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Property profile & analytics
OFF-MARKET
Estimated value
$30,520,000
Assisted living facilities
14 Main S St Kirkland, WA 98033-6044
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-3261045
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2008
Construction
STEEL FRAME
Total area
76,820 SF
Lot
0.89 ac (38,683 SF)
Zoning code
CBD 1B
APN
124400-0005
UPID
US90-3261045
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
-
Merrill Gardens at Kirkland Retirement Community
-
Merrill Gardens Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$30.42M
Blend (final)
Blend
$30.52M
Owner & transaction history
Mg At Kirkland LLC · 5 yrs held
Mg At Kirkland LLC
since 2020
Last sale
$29.2M
7 recorded transactions
Zoning & alternative use
CBD 1B · Kirkland, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$42.7M
+126.0%
Restaurant
$40.8M
+115.6%
Commercial (general)
$39.2M
+107.2%
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
$33,270,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$18,900,000
Current use
OFFICE BUILDING
$42,710,000
Change: +126% · Conversion: Difficult
RESTAURANT
$40,755,000
Change: +116% · Conversion: Difficult
COMMERCIAL (GENERAL)
$39,160,000
Change: +107% · Conversion: Difficult
AUTO REPAIR, GARAGE
$35,265,000
Change: +87% · Conversion: Difficult
MEDICAL BUILDING
$30,345,000
Change: +61% · Conversion: Difficult
RETAIL STORES
$30,135,000
Change: +59% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$29,295,000
Change: +55% · Conversion: Difficult
Blend value · Realmo final
$30.52M
Range $27.47M – $33.57M · ±10% · vs last sale $29.20M (Sep 23 2020)
Last sale anchor
$29.20M
Sep 23 2020
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
$397 / 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
$254,364
Tax year 2022
Assessed value
$33,944,000
Assessed 2022
Previous assessed
$33,944,000
+0.0% YoY
Effective rate
0.75%
On assessed value
Assessed land
$7,440,700
Assessed improvement
$26,503,300
Land market value
$7,440,700
Improvement market value
$26,503,300
Total market value
$33,944,000
Applied tax rate
1,701.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2008
Construction
STEEL FRAME
Heating
GAS
Cooling
AC.PACKAGE
Stories
4
Units
115
Total area
76,820 SF
Lot
0.89 ac (38,683 SF)
Zoning code
CBD 1B
APN
124400-0005
UPID
US90-3261045
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CBD 1B · Kirkland, WAZoning CBD 1B · permitted uses
CBD 1B · Kirkland, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$18.9M
OFFICE BUILDING
Est. value
$42.7M
RESTAURANT
Est. value
$40.8M
COMMERCIAL (GENERAL)
Est. value
$39.2M
AUTO REPAIR, GARAGE
Est. value
$35.3M
MEDICAL BUILDING
Est. value
$30.3M
RETAIL STORES
Est. value
$30.1M
INDUSTRIAL (GENERAL)
Est. value
$29.3M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
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
2008
Construction
STEEL FRAME
Heating
GAS
Cooling
Yes
Stories
4
Units
115
Lot
0.89 ac
Current owner
From public records · entity-resolved
Mg At Kirkland LLC
Entity
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 23, 2020
$29,197,000
Mg At Kirkland LLC
Mgp 45 LLC
Warranty Deed
$459,640,000 · Prudential Insurance Co
Aug 29, 2007
—
City Of Kirkland
Merrill Gardens Of Kirkland LLC
Warranty Deed
—
Jan 10, 2007
—
Lynn E Gitlin
Stein,michael
Quit Claim Deed
related
—
Jan 10, 2007
$10,000,000
Merrill Gardens Of Kirkland LLC
Dayton,kenneth A
Warranty Deed
—
Dec 30, 2005
—
Kenneth A Dayton
Olympiad Investment
Quit Claim Deed
related
—
Mar 17, 1993
—
Olympiad Investment Co
Lawson,harry
Quit Claim Deed
related
—
—
—
Olympiad Investment Co
—
Deed Of Trust
related
$365,000 · Us Bank
—
—
Merrill Gardens Of Kirkland LLC
—
Deed Of Trust
related
$34,000,000 · Bank Of America
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.
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