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

    12700 124th St Kirkland, WA 98034-8316

    • Manufacturing properties
    • 39,400 SF
    • 2.75 lot acres
    OFF-MARKET
    Last Sale
    Dec 23, 2021
    $30,000,000
    Value Estimations
    $25,325,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1645335
    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

    • M's Massage Therapy / Massage Therapist
    • Metro by T-Mobile / Telecommunications Service Provider / Cell Phone Accessory Store
    • Fantastic Floors / Tile Store / Wood And Laminate Flooring Supplier
    • CSE / Embroidery Shop / Screen Printer
    • Philadelphia Church-Assembly / Church

    Property Details for 12700 124th St

    Year built
    1968
    Construction
    STEEL FRAME
    Lot size
    2.75 lot acres
    Property size
    39,400 SF
    Zone code
    TL 7A
    Property type
    Manufacturing properties
    APN
    282605-9039
    APU
    2826059039

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $32,320,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $23,800,000
      Market price range: $7.58M - $23.8M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $21,715,000
      RESTAURANT
      $20,900,000
      COMMERCIAL (GENERAL)
      $20,085,000
      AUTO REPAIR, GARAGE
      $18,090,000
      MEDICAL BUILDING
      $15,565,000
      RETAIL STORES
      $15,455,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Kirkland
    County
    King
    State
    Washington
    Longitude
    -122.171
    Latitude
    47.7109
    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
    $181,909
    $3,952,400
    $19,098,200
    $23,050,600
    -
    $3,952,400
    $19,098,200
    $23,050,600

    Comparable in this City

    • Value Estimation
      $1,490,000
      17,746 SF

      11511 118th St

      MANUFACTURING (LIGHT) • 17,746 SF
      11511 118th St, Kirkland, WA 98034-7111
      View Details
    • Value Estimation
      $885,000
      5,775 SF

      13131 124th St

      MANUFACTURING (LIGHT) • 5,775 SF
      13131 124th St, Kirkland, WA 98034-8303
      View Details
    • Value Estimation
      $2,070,000
      10,376 SF

      13110 126th Pl

      MANUFACTURING (LIGHT) • 10,376 SF
      13110 126th Pl, Kirkland, WA 98034-8770
      View Details
    • Value Estimation by Request
      3,144 SF

      Kirkland, WA 98034

      MANUFACTURING (LIGHT) • 3,144 SF
      Kirkland, WA 98034
      View Details
    • Value Estimation
      $5,545,000
      46,089 SF

      10819 116th St

      MANUFACTURING (LIGHT) • 46,089 SF
      10819 116th St, Kirkland, WA 98034
      View Details
    • Value Estimation
      $7,335,000
      63,148 SF

      11615 116th St

      MANUFACTURING (LIGHT) • 63,148 SF
      11615 116th St, Kirkland, WA 98034-7103
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,385 SF

      Kirkland Hilltop Parcel with Views

      70,814 SF parcel in Totem Lake Business District.
      11805 NE 116Th St, Kirkland, WA 98034
      View Details
    • $899,990
      1,600 SF

      Luxury Townhomes Near Totem Lake

      Elegant 3-bedroom townhomes with upscale finishes and modern amenities.
      12705 NE 144Th St, Kirkland, WA 98034
      View Details
    • $350,000

      Kirkland Development-Ready Land Opportunity

      Four lots suitable for DADUs, cottage housing, or single-family residences.
      13119 NE 134Th Pl, Kirkland, WA 98034
      View Details
    • $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
    • $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
      View Details
    • Contact for pricing
      12,336 SF

      Retail Property in Kirkland, WA

      Retail property with 12,336 square feet of space.
      12421 Totem Lake Blvd NE, Kirkland, WA 98034
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      2,550 SF

      Industrial Space in Kirkland Available

      2,550 square feet of industrial space for lease.
      11630 Slater Ave NE, Kirkland, WA 98034
      View Details
    • $18 SF/Yr
      32,248 SF

      AmTest Warehouse: Kirkland, WA

      Prime Kirkland Warehouse Space Available
      13536 126Th Pl, Kirkland, WA 98034
      View Details
    • $1.50 SF/Yr
      9,125 SF

      Kirkland Warehouse with Office Space

      9,125 SF warehouse with 1,558 SF office space.
      13536-13600 NE 126Th Pl, Kirkland, WA 98034
      View Details
    • $19 SF/Yr
      2,400 SF

      Kirkland Warehouse Space Available

      Industrial warehouse space available for rent in Kirkland, Washington.
      12522-12932 128Th Ln NE, Kirkland, WA 98034
      View Details
    • $24 SF/Yr
      32,563 SF

      Kirkland Flex/Industrial Space For Lease

      Unique flex/industrial space in Totem Lake business district.
      11730 118Th Ave NE, Kirkland, WA 98034
      View Details
    • 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

    Property Visit Statistics

    • Visits by month
      1.9k
    • Visitors by month
      2.6k
    • Avg Time on site
      33 min
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    12700 124th St
    Kirkland, WA 98034-8316
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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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