Financial
Distress signals
Property profile

12220 113Th Ave NE Kirkland, WA 98034

FOR LEASE
Office buildings
Property ID
US90-1415331
52,040 SF 2.09 ac lot Built 1993
Last sale Aug 2017 · $14,650,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 9-yr Hold Held for 9 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Market Trends Soon
12220 113Th Ave NE, Kirkland, WA 98034 For Lease
Contact for pricing 28,487 SF available
12220 113Th Ave NE, Kirkland, WA 98034
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Property summary

AI-generated overview

The property is an office building totaling 28,487 square feet, which has had substantial upgrades and includes a tenant amenity area with lounge seating and a coffee bar. It is set within park-like landscaping and includes a tree-covered picnic area for outdoor use, along with free on-site parking. The building is located within walking distance of nearby dining options such as Olive Garden, Azteca, and Wendy’s without crossing streets, and guest accommodations are available at the Courtyard by Marriott directly across the street.

Ownership intelligence

Who controls the opportunity?

Resolved identity, portfolio, hold profile and investor signals. Included in the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2022

What does the county charge?
$128k
Tax billed · 2022
Assessed value$16.16M
Assessed land$2.73M
Assessed improvement$13.43M
Effective rate0.79%

Value estimate

· Sep 2026
$13.44M
$12.10M – $14.78M
CAP approach$18.01M
NOI build-up
Gross scheduled income$1.03M
Vacancy & credit loss−$225k
Operating expenses−$200k
NOI · 2,402,820.00% cap applied$601k

Realmo valuation models over county records and 7 qualifying comparable sales.

Recently sold

What actually traded nearby?
$551/SF
Submarket average, outlier-cleaned · 27 recorded sales of this use type
Observed band · Q1–Q3$311 – $742
Qualifying comparables7

Cap rate analysis

How does the asset earn?
2,402,820.00%
$601k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
TL 10A
JurisdictionKING

Location intelligence

Which uses thrive at this corner?
Best fit: Law Firm
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Law Firm24.6
Wholesale Shop20.8
Convenience Store15.9

Location

12220 113Th Ave NE Kirkland, WA 98034
County assessor Recorded deeds · 5 transfers 7 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 12 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
12707 120th NE, Kirkland, WA 98034-7500 $12,415,500 Apr 2022 16,928 SF
12025 115th NE, Kirkland, WA 98034-6942 $9,425,000 Dec 2021 22,944 SF
11730 118th NE, Kirkland, WA 98034-7125 $9,900,000 Jan 2020 38,760 SF
11335 122nd, Kirkland, WA 98034-6933 $15,744,400 Jun 2019 53,488 SF
11332 122nd, Kirkland, WA 98034-6949 $35,748,500 Feb 2019 66,909 SF
11410 122nd, Kirkland, WA 98034-6945 $35,748,500 Feb 2019 66,909 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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