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Property profile & analytics
OFF-MARKET
Estimated value
$1,560,000
Assisted living facilities
12215 128th St, Kirkland, WA 98034-7383
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-1210862
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
83,512 SF
Lot
4.35 ac (189,490 SF)
Zoning code
PR 1.8
APN
692840-0070
UPID
US90-1210862
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
-
Duke Hospital
-
Life Care Center-Kirkland-Madison Physician
-
Madison House Assisted Living Community Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.18M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.94M
Blend (final)
Blend
$1.56M
Owner & transaction history
Vtr Madison House LLC · 9 yrs held
Vtr Madison House LLC
since 2017
6 recorded transactions
Zoning & alternative use
PR 1.8 · 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
by Request
ML approach
$1,180,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.56M
Range $1.40M – $1.72M · ±10%
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
$19 / 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
$128,830
Tax year 2022
Assessed value
$16,412,600
Assessed 2022
Previous assessed
$16,412,600
+0.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$6,253,100
Assessed improvement
$10,159,500
Land market value
$6,253,100
Improvement market value
$10,159,500
Total market value
$16,412,600
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Stories
3
Units
146
Total area
83,512 SF
Lot
4.35 ac (189,490 SF)
Zoning code
PR 1.8
APN
692840-0070
UPID
US90-1210862
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
PR 1.8 · Kirkland, WA
Zoning PR 1.8 · permitted uses
PR 1.8 · 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.
Building & site characteristics
From public records
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
3
Units
146
Lot
4.35 ac
Current owner
From public records · entity-resolved
Vtr Madison House LLC
Entity
Mailing address
PO BOX 71970, PHOENIX, AZ 85050-1017
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2017
$12,996,000
Vtr Madison House LLC
Kirkland Partners LLC
Warranty Deed
—
Jul 28, 2016
—
Kirkland Partners LLC
—
Deed
related
$23,550,000 · Oak Grove Funding Madison House LLC
Mar 31, 2014
$12,500,000
Kirkland Partners LLC
Totem Lake Partners LLC
Warranty Deed
$13,676,000 · Bank Of Az
Jul 17, 2008
—
Totem Lake Partners LLC
Totem Lake Associates
Quit Claim Deed
related
$6,000,000 · Bank Of America
—
—
Totem Lake Associates
—
Deed Of Trust
related
$2,800,000 · Key Bank NA
—
—
Totem Lake Associates LP
—
Deed Of Trust
related
$4,000,000 · Pacific Mutual Life Ins Co
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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