Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$12,350,000
Office buildings
12707 120th NE Ave Kirkland, WA 98034-7500
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1587384
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1979
Construction
WOOD
Total area
16,928 SF
Lot
1.06 ac (46,295 SF)
Zoning code
TL 1A
APN
692840-0025
UPID
US90-1587384
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
-
Andrea Hubbard Physician
-
Badger David S MD Physician
-
Washington Institute Orthoped Medical Clinic
-
Cohen-Tomlan S R Employment Agency
-
MVP Physical Therapy - Kirkland Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.79M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.56M
Blend (final)
Blend
$12.35M
Owner & transaction history
Swyft Totem Lake LLC · 4 yrs held
Swyft Totem Lake LLC
since 2022
Last sale
$12.4M
7 recorded transactions
Zoning & alternative use
TL 1A · 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
$11,995,000
ML approach
$7,785,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,330,000
Current use
RESTAURANT
$8,980,000
Change: -4% · Conversion: Moderate
COMMERCIAL (GENERAL)
$8,630,000
Change: -8% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,770,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$12.35M
Range $11.12M – $13.59M · ±10% · vs last sale $12.42M (Apr 15 2022)
Last sale anchor
$12.42M
Apr 15 2022
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
$730 / 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
$61,778
Tax year 2022
Assessed value
$8,006,900
Assessed 2022
Previous assessed
$8,006,900
+0.0% YoY
Effective rate
0.77%
On assessed value
Assessed land
$1,666,600
Assessed improvement
$6,340,300
Land market value
$1,666,600
Improvement market value
$6,340,300
Total market value
$8,006,900
Applied tax rate
1,806.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1979
Construction
WOOD
Heating
OTHER
Cooling
OTHER
Stories
2
Total area
16,928 SF
Lot
1.06 ac (46,295 SF)
Zoning code
TL 1A
APN
692840-0025
UPID
US90-1587384
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TL 1A · Kirkland, WA
Zoning TL 1A · permitted uses
TL 1A · 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 Current
Est. value
$9.3M
RESTAURANT
Est. value
$9.0M
COMMERCIAL (GENERAL)
Est. value
$8.6M
AUTO REPAIR, GARAGE
Est. value
$7.8M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1979
Construction
WOOD
Heating
OTHER
Cooling
Yes
Stories
2
Lot
1.06 ac
Current owner
From public records · entity-resolved
Swyft Totem Lake LLC
Entity
Mailing address
12332 NE 115TH PL, KIRKLAND, WA 98033-4430
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2022
$12,415,500
Swyft Totem Lake LLC
Orthowashington Properties LLC
Warranty Deed
$6,500,000 · Banner Bank
Dec 13, 2017
$7,200,000
Orthowashington Properties LLC
Institute Properties LLC
Warranty Deed
$5,400,000 · Coastal Community Bank
Oct 31, 1997
$1,630,000
Institute Properties LLC
Padrick Investors III
Grant Deed
$2,300,000 · Us Bank
—
—
Institute Properties LLC
—
Deed Of Trust
related
$110,000 · Us Bank NA
—
—
Institute Properties LLC
—
Deed Of Trust
related
$2,870,000 · Frontier Bank
—
—
Padrick Investors III
—
Deed Of Trust
related
$515,000 · Enterprise Bank Of Bellevue
—
—
Institute Properties LLC
—
Deed Of Trust
related
$100,000 · Us Bank
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 12707 120th NE Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
