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    312 Central Way Kirkland, WA 98033

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    312 Central Way Kirkland, WA 98033

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    • Commercial real estate
    • 12,972 SF
    Off-Market
    Property ID
    US90-1884469
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CDReload - Online Bitcoin ATM / Crypto Atm / Atm
    • 5 Stones Coffee Co / Cafe & Coffee Shop
    • Parque Kirkland / Apartment Complex
    • View, Inc. - PNW / Corporate Office
    • Arleana's Restaurant / Restaurant

    Property Details for 312 Central Way

    Year built
    2020
    Property size
    12,972 SF
    Property type
    Commercial real estate

    Description

    This exceptional 12,972-square-foot Class A retail space is ideally situated at 312 Central Way in Kirkland, Washington, 98033. Built in 2020, the property boasts a single-tenant occupancy and is currently entirely vacant, presenting a unique opportunity for a discerning business. The building features ample parking with 68 spaces readily available for customers and employees. Power is robust, supplied by an 800-amp service, ensuring sufficient capacity for a wide range of retail operations. The property is zoned CBD-7 "Retail" within King County, allowing for a variety of commercial uses. Its location in Kirkland offers unparalleled access to the vibrant community, boasting top-rated schools, abundant green spaces, and a diverse range of dining and entertainment options. Furthermore, its proximity to major tech hubs in Seattle, Bellevue, and Redmond provides exceptional convenience and accessibility. This property represents a rare chance to establish a flagship location in a thriving and desirable market. The entire space is available for lease, offering a blank canvas for a new business or a relocation opportunity for an existing one. The building's modern design and prime location combine to create an exceptional retail opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Kirkland
    County
    King
    State
    Washington
    Longitude
    -122.2025646
    Latitude
    47.6778788

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      Retail Space in Kirkland

      4,213 SF retail space available for rent immediately.
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    Similar Nearby for Lease

    • $2,650 /Mo
      1,272 SF

      Renovated Office/Retail Space Available

      Newly renovated office/retail space near Kirkland amenities and transit.
      123 Lake St S, Kirkland, WA 98033
      View Details
    • $3,000 /Mo
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      Kirkland Retail/Office Space Available

      Retail/office space with high visibility and foot traffic.
      106 Central Way, 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.
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      Downtown Kirkland Retail/Office Space

      Rare retail/office space in Downtown Kirkland near Marina Park.
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      Kirkland Retail Space For Rent

      Newly renovated retail space near Kirkland amenities and transit.
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      View Details
    • $10,533 /Mo
      4,213 SF

      Retail Space in Kirkland

      4,213 SF retail space available for rent immediately.
      106 Central Way, Kirkland, WA 98033
      View Details
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    312 Central Way
    Kirkland, WA 98033
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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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