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Property profile & analytics
OFF-MARKET
Estimated value
$9,560,000
Warehouses
12530 135th NE Ave, Kirkland, WA 98034-8709
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0921434
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
30,000 SF
Lot
2.05 ac (89,298 SF)
Zoning code
TL 7B
APN
272605-9091
UPID
US90-0921434
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
-
Macro Technologies LLC Industrial Manufacturer Production Facility
-
TK Elevator Seattle General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.72M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.56M
Owner & transaction history
Lmj Enterprises Limited Partnership · 2 yrs held
Lmj Enterprises Limited Partnership
since 2023
Last sale
$10.0M
6 recorded transactions
Zoning & alternative use
TL 7B · Kirkland, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$15.9M
+84.9%
Commercial (general)
$15.3M
+77.7%
Auto repair, garage
$13.8M
+60.0%
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
$9,535,000
ML approach
$8,715,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$8,610,000
Current use
RESTAURANT
$15,915,000
Change: +85% · Conversion: Difficult
COMMERCIAL (GENERAL)
$15,295,000
Change: +78% · Conversion: Difficult
AUTO REPAIR, GARAGE
$13,770,000
Change: +60% · Conversion: Easy
MEDICAL BUILDING
$11,850,000
Change: +38% · Conversion: Difficult
RETAIL STORES
$11,770,000
Change: +37% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$11,440,000
Change: +33% · Conversion: Easy
Blend value · Realmo final
$9.56M
Range $8.60M – $10.52M · ±10% · vs last sale $10.00M (Oct 30 2023)
Last sale anchor
$10.00M
Oct 30 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
$319 / 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
$39,475
Tax year 2022
Assessed value
$4,319,900
Assessed 2022
Previous assessed
$4,319,900
+0.0% YoY
Effective rate
0.91%
On assessed value
Assessed land
$2,411,000
Assessed improvement
$1,908,900
Land market value
$2,411,000
Improvement market value
$1,908,900
Total market value
$4,319,900
Applied tax rate
1,703.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
30,000 SF
Lot
2.05 ac (89,298 SF)
Zoning code
TL 7B
APN
272605-9091
UPID
US90-0921434
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TL 7B · Kirkland, WA
Zoning TL 7B · permitted uses
TL 7B · 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
WAREHOUSE, STORAGE Current
Est. value
$8.6M
RESTAURANT
Est. value
$15.9M
COMMERCIAL (GENERAL)
Est. value
$15.3M
AUTO REPAIR, GARAGE
Est. value
$13.8M
MEDICAL BUILDING
Est. value
$11.9M
RETAIL STORES
Est. value
$11.8M
INDUSTRIAL (GENERAL)
Est. value
$11.4M
WAREHOUSE, STORAGE Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
2.05 ac
Current owner
From public records · entity-resolved
Lmj Enterprises Limited Partnership
Entity
Mailing address
18700 120TH AVE NE, BOTHELL, WA 98011-9500
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2023
$10,000,000
Lmj Enterprises Limited Partnership
Loyal Stewards LLC
Warranty Deed
$6,500,000 · Coastal Community Bank
Apr 9, 2009
—
Loyal Stewards LLC
Jtb Investments
Warranty Deed
—
Aug 24, 1999
—
Jtb Investments LP
—
Grant Deed
related
$1,235,000 · Interwest Bank
Sep 30, 1994
$1,535,000
Jtb Investments LP
Halverson Trust
Grant Deed
$1,385,000 · Seller
Apr 8, 1994
—
Michael H Rasmussen
Rasmussen,peggy
Quit Claim Deed
related
$685,000 · First Interstate Bank Washingt
—
—
Jtb Investments LP
—
Deed Of Trust
related
$1,200,000 · Fortis Benefits Insurance 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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