
      12,000 SF

      13520 100th NE Ave

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation
      $3,655,000
      9,160 SF

      14330 143rd NE Ave

      RETAIL STORES (PERSONAL SERVICES)
      14330 143rd NE Ave, Kirkland, WA 98034
      View Details
    • Value Estimation
      $525,000
      2,800 SF

      14300 124th NE Ave

      RETAIL STORES (PERSONAL SERVICES)
      14300 124th NE Ave, Kirkland, WA 98034-1414
      View Details

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      Kirkland Development-Ready Land Opportunity

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      Kirkland Sports Bar Opportunity

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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
      View Details
    • 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
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      4,591 SF

      Retail Space in Totem Lake

      Ground-floor retail space in high-traffic Totem Lake location.
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      15,547 SF

      Kirkland Retail Space Available

      Retail spaces available in Kirkland, WA, ranging from 6,624-15,547 SF.
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      12,768 SF

      Kirkland Retail Space Available

      Retail space available for lease in Kirkland, Washington.
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      Kirkland Retail Space Available

      Retail space available for rent in Kirkland, Washington.
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    Kirkland, WA 98034-8108
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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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