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Property profile & analytics
OFF-MARKET
Estimated value
$4,860,000
Office buildings
12006 98th NE Ave Kirkland, WA 98034-4218
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1556604
Property summary
AI-generated overview
This exceptional office building, located in the heart of Downtown Juanita at 12006 98th Ave NE, Kirkland, WA 98034, offers three available suites ranging from 1,292 to 2,800 square feet. The property, built in 1985 and renovated in 1995, boasts a total of 12,145 square feet on a 0.73-acre lot. The building features ample parking with 54 spaces available for tenants and their clients. Each suite offers convenient grade-level access, eliminating the need for stairs or elevators. The building is zoned JBD 2, and its APN is 302605-9153. Currently, common area upgrades are underway, enhancing the overall aesthetic and functionality of the building. Comcast service is available, and the landlord is open to considering short-term lease options. This presents a unique opportunity for businesses seeking flexible and conveniently located office space in a thriving Kirkland neighborhood. The multiple tenancy structure allows for a diverse range of businesses to coexist within the building. This property is ideal for companies seeking a well-maintained, updated office space in a desirable location.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
WOOD
Total area
13,229 SF
Lot
0.73 ac (31,799 SF)
Zoning code
JBD 2
APN
302605-9153
UPID
US90-1556604
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
-
Teresa Noel Physician
-
Insurance NW Insurance Agency
-
TRUEcare Integrative Medicine Medical Clinic
-
BidACar Car Dealership
-
Jason Landry Alternative Medicine Practice Acupuncture
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.65M
CAP Approach
CAP
$4.58M
Comparable Approach
Comparable
$6.18M
Blend (final)
Blend
$4.86M
Owner & transaction history
Northwest Business Development Assn · 2 yrs held
Northwest Business Development Assn
since 2023
Last sale
$5.2M
3 recorded transactions
Zoning & alternative use
JBD 2 · 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
$4,780,000
ML approach
$4,650,000
CAP Approach
CAP Return
Estimation
6%
$4,960,000
6.5%
$4,580,000
7%
$4,250,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,290,000
Current use
RESTAURANT
$7,020,000
Change: -4% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,745,000
Change: -8% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,075,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$4.86M
Range $4.37M – $5.35M · ±10% · vs last sale $5.15M (Nov 1 2023)
Last sale anchor
$5.15M
Nov 1 2023
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
$367 / 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
$24,525
Tax year 2022
Assessed value
$2,999,000
Assessed 2022
Previous assessed
$2,999,000
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$1,717,100
Assessed improvement
$1,281,900
Land market value
$1,717,100
Improvement market value
$1,281,900
Total market value
$2,999,000
Applied tax rate
1,806.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1985
Construction
WOOD
Heating
FORCED AIR
Stories
2
Total area
13,229 SF
Lot
0.73 ac (31,799 SF)
Zoning code
JBD 2
APN
302605-9153
UPID
US90-1556604
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
JBD 2 · Kirkland, WA
Zoning JBD 2 · permitted uses
JBD 2 · 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
OFFICE BUILDING Current
Est. value
$7.3M
RESTAURANT
Est. value
$7.0M
COMMERCIAL (GENERAL)
Est. value
$6.7M
AUTO REPAIR, GARAGE
Est. value
$6.1M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1985
Construction
WOOD
Heating
FORCED AIR
Stories
2
Lot
0.73 ac
Current owner
From public records · entity-resolved
Northwest Business Development Assn
Entity
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 9, 2023
—
Northwest Business Development Assn
Smileville LLC
Assignment Of Lease (leasehold Sale)
$2,140,000 · Northwest Business Development Associati
Nov 1, 2023
$5,150,000
Smileville LLC
Siwadune Enterprises INC
Bargain And Sale Deed
$2,613,640 · Harvest Commercial Capital LLC
Jul 27, 1995
$845,000
Siwadune Enterprises INC
Wingfield Waterford #84
Grant Deed
—
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.
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