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Property profile & analytics
FOR LEASE
Manufacturing properties
12700 Northeast 124Th St, Kirkland, WA 98034
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1645335
For Lease
1 / 3
$25,325,000
12700 Northeast 124Th St, Kirkland, WA 98034
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1968
Construction
STEEL FRAME
Total area
39,400 SF
Lot
2.75 ac (119,772 SF)
Zoning code
TL 7A
APN
282605-9039
UPID
US90-1645335
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
-
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$23.80M
Blend (final)
Blend
$25.33M
Owner & transaction history
Acg Totem LLC · 4 yrs held
Acg Totem LLC
since 2021
Last sale
$30.0M
2 recorded transactions
Zoning & alternative use
TL 7A · Kirkland, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$21.7M
+44.5%
Restaurant
$20.9M
+39.1%
Commercial (general)
$20.1M
+33.7%
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
$32,320,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$21,715,000
Change: +45% · Conversion: Difficult
RESTAURANT
$20,900,000
Change: +39% · Conversion: Difficult
COMMERCIAL (GENERAL)
$20,085,000
Change: +34% · Conversion: Difficult
AUTO REPAIR, GARAGE
$18,090,000
Change: +20% · Conversion: Easy
MEDICAL BUILDING
$15,565,000
Change: +4% · Conversion: Difficult
RETAIL STORES
$15,455,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$25.33M
Range $22.79M – $27.86M · ±10% · vs last sale $30.00M (Dec 23 2021)
Last sale anchor
$30.00M
Dec 23 2021
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
$643 / 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
$181,909
Tax year 2022
Assessed value
$23,050,600
Assessed 2022
Previous assessed
$23,050,600
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$3,952,400
Assessed improvement
$19,098,200
Land market value
$3,952,400
Improvement market value
$19,098,200
Total market value
$23,050,600
Applied tax rate
1,743.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Lease
Year built
1968
Construction
STEEL FRAME
Heating
ELECTRIC
Cooling
CENTRAL
Buildings
2
Stories
2
Total area
39,400 SF
Lot
2.75 ac (119,772 SF)
Zoning code
TL 7A
APN
282605-9039
UPID
US90-1645335
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TL 7A · Kirkland, WA
Zoning TL 7A · permitted uses
TL 7A · 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
OFFICE BUILDING
Est. value
$21.7M
RESTAURANT
Est. value
$20.9M
COMMERCIAL (GENERAL)
Est. value
$20.1M
AUTO REPAIR, GARAGE
Est. value
$18.1M
MEDICAL BUILDING
Est. value
$15.6M
RETAIL STORES
Est. value
$15.5M
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1968
Construction
STEEL FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
2
Buildings
2
Lot
2.75 ac
Current owner
From public records · entity-resolved
Acg Totem LLC
Entity
Mailing address
15 LK BELLEVUE DR STE #200, BELLEVUE, WA 98005-2485
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2021
$30,000,000
Acg Totem LLC
Totem Commercial Center LLC
Warranty Deed
$15,000,000 · Umpqua Bank
Jul 20, 1998
—
Totem Commercial Center LLC
Woosley,harold J & Marian W
Quit Claim Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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