Entity Owned 
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
Current use
Occupant on record · Public records
-
Alternative Medicine Practice Spa & Massage Center
-
Telecommunications Service
-
Carpet & Flooring Store Hardware & Home Improvement
-
Factory Production Facility
-
Church
Location
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
since 2021
Last sale
$30.0M
2 recorded transactions
Zoning & alternative use
TL 7A · Kirkland, WA
Top alternative use upside
Office building
$21.7M
+44.5%
Restaurant
$20.9M
+39.1%
Commercial (general)
$20.1M
+33.7%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
6 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$25.33M
Value range
$22.79M – $27.86M
±10% around blend
Estimated value / SF
$643 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
$22.79M
blend $25.33M
$27.86M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
39,400 SF
Lot area
2.75 ac
Year built
1968
Stories
2
APN
282605-9039
Zoning
TL 7A
Assessed value
$23,050,600
Annual tax
$181,909
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$23.80M
Range $7.58M – $23.80M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$25.33M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 166 sales
$381
+69%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $643/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+45%
vs current-use indication
Restaurant
Commercial (general)
Auto Repair, Garage
Medical Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$30.00M
Move the market yield to see immediate price impact.
Value / SF
$761
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$1.89M
$37.80M
$27.00M
$21.00M
$2.10M
$42.00M
$30.00M
$23.33M
$2.31M
$46.20M
$33.00M
$25.67M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
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
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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, WAZoning TL 7A · permitted uses
TL 7A · Kirkland, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · 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
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
TL 7A
Jurisdiction
Kirkland, WA
Recorded code
TL 7A
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for TL 7A in Kirkland, WA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
