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

    Kirkland, WA 98034

    • Commercial land
    • 1,521 SF
    • 0.58 lot acres
    OFF-MARKET
    Last Sale
    Dec 30, 2021
    $1,550,000
    Value Estimations
    $1,540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0712586
    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

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details

    Year built
    1971
    Construction
    STEEL FRAME
    Lot size
    0.58 lot acres
    Property size
    1,521 SF
    Zone code
    BC 1
    Property type
    Commercial land
    APN
    192605-9157
    APU
    1926059157

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,670,000
      ML approach
      $1,630,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,310,000
      Market price range: $305k - $1.48M

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

    Location Insight

    • Map
    • Local Demand
    City
    Kirkland
    County
    King
    State
    Washington
    Longitude
    -122.208
    Latitude
    47.7188
    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
    $19,693
    $1,018,600
    $0.00
    $1,018,600
    -
    $1,018,600
    $0.00
    $1,018,600

    Comparable in this City

    • Value Estimation by Request
      0.10 Acres

      116th St

      VACANT COMMERCIAL LAND • 0.10 Acres
      116th St, Kirkland, WA 98034
      View Details
    • Value Estimation by Request
      1.00 Acres

      13100 121st NE Way

      VACANT COMMERCIAL LAND • 1.00 Acres
      13100 121st NE Way, Kirkland, WA 98034-3000
      View Details
    • Value Estimation
      $830,000
      0.85 Acres

      Kirkland, WA 98034

      VACANT COMMERCIAL LAND • 0.85 Acres
      Kirkland, WA 98034
      View Details
    • Value Estimation by Request
      0.18 Acres

      12004 Juanita NE Dr

      VACANT COMMERCIAL LAND • 0.18 Acres
      12004 Juanita NE Dr, Kirkland, WA 98034-3431
      View Details
    • Value Estimation by Request
      0.32 Acres

      Totem Lk Way

      VACANT COMMERCIAL LAND • 0.32 Acres
      Totem Lk Way, Kirkland, WA 98034
      View Details
    • Value Estimation by Request
      7.46 Acres

      Kirkland, WA 98034

      VACANT COMMERCIAL LAND • 7.46 Acres
      Kirkland, WA 98034
      View Details

    Similar Nearby for Sale

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      Kirkland Commercial Land For Sale

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      Pending

      Kirkland Commercially Zoned Investment Property

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      Kirkland Commercially Zoned Investment Opportunity

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      Kirkland Land with Views

      Land parcel in Totem Lake Business District with 360-degree views.
      11805 NE 116Th St, Kirkland, WA 98034
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      Development-Ready Lots in Kirkland

      Four lots ideal for DADUs, cottage housing, or SFRs.
      13111 NE 134Th Pl, Kirkland, WA 98034
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      Kirkland Development-Ready Land Opportunity

      Four lots suitable for DADUs, cottage housing, or single-family residences.
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    Similar Nearby for Lease

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      57,146 SF

      Kirkland Secured Storage Yard

      Secured, paved, and lit storage yard for lease in Kirkland.
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    • $28,573
      57,146 SF

      Kirkland Storage Yard for Lease

      Secured, paved, and lit storage yard available for lease.
      12633 Willows Rd NE, Kirkland, WA 98034
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      Kirkland Land For Rent

      Land available for rent in Kirkland, Washington.
      NE 112Th St, Kirkland, WA 98034
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    • Sponsored
      Contact for pricing

      WA, Kirkland - Corporate Center

      Discover many ways to work your way in WA, Kirkland - Corporate Center
      11335 122Nd Way, Kirkland, WA 98034
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      Kirkland Warehouse with Office Space

      9,125 SF warehouse with office space available for lease.
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      3,739 SF

      Kirkland Retail Space For Lease

      Ground-floor retail space near Downtown Kirkland, up to 3,739 SF.
      11718 97Th Ln NE, Kirkland, WA 98034
      View Details
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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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