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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12106 124th St Kirkland, WA 98034-8211

    • Turn key restaurants
    • 0.25 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-2039357
    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.

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 12106 124th St

    Lot size
    0.25 lot acres
    Zone code
    TL 4A
    Property type
    Turn key restaurants
    APN
    282605-9244
    APU
    2826059244

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Kirkland
    County
    King
    State
    Washington
    Longitude
    -122.179
    Latitude
    47.7099
    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
    $4,177
    $438,600
    $0.00
    $438,600
    -
    $438,600
    $0.00
    $438,600

    Comparable in this City

    • Value Estimation
      $2,905,000
      7,312 SF

      11431 124th St

      RESTAURANT • 7,312 SF
      11431 124th St, Kirkland, WA 98034-4306
      View Details
    • Value Estimation by Request
      4,250 SF

      9702 120th Pl

      RESTAURANT • 4,250 SF
      9702 120th Pl, Kirkland, WA 98034-4206
      View Details
    • Value Estimation by Request
      2,592 SF

      14417 124th NE Ave

      RESTAURANT • 2,592 SF
      14417 124th NE Ave, Kirkland, WA 98034-4801
      View Details
    • Value Estimation by Request
      4,409 SF

      12207 116th St

      RESTAURANT • 4,409 SF
      12207 116th St, Kirkland, WA 98034-8103
      View Details
    • Value Estimation by Request
      2,338 SF

      11640 98th NE Ave

      RESTAURANT • 2,338 SF
      11640 98th NE Ave, Kirkland, WA 98034-4216
      View Details
    • Value Estimation by Request
      1,491 SF

      9702 Juanita Dr

      RESTAURANT • 1,491 SF
      9702 Juanita Dr, Kirkland, WA 98034-4202
      View Details

    Similar Nearby for Sale

    • $3,995,000

      Kirkland Turn-Key Sports Bar

      Fully operational sports bar with high ceilings and extensive infrastructure.
      14417 124Th Ave, Kirkland, WA 98034
      View Details
    • $125,000

      Kirkland Restaurant Opportunity For Sale

      Restaurant for sale in Kirkland with high traffic location.
      11729 124Th Ave Ne, Kirkland, WA 98034
      View Details
    • Contact for pricing
      12,336 SF

      Retail Property in Kirkland, WA

      Retail property with 12,336 square feet of space.
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    • $150,000

      Established Nail Salon in Kirkland

      Profitable, turnkey nail salon business with loyal customer base.
      14130 Juanita Dr Ne, Kirkland, WA 98034
      View Details
    • $1,099,999
      2,002 SF

      New Construction Home Ready Now

      Three-level home near parks, waterfront, shops, dining, and schools.
      13217 NE 127Th Ct, Kirkland, WA 98034
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    • $6,250,000
      5,286 SF

      Kirkland Medical/Office Property For Sale

      Medical or office property in Totem Lake area.
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    Similar Nearby for Lease

    • Contact for pricing
      1,476 SF

      The Bower: Kirkland Retail Space

      Prime Kirkland storefront, 1,476 sq ft.
      11811 128Th St, Kirkland, WA 98034
      View Details
    • $1.15 SF/Yr
      1,400 SF

      Kirkland Retail Space Available

      1,400 SF retail space with open layout and parking.
      11961 124Th Ave NE, Kirkland, WA 98034
      View Details
    • $38 SF/Yr
      1,000 SF

      Kirkland Retail Space For Rent

      Retail space available in Kirkland, Washington.
      11727-11747 124Th Ave NE, Kirkland, WA 98034
      View Details
    • $30 SF/Yr
      2,386 SF

      Kirkland Retail/Office Space Available

      High-visibility retail/office space in Kirkland's Totem Lake neighborhood.
      12340 NE 115Th Pl, Kirkland, WA 98034
      View Details
    • Contact for pricing
      721 SF

      Kirkland Retail Space For Rent

      721 SF retail space in Kirkland, WA for lease.
      9740 NE 119Th Way, Kirkland, WA 98034
      View Details
    • $45 SF/Yr
      1,804 SF

      Kirkland Retail Space For Lease

      Retail space available for lease in Kirkland, Washington.
      12525-12545 Totem Lake Blvd NE, Kirkland, WA 98034
      View Details

    Property Visit Statistics

    • Visits by month
      80.8k
    • Visitors by month
      54.1k
    • Avg Time on site
      17 min
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    12106 124th St
    Kirkland, WA 98034-8211
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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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