Entity Owned 
For Lease
Contact for pricing
11961 124Th Ave NE, Kirkland, WA 98034
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Property summary
AI-generated overview
This property comprises a 1,400-square-foot retail space located in building 3 at 12049. The space was previously used as a jewelry store and is configured with a wide open layout, one bathroom, and an additional storage area. Building signage is available, and the property includes on-site parking.
Property profile
Verified
Property type
Other industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,000 SF
Lot
9.29 ac (404,786 SF)
Zoning code
TL 5
APN
282605-9086
UPID
US90-1671846
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Training Center
-
Training Center
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$850k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$928k
Blend (final)
Blend
$1.21M
Owner & transaction history
since 1997
2 recorded transactions
Zoning & alternative use
TL 5 · Kirkland, WA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 4 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$1.21M
Value range
$1.09M – $1.33M
±10% around blend
Estimated value / SF
$101 / SF
Confidence
Low
4 county-verified comps
Property data
100
Market benchmarks
33
Comparable evidence
40
Income certainty
100
$1.09M
blend $1.21M
$1.33M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
12,000 SF
Lot area
9.29 ac
Year built
1980
Stories
1
APN
282605-9086
Zoning
TL 5
Assessed value
$22,788,600
Annual tax
$206,843
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$206,843
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$689k
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
9.3 mi away · 13,913 SF
14.6 mi away · 9,540 SF
15.0 mi away · 14,770 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.21M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 166 sales
$381
-74%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $101/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$358k
Move the market yield to see immediate price impact.
Value / SF
$30
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$23k
$451k
$322k
$250k
$25k
$501k
$358k
$278k
$28k
$551k
$394k
$306k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$470k
5.1 mi · Feb 2026 · $42/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$206,843
Tax year 2022
Assessed value
$22,788,600
Assessed 2022
Previous assessed
$22,788,600
+0.0% YoY
Effective rate
0.91%
On assessed value
Assessed land
$13,357,900
Assessed improvement
$9,430,700
Land market value
$13,357,900
Improvement market value
$9,430,700
Total market value
$22,788,600
Applied tax rate
1,701.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
For Lease
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
8
Stories
1
Total area
12,000 SF
Lot
9.29 ac (404,786 SF)
Zoning code
TL 5
APN
282605-9086
UPID
US90-1671846
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TL 5 · Kirkland, WAZoning TL 5 · permitted uses
TL 5 · Kirkland, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
8
Lot
9.29 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
TL 5
Jurisdiction
Kirkland, WA
Recorded code
TL 5
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for TL 5 in Kirkland, WA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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