Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8423 114th NE Ave Kirkland, WA 98033
    Back to Search
    Property profile & analytics

    8423 114th NE Ave, Kirkland, WA 98033

    View on Map
    • Commercial land
    • 0.54 lot acres
    Off-Market
    Property ID
    US90-1961190
    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

    • Commercial land

    Property Details for 8423 114th NE Ave

    Lot size
    0.54 lot acres
    Zone code
    PLA 5D
    Property type
    Commercial land
    APN
    052505-9072
    APU
    525059072

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 1, 2015 — Kirkland Way Storage LLC Kirkland Way Inv Assocs LLC Quit Claim Deed · related $9.4M · Miscellaneous Ins Co
    Apr 3, 2012 $7,325,000 Kirkland Way Storage LLC Kirkland Way Investment Associates Warranty Deed $9.2M · Washington Federal
    Jun 18, 2008 — Kirkland Way Invs Assocs LLC Kirkland Way Investments Quit Claim Deed · related $3.4M · American Equity Inv Life Ins
    Sep 23, 1998 — Way Investments Kirkland Kirkland Way Investors Quit Claim Deed · related $1.8M · National Mortgage Co
    Aug 31, 1992 $1,700,000 Way Inv Kirkland Puget Grant Deed $1.4M · Puget Sound National Bank

    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
    -122.19
    Latitude
    47.679
    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
    $3,325
    $210,400
    $0.00
    $210,400
    -
    $210,400
    $0.00
    $210,400

    Comparable in this City

    • Value Estimation by Request
      0.02 Acres

      Kirkland, WA 98033

      VACANT COMMERCIAL LAND
      Kirkland, WA 98033
      View Details
    • Value Estimation by Request
      0.10 Acres

      Kirkland, WA 98033

      VACANT COMMERCIAL LAND
      Kirkland, WA 98033
      View Details
    • Value Estimation by Request
      0.02 Acres

      1200 1st St

      VACANT COMMERCIAL LAND
      1200 1st St, Kirkland, WA 98033-5414
      View Details
    • Value Estimation by Request
      0.78 Acres

      Kirkland, WA 98033

      VACANT COMMERCIAL LAND
      Kirkland, WA 98033
      View Details
    • Value Estimation by Request
      0.13 Acres

      Kirkland, WA 98033

      VACANT COMMERCIAL LAND
      Kirkland, WA 98033
      View Details
    • Value Estimation by Request
      0.56 Acres

      8051 118th NE Ave

      VACANT COMMERCIAL LAND
      8051 118th NE Ave, Kirkland, WA 98033-8031
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,000 SF

      Kirkland Development Opportunity For Sale

      Rare Kirkland development opportunity near transit with flexible zoning.
      1003 7Th Ave, Kirkland, WA 98033
      View Details
    • $2,100,000
      3,700 SF

      Medical Commercial Condominium Opportunity

      Medical commercial condominium for sale, suitable for owner/user or investment.
      11415 Slater Ave NE, Kirkland, WA 98033
      View Details
    • Contact for pricing
      34,250 SF

      Kirkland Lakeview Office Building For Sale

      34,240 SF office property in Kirkland, Washington.
      6710 108Th Ave NE, Kirkland, WA 98033
      View Details
    • $7,500,000

      Kirkland Retail Building with Renovation

      Downtown Kirkland retail building featuring recent renovations and historic charm.
      116 Central Way, Kirkland, WA 98033
      View Details
    • Contact for pricing

      Kirkland Office Branding Opportunity

      Office building with prominent branding and signage opportunities.
      229 8Th St South, Kirkland, WA 98033
      View Details
    • $4,950,000

      Kirkland Office Building For Sale

      High-quality office asset in Kirkland, Washington, near major employers.
      903 5Th Ave, Kirkland, WA 98033
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Kirkland Land For Rent

      Land available for rent in Kirkland, Washington.
      NE 112Th St, Kirkland, WA 98033
      View Details
    • $30 SF/Yr

      Kirkland Office Space For Lease

      Second floor office suite near downtown Kirkland with covered parking.
      1029 Market St, 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
    • $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
    • $32,247
      9,674 SF

      Kirkland Office Space Available

      Market-ready office suite with private offices and open space.
      11255 Kirkland Way, Kirkland, WA 98033
      View Details
    • $16,848 /Mo
      702 SF

      Kirkland Office Space For Rent

      Second-floor office space with ample parking and convenient location.
      11200 Kirkland Way, Kirkland, WA 98033
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8423 114th NE Ave
    Kirkland, WA 98033
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    8423 114th NE Ave, Kirkland, WA, 98033
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!