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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    703 Kirkland Ave Kirkland, WA 98033-6319

    • Industrial properties
    • 5,138 SF
    • 2.21 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1508604
    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

    • The Refurb / Furniture Store

    Property Details for 703 Kirkland Ave

    Year built
    1981
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.21 lot acres
    Property size
    5,138 SF
    Zone code
    LIT
    Property type
    Industrial properties
    Property subtype
    Loft space
    APN
    082505-9234
    APU
    825059234

    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
    Kirkland
    County
    King
    State
    Washington
    Longitude
    -122.195
    Latitude
    47.6745
    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
    $68,954
    $2,888,200
    $5,671,400
    $8,559,600
    -
    $2,888,200
    $5,671,400
    $8,559,600

    Comparable in this City

    • Value Estimation
      $1,905,000
      8,856 SF

      1129 8th St

      INDUSTRIAL LOFT BUILDING • 8,856 SF
      1129 8th St, Kirkland, WA 98033
      View Details
    • Value Estimation
      $1,720,000
      11,136 SF

      1120 8th St

      INDUSTRIAL LOFT BUILDING • 11,136 SF
      1120 8th St, Kirkland, WA 98033-5666
      View Details
    • Value Estimation
      $1,130,000
      7,739 SF

      1110 8th St

      INDUSTRIAL LOFT BUILDING • 7,739 SF
      1110 8th St, Kirkland, WA 98033-5666
      View Details
    • Value Estimation by Request
      0.31 Acres

      11520 120th NE Ave

      HEAVY INDUSTRIAL • 0.31 Acres
      11520 120th NE Ave, Kirkland, WA 98033
      View Details
    • Value Estimation
      $2,325,000
      15,466 SF

      101 10th S St

      INDUSTRIAL (GENERAL) • 15,466 SF
      101 10th S St, Kirkland, WA 98033-6760
      View Details
    • Value Estimation by Request
      838 SF

      4503 Lk Washington NE Blvd

      HEAVY INDUSTRIAL • 838 SF
      4503 Lk Washington NE Blvd, Kirkland, WA 98033-7628
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,667 SF

      Kirkland Industrial Property For Sale

      Industrial property available for purchase in Kirkland, Washington.
      221 10Th St S, Kirkland, WA 98033
      View Details
    • $3,500,000
      6,000 SF

      Kirkland Development Opportunity For Sale

      Rare Kirkland development opportunity near transit with flexible zoning.
      1003 7Th Ave, Kirkland, WA 98033
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    • $13,800,000

      Kirkland Waterfront Development Opportunity

      Rare waterfront lot zoned for luxury townhomes or condos.
      6211 Lake Washington Blvd, Kirkland, WA 98033
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    • $1,540,000

      New Kirkland Cottage with Luxury

      New three-bedroom cottage in Kirkland's Forbes Creek neighborhood.
      10511 NE 112Th St, Kirkland, WA 98033
      View Details
    • $2,698,990
      2,836 SF

      New Contemporary Home in Moss Bay

      Stunning new home near Kirkland waterfront with lake and mountain views.
      207 2Nd Ave S, Kirkland, WA 98033
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    • $1,285,600

      Kirkland Development Opportunity on .23 Acres

      .23 acre lot in North Rose Hill with development potential.
      12856 NE 91St St, Kirkland, WA 98033
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    Similar Nearby for Lease

    • Contact for pricing
      23,381 SF

      Kirkland Industrial Space Available

      Industrial property available for rent in Kirkland, Washington.
      11155 120Th Ave NE, Kirkland, WA 98033
      View Details
    • Contact for pricing
      1,920 SF

      Kirkland Industrial Space Available

      Industrial property available for rent in Kirkland, Washington.
      11005-11132 117Th Pl NE, Kirkland, WA 98033
      View Details
    • $26 SF/Yr
      28,005 SF

      Prime Kirkland Office Space

      Modern Offices, Flexible Suites Available
      11232 120Th Ave, Kirkland, WA 98033
      View Details
    • $45 SF/Yr
      1,618 SF

      Downtown Kirkland Retail Space Available

      Retail space for lease in downtown Kirkland's mixed-use property.
      111-117 Lake St South, Kirkland, WA 98033
      View Details
    • $45 SF/Yr
      10,231 SF

      Downtown Kirkland Mixed-Use Property

      Mixed-use property with retail and apartments in downtown Kirkland.
      111 Lake St S, Kirkland, WA 98033
      View Details
    • $38 SF/Yr
      3,314 SF

      Mixed-Use Building in Downtown Kirkland

      Retail space in a mixed-use building with high visibility.
      345 Kirkland Ave, Kirkland, WA 98033
      View Details
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    703 Kirkland Ave
    Kirkland, WA 98033-6319
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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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