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    Property profile & analytics

    14 Main S St Kirkland, WA 98033-6044

    • Assisted living facilities
    • 76,820 SF
    • 0.89 lot acres
    OFF-MARKET
    Last Sale
    Sep 23, 2020
    $29,197,000
    Value Estimations
    $30,520,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3261045
    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.

    Current Use by Public Records

    • Merrill Gardens at Kirkland / Retirement Community
    • Merrill Gardens / Parking Lot & Garage

    Property Details for 14 Main S St

    Year built
    2008
    Construction
    STEEL FRAME
    Lot size
    0.89 lot acres
    Property size
    76,820 SF
    Zone code
    CBD 1B
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    124400-0005
    APU
    1244000005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $33,270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $30,423,000
      Market price range: $11.2M - $30.5M

    • 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

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kirkland
    County
    King
    State
    Washington
    Longitude
    -122.205
    Latitude
    47.6751
    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
    $254,364
    $7,440,700
    $26,503,300
    $33,944,000
    -
    $7,440,700
    $26,503,300
    $33,944,000

    Comparable in this City

    • Value Estimation
      $2,535,000
      8,639 SF

      11410 99th NE Pl

      HOMES (RETIRED, NURSING) • 8,639 SF
      11410 99th NE Pl, Kirkland, WA 98033-4314
      View Details
    • Value Estimation
      $5,700,000
      34,960 SF

      6505 Lakeview Dr

      HOMES (RETIRED, NURSING) • 34,960 SF
      6505 Lakeview Dr, Kirkland, WA 98033-6953
      View Details
    • Value Estimation
      $2,715,000
      19,508 SF

      8045 120th NE Ave

      HOMES (RETIRED, NURSING) • 19,508 SF
      8045 120th NE Ave, Kirkland, WA 98033-5359
      View Details
    • Value Estimation by Request
      1,220 SF

      21 10th S Ave

      HOMES (RETIRED, NURSING) • 1,220 SF
      21 10th S Ave, Kirkland, WA 98033-6519
      View Details
    • Value Estimation by Request
      0.75 Acres

      6700 Lk Washington NE Blvd

      HOMES (RETIRED, NURSING) • 0.75 Acres
      6700 Lk Washington NE Blvd, Kirkland, WA 98033-6812
      View Details
    • Value Estimation
      $2,155,000
      97,520 SF

      1002 Lk S St

      HOMES (RETIRED, NURSING) • 97,520 SF
      1002 Lk S St, Kirkland, WA 98033-7070
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,341 SF

      Kirkland Former Veterinarian Clinic

      Well-maintained 2,341 SF building suitable for veterinarian, daycare, medical, dental.
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      Kirkland Multifamily Property Near Marsh Park

      Six-unit property near downtown Kirkland with lake and mountain views.
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      4,145 SF

      Turn-Key Sports Bar Opportunity

      Fully operational sports bar in Kirkland's busy commercial corridor.
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      34,250 SF

      Kirkland Lakeview Office Building For Sale

      34,240 SF office property in Kirkland, Washington.
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    • $7,500,000

      Kirkland Retail Building with Renovation

      Downtown Kirkland retail building featuring recent renovations and historic charm.
      116 Central Way, Kirkland, WA 98033
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    Similar Nearby for Lease

    • Contact for pricing
      96,389 SF

      Prime Kirkland Executive Office Space

      Class A Office Suites, 2,997 - 15,296 SF Available
      10230 Points Dr, Kirkland, WA 98033
      View Details
    • Contact for pricing
      3,360 SF

      Kirkland Restaurant Space for Sublease

      Adaptable restaurant space with outdoor seating in downtown Kirkland.
      232 Central Way, Kirkland, WA 98033
      View Details
    • Contact for pricing

      Kirkland Industrial Space Available

      Industrial property available for rent in Kirkland, Washington.
      11155 120Th Ave NE, Kirkland, WA 98033
      View Details
    • Contact for pricing
      3,553 SF

      Kirkland Office Space Available

      Office space available for rent in Kirkland, Washington.
      4030 Lake Washington Blvd NE, Kirkland, WA 98033
      View Details
    • $3,600 /Mo
      1,200 SF

      Kirkland Retail/Office Space Available

      Retail/office space with high visibility and foot traffic.
      106 Central Way, Kirkland, WA 98033
      View Details
    • $8,000 /Mo
      3,200 SF

      Second Floor Office Space Available

      Second-floor office space with lobby and elevator access for lease.
      12801 85Th St, Kirkland, WA 98033
      View Details
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    14 Main S St
    Kirkland, WA 98033-6044
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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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