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    Property profile & analytics

    6610 NE 181St St Kenmore, WA 98028

    • Medical offices
    • 5,981 SF
    • 0.42 lot acres
    For Lease
    View listing
    $30 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1090289
    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

    • Medical offices

    Property Details for 6610 NE 181St St

    Year built
    1975
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.42 lot acres
    Property size
    5,981 SF
    Zone code
    DC
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    618170-0496
    APU
    6181700496

    Description

    This exceptional office property, Kenmore Village Square, offers a unique opportunity for businesses seeking flexible and conveniently located space. The single-story, 6,125 square foot building is situated on a 0.42-acre lot in the heart of downtown Kenmore, just two blocks from the shores of Lake Washington. The building features a total of 17 parking spaces, making it convenient for employees and clients. The property is classified as a Class B building and was constructed in 1975. Currently, there are multiple tenants, with available suites ranging from 1,080 to 3,250 square feet, ideal for a variety of medical or professional office uses. Its central location offers easy access to amenities and is a short distance from public transportation, benefiting from the ongoing development and growth in downtown Kenmore. Qualified tenants may be eligible for a rent abatement incentive on initial lease terms (restrictions apply). This is a fantastic opportunity to establish a presence in a thriving and desirable location. The property boasts a single building with no elevators. The property is located in King County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Kenmore
    County
    King
    State
    Washington
    Longitude
    -122.252
    Latitude
    47.7607
    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
    $13,413
    $771,100
    $289,100
    $1,060,200
    -
    $771,100
    $289,100
    $1,060,200

    Comparable in this City

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      5723 Bothell Way

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      5723 Bothell Way, Kenmore, WA 98028-9404
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    • Value Estimation
      $1,045,000
      8,061 SF

      18208 66th NE Ave

      MEDICAL BUILDING • 8,061 SF
      18208 66th NE Ave, Kenmore, WA 98028-7949
      View Details
    • Value Estimation
      $720,000
      4,676 SF

      18031 67th NE Ave

      MEDICAL BUILDING • 4,676 SF
      18031 67th NE Ave, Kenmore, WA 98028-4839
      View Details
    • Value Estimation by Request
      4,167 SF

      6505 181st St

      MEDICAL BUILDING • 4,167 SF
      6505 181st St, Kenmore, WA 98028
      View Details
    • Value Estimation
      $4,000,000
      10,588 SF

      5701 Bothell Way

      MEDICAL BUILDING • 10,588 SF
      5701 Bothell Way, Kenmore, WA 98028-9400
      View Details
    • Value Estimation by Request
      2,970 SF

      6502 181st St

      MEDICAL BUILDING • 2,970 SF
      6502 181st St, Kenmore, WA 98028-4802
      View Details

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    Similar Nearby for Lease

    • $30 SF/Yr
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      Downtown Kenmore Medical/Professional Office

      Premier medical/professional office space in the heart of Kenmore.
      6610 NE 181St St, Kenmore, WA 98028
      View Details
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      Morrison Building: Executive Office Suite

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      Kenmore Executive Office Suites

      Prime Kenmore Office Space Available
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      View Details
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      Kenmore Retail Space For Rent

      Retail space available in Kenmore, Washington, offering 630 square feet.
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      Kenmore Restaurant Space with Patio

      Second-generation restaurant space in mixed-use development with residences.
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    • $0.45 SF/Yr

      Commercial Land for Lease

      Centrally located commercial land with easy access and paved surface.
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    Kenmore, WA 98028
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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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