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Property profile & analytics
FOR LEASE
Retail space
255 Central Way Kirkland, WA 98033
Entity Owned
14-yr Hold
Free & Clear
Property ID
US90-0850154
For Lease
$45 SF/Yr
255 Central Way, Kirkland, WA 98033
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,701 SF
Lot
1.45 ac (63,051 SF)
Zoning code
CBD 1B
APN
124450-0435
UPID
US90-0850154
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
-
Kirkland Square Shopping Center & Mall
-
Subway Take-out & Catering Catering Service
-
Republic Parking Parking Lot & Garage
-
Market On Central Grocery & Convenience Store
-
Bitcoin Depot - Bitcoin ATM Atm Crypto Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.12M
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$2.25M
Owner & transaction history
Panos Properties LLC · 14 yrs held
Panos Properties LLC
since 2012
7 recorded transactions
Zoning & alternative use
CBD 1B · Kirkland, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.5M
+17.0%
Medical building
$3.0M
+0.7%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,295,000
6.5%
$2,120,000
7%
$1,970,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,020,000
Current use
AUTO REPAIR, GARAGE
$3,535,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$3,040,000
Change: +1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,935,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,670,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$2.25M
Range $2.02M – $2.47M · ±10%
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
$292 / 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
$110,510
Tax year 2022
Assessed value
$14,125,000
Assessed 2022
Previous assessed
$14,125,000
+0.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$13,240,700
Assessed improvement
$884,300
Land market value
$13,240,700
Improvement market value
$884,300
Total market value
$14,125,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
4
Stories
1
Total area
7,701 SF
Lot
1.45 ac (63,051 SF)
Zoning code
CBD 1B
APN
124450-0435
UPID
US90-0850154
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CBD 1B · Kirkland, WA
Zoning 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
Kirkland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.0M
INDUSTRIAL (GENERAL)
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.7M
RETAIL STORES Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Buildings
4
Lot
1.45 ac
Current owner
From public records · entity-resolved
Panos Properties LLC
Entity
Free & Clear · 14 yrs held
Mailing address
6850 E GRN LK WAY N STE #201, SEATTLE, WA 98115-5412
Ownership since
2012
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
Sep 15, 2017
—
Panos Properties LLC
—
Loan Modification
related
$92,798,035 · Miscellaneous Ins Co
Nov 6, 2014
—
Panos Properties LLC
—
Loan Modification
related
$86,035,339 · Miscellaneous Ins Co
Mar 13, 2012
—
Panos Properties LLC
K Square LLC
Quit Claim Deed
related
—
Feb 17, 2005
$8,890,000
K Square LLC
Kirkland Square LLC
Warranty Deed
—
Jul 31, 2003
—
Kirkland Square LLC
Corbett Holt Properties INC
Quit Claim Deed
related
$2,200,000 · Intervest-mortgage Investment
—
—
Panos Properties LLC
—
Deed Of Trust
related
$91,000,000 · Miscellaneous Ins Co
—
—
Panos Properties LLC
—
Loan Modification
related
$86,035,339 · Miscellaneous Ins Co
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?”
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