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    12700 Northeast 124Th St Kirkland, WA 98034
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    Property profile & analytics

    12700 Northeast 124Th St Kirkland, WA 98034

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    • Manufacturing properties
    • 39,400 SF
    • 2.75 lot acres
    For Lease
    $25,325,000
    View Listing →
    Kirkland Retail Space Available For Lease
    $25,325,000
    12,768 SF

    Kirkland Retail Space Available

    Retail space available for lease in Kirkland, Washington.

    12700 Northeast 124th Street, Kirkland, WA 98034
    View Listing
    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.
    Value Estimations
    $25,325,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • M's Massage Therapy / Alternative Medicine Practice / Spa & Massage Center
    • Metro by T-Mobile / Telecommunications Service
    • Fantastic Floors / Carpet & Flooring Store / Hardware & Home Improvement
    • CSE / Factory / Production Facility
    • Philadelphia Church-Assembly / Church

    Property Details for 12700 Northeast 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 estimation — 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
      $4,635,000
      61,077 SF

      12413 Willows NE Rd

      MANUFACTURING (LIGHT) • 61,077 SF
      12413 Willows NE Rd, Kirkland, WA 98034-8766
      View Details
    • Value Estimation
      $2,805,000
      23,900 SF

      11822 116th St

      MANUFACTURING (LIGHT) • 23,900 SF
      11822 116th St, Kirkland, WA 98034-7100
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Development-Ready Lots in Kirkland

      Four lots suitable for DADUs, cottage housing, or SFRs.
      13113 NE 134Th Pl, Kirkland, WA 98034
      View Details
    • $3,995,000

      Kirkland Sports Bar Opportunity

      Fully operational sports bar with high ceilings and extensive infrastructure.
      14417 124Th Ave NE, Kirkland, WA 98034
      View Details
    • Contact for pricing

      Development-Ready Lots in Kirkland

      Four lots ideal for DADUs, cottage housing, or SFRs.
      13111 NE 134Th Pl, Kirkland, WA 98034
      View Details
    • $2,100,000
      14,410 SF

      Kirkland Land Parcel For Sale

      Land parcel available in Kirkland, Washington.
      11636 120Th Ave NE, Kirkland, WA 98034
      View Details
    • $125,000

      Kirkland Restaurant Opportunity For Sale

      Restaurant for sale in Kirkland with high traffic location.
      11729 124Th Ave Ne, Kirkland, WA 98034
      View Details
    • $1,800,000
      4,344 SF

      Kirkland Multifamily Property For Sale

      Multifamily property in Kirkland's Totem Lake neighborhood.
      12607 119Th St, Kirkland, WA 98034
      View Details

    Similar Nearby for Lease

    • $780,816
      32,534 SF

      Kirkland Flex, Industrial, Office Space

      Flex, industrial, and office space in Kirkland's Totem Lake.
      11730 118Th Ave NE, Kirkland, WA 98034
      View Details
    • $13,688 /Mo
      9,125 SF

      Warehouse Space with Office

      9,125 SF warehouse space with office for lease.
      13536 126Th Pl, Kirkland, WA 98034
      View Details
    • Contact for pricing
      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
    • Contact for pricing

      Kirkland Flex/Industrial Space Available

      Flex/Industrial space for rent in Kirkland, Washington.
      13625 Northeast 126Th Pl, Kirkland, WA 98034
      View Details
    • Contact for pricing
      1,850 SF

      Kirkland Flex/Industrial Space Available

      Flex/Industrial space available for rent in Kirkland, Washington.
      13209 NE 126Th Pl, Kirkland, WA 98034
      View Details
    • Contact for pricing
      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

    Property Visit Statistics

    • Visits by month
      1.9k
    • Visitors by month
      2.6k
    • Avg Time on site
      33 min
    View Listing
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    Kirkland, WA 98034
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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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    12700 Northeast 124Th St, Kirkland, WA, 98034
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