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Property profile & analytics
OFF-MARKET
Estimated value
$1,320,000
Commercial real estate
127 Park Ln Kirkland, WA 98033
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US90-0705006
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1948
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,888 SF
Lot
0.12 ac (5,034 SF)
Zoning code
CBD 1
APN
124450-0230
UPID
US90-0705006
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.26M
Comparable Approach
Comparable
$833k
Blend (final)
Blend
$1.32M
Owner & transaction history
121 Park Lane LLC · 14 yrs held
121 Park Lane LLC
since 2012
7 recorded transactions
Zoning & alternative use
CBD 1 · 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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,360,000
6.5%
$1,255,000
7%
$1,165,000
Blend value · Realmo final
$1.32M
Range $1.19M – $1.45M · ±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
$270 / 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
$17,049
Tax year 2022
Assessed value
$2,236,400
Assessed 2022
Previous assessed
$2,236,400
+0.0% YoY
Effective rate
0.76%
On assessed value
Assessed land
$1,057,100
Assessed improvement
$1,179,300
Land market value
$1,057,100
Improvement market value
$1,179,300
Total market value
$2,236,400
Applied tax rate
1,701.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1948
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
4,888 SF
Lot
0.12 ac (5,034 SF)
Zoning code
CBD 1
APN
124450-0230
UPID
US90-0705006
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CBD 1 · Kirkland, WAZoning CBD 1 · permitted uses
CBD 1 · Kirkland, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1948
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
121 Park Lane LLC
Entity
Mailing address
2841 60TH AVE SE, MERCER ISLAND, WA 98040-2418
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 11, 2019
—
121 Park Lane LLC
—
Deed
related
$925,793 · Wells Fargo Bank NA
Jan 10, 2012
$1,850,000
121 Park Lane LLC
Bret A Wirta
Warranty Deed
$1,711,600 · Wells Fargo Bank NA
Jan 29, 2001
$1,475,000
Wirta,bret A & Patricia L
Stabbert,donald J & Sharalyn S
Trustees Deed
$1,032,500 · First Mutual Bank
Jan 7, 1999
$830,000
Donald J Stabbert
Andriesian,david A & Patricia H
Grant Deed
$1,687,000 · Us Bank
—
—
Bret A Wirta
—
Deed Of Trust
related
$1,187,500 · First Mutual Bank
—
—
Bret A Wirta
—
Deed Of Trust
related
$720,000 · Afs Properties INC
—
—
Bret A Wirta
—
Deed Of Trust
related
$228,000 · First Mutual Bank
—
—
Bret A Wirta
—
Deed Of Trust
related
$1,032,500 · Individual
—
—
Bret A Wirta
—
Deed Of Trust
related
$127,834 · Bank Of America
—
—
Bret A Wirta
—
Deed Of Trust
related
$519,932 · Afs Properties INC
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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