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Property profile & analytics
OFF-MARKET
Estimated value
$1,725,000
Warehouses
8800 122nd NE Ave, Kirkland, WA 98033
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-1012232
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,250 SF
Lot
2.13 ac (92,952 SF)
Zoning code
LIT
APN
123850-0195
UPID
US90-1012232
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.74M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.73M
Owner & transaction history
Jonesco Investors 2019 LLC · 6 yrs held
Jonesco Investors 2019 LLC
since 2019
7 recorded transactions
Zoning & alternative use
LIT · Kirkland, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$1,885,000
6.5%
$1,740,000
7%
$1,615,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,655,000
Current use
Blend value · Realmo final
$1.73M
Range $1.55M – $1.90M · ±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
$186 / 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
$109,339
Tax year 2022
Assessed value
$13,817,100
Assessed 2022
Previous assessed
$13,817,100
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$2,602,600
Assessed improvement
$11,214,500
Land market value
$2,602,600
Improvement market value
$11,214,500
Total market value
$13,817,100
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
3
Stories
1
Total area
9,250 SF
Lot
2.13 ac (92,952 SF)
Zoning code
LIT
APN
123850-0195
UPID
US90-1012232
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LIT · Kirkland, WA
Zoning LIT · permitted uses
LIT · 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
WAREHOUSE, STORAGE Current
Est. value
$2.7M
WAREHOUSE, STORAGE Current
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
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
3
Lot
2.13 ac
Current owner
From public records · entity-resolved
Jonesco Investors 2019 LLC
Entity
Mailing address
2940 FAIRVIEW AVE E, SEATTLE, WA 98102-3016
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 4, 2019
$14,500,000
Jonesco Investors 2019 LLC
Par 5 Jonesco Business Center LLC
Warranty Deed
$9,000,000 · Heritage Bank
Sep 13, 2017
—
Par 5 108th Street Dev LLC
Par 5 Jonesco Busn Center LLC
Quit Claim Deed
related
—
May 31, 2016
$9,800,000
Par 5 Jonesco Busn Center LLC
Kaminari Properties LLC
Warranty Deed
$5,925,000 · Boeing Emps Cu
Dec 30, 2013
$6,280,000
Kaminari Properties LLC
Jbp Kirkland LLC
Warranty Deed
—
Feb 1, 1999
—
Jbp Kirkland LLC
Jones,michael R & Charlene V
Grant Deed
related
—
Aug 25, 1997
—
Jbp Kirkland LLC
Jbp Properties
Quit Claim Deed
related
$2,520,000 · Seafirst Bank
Aug 8, 1997
$302,400
Jones,michael R & Charlene V
Shiel,howard E & Carole H
Trustees Deed
—
Aug 8, 1997
$308,448
Jones,michael R & Charlene V
Fab Partnership
Trustees Deed
—
Jul 31, 1997
—
Howard E Shiel
Jbp Properties Gp
Grant Deed
related
—
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.
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