Back to Search
Property profile & analytics
FOR LEASE
Office buildings
12025 115Th Ave NE Kirkland, WA 98034
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0805005
No photos on file
For Lease
$7,091/Mo
12025 115Th Ave NE, Kirkland, WA 98034
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
22,944 SF
Lot
1.16 ac (50,625 SF)
Zoning code
TL 10A
APN
389060-0050
UPID
US90-0805005
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
-
Adam Johns Therapy Marriage Or Relationship Counselor Family Counselor
-
Jared Kilmer Physician Medical Clinic
-
TALK SPACE COUNSELING Medical Clinic
-
Terra Holloway Physician
-
Chanin Hanson Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.56M
CAP Approach
CAP
$7.94M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.39M
Owner & transaction history
Four Peaks Investments INC · 4 yrs held
Four Peaks Investments INC
since 2021
Last sale
$9.4M
7 recorded transactions
Zoning & alternative use
TL 10A · 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
$7,585,000
ML approach
$7,560,000
CAP Approach
CAP Return
Estimation
6%
$8,600,000
6.5%
$7,940,000
7%
$7,375,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$12,645,000
Current use
RESTAURANT
$12,170,000
Change: -4% · Conversion: Moderate
COMMERCIAL (GENERAL)
$11,695,000
Change: -8% · Conversion: Easy
AUTO REPAIR, GARAGE
$10,535,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$8.39M
Range $7.55M – $9.22M · ±10% · vs last sale $9.43M (Dec 6 2021)
Last sale anchor
$9.43M
Dec 6 2021
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
$365 / 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
$63,645
Tax year 2022
Assessed value
$8,053,300
Assessed 2022
Previous assessed
$8,053,300
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$1,518,700
Assessed improvement
$6,534,600
Land market value
$1,518,700
Improvement market value
$6,534,600
Total market value
$8,053,300
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
For Lease
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
OTHER
Stories
2
Total area
22,944 SF
Lot
1.16 ac (50,625 SF)
Zoning code
TL 10A
APN
389060-0050
UPID
US90-0805005
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TL 10A · Kirkland, WA
Zoning TL 10A · permitted uses
TL 10A · 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
$12.6M
RESTAURANT
Est. value
$12.2M
COMMERCIAL (GENERAL)
Est. value
$11.7M
AUTO REPAIR, GARAGE
Est. value
$10.5M
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
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
2
Lot
1.16 ac
Current owner
From public records · entity-resolved
Four Peaks Investments INC
Entity
Mailing address
801 SW 16TH ST STE #200, RENTON, WA 98057-2628
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2021
$9,425,000
Four Peaks Investments INC
Lakha Properties Kirkland LLC
Bargain And Sale Deed
$8,011,250 · First Citizens Bank & Trust Co
Mar 29, 2007
$5,300,000
Lakha Properties-kirkland LLC
G & I IV Kirkland LLC
Grant Deed
—
May 24, 2006
$34,848,500
G & I IV Kirkland LLC
Newtower Trust Co Multi-employ
Grant Deed
$27,000,000 · Lasalle National Bank
—
—
Lakha Properties-kirkland LLC
—
Deed Of Trust
related
$4,650,000 · Us Bank NA
—
—
Lakha Properties-kirkland LLC
—
Deed Of Trust
related
$3,709,000 · Aviddia Capital LLC
—
—
Lakha Properties-kirkland LLC
—
Deed Of Trust
related
$4,200,000 · Mark One Capital INC
—
—
Lakha Properties-kirkland LLC
—
Deed Of Trust
related
$4,800,000 · Foundation Bank
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?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
