12221 120th Ave NE, Kirkland, WA 98034

NNN Retail · Kirkland · Seattle-Bellevue metro, WA

Imagery suggests: supermarket. AI estimate from public imagery. In recent public imagery (2026-06), the building appears well maintained. AI estimate from public imagery; may be outdated.

One of 149 reachable nnn retail buildings in Kirkland. Larger than 99% of nnn retail buildings in Kirkland (median 6,837 SF), derived from assessor records.

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Building size: 164,277 SF, King County Assessor
Lot size: 515,578 SF, King County Assessor
Year built: 1980, King County Assessor
Stories: 1, King County Assessor
Predominant use: Retail, King County Assessor
Assessed value: $29,262,300, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $178.13/SF, derived from assessor records
Lot coverage: 32%, derived from assessor records
Vintage: 1980s vintage
Zoning: TL 4B, King County
County use code: Retail(Discount)
Construction (observed): steel glass, AI estimate from public imagery
Parking (observed): surface lot, AI estimate from public imagery
Frontage (observed): mid block, AI estimate from public imagery

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

12301 120th Ave NE, Kirkland · 0.1 mi · 20,081 SF · built 1990 · assessed $504.41/SF
12026 NE 124th St, Kirkland · 0.2 mi · 4,526 SF · built 2017 · assessed $607.42/SF
12427 Totem Lake Blvd NE, Kirkland · 0.3 mi · 7,629 SF · built 2017 · assessed $560.23/SF
12502 Totem Lake Blvd NE, Kirkland · 0.3 mi · 7,049 SF · built 2017 · assessed $464.87/SF
11616 120th Ave NE, Kirkland · 0.3 mi · 4,355 SF · built 1981 · assessed $411.71/SF
12412 116th Ave NE, Kirkland · 0.3 mi · 1,798 SF · built 1970 · assessed $1,944/SF

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Sale history and market context

MakeMe Estimate: $34,447,944 (estimated market value), with a likely range of $25,246,648 to $40,287,512 (half of recent verified sales in this segment landed inside that range). Based on 28 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works.

Current ownership dates to 2012 (about 14 years) per recorded transfers.

2012-04-18: $18,500,000 from Pacific Realty Associates LP to Fred Meyer Stores INC (part of a 2-parcel sale; price is the whole deal), rec. 20120418000980

2011-03-10: transfer from Pacific Realty Associates LP to Kirkland City of (non-market transfer), rec. 20110412000091

2005-09-08: $12,180,426 from Kirkland Center LTD to Pacific Realty Associates LP (part of a 2-parcel sale; price is the whole deal), rec. 20050908000579

Source: King County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

Solid line: county appraised value per King County tax rolls. Shaded range: our modeled estimate for each year, built from recorded arm's-length sales in the building's segment; years without enough sales stay unmodeled. Dots: recorded arm's-length sales. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $10,962,800 (2011) to $29,262,300 (2026), up 167% over 15 years, per county tax rolls. The 2026 roll splits $29,262,300 into $25,778,900 land and $3,483,400 improvements.

Zoning: TL 4B (per King County)

Lot: 515,578 sq ft

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Street surface: Paved

Floor and use mix: Warehouse Discount Store 164,277 SF (county building sections)

County districts report (schools, fire, sewer, council; on kingcounty.gov)

Permit history

2026-03-11: Other, declared value $2,288,455, permit BNR26-01211

2020-04-07: Building, New, declared value $1,370,000 (Complete), permit BNR20-00146

2017-09-19: Building, New, declared value $150,000 (Complete), permit BNR17-05660

2011-01-20: Remodel, declared value $11,088,102 (Complete), permit BLD10-00414

2010-12-21: Building, New, declared value $500,000 (Complete), permit BLD10-00313

2002-08-21: Remodel, declared value $95,000 (Complete), permit BLD02-00870

2000-04-24: Remodel, declared value $1,500,000 (Complete), permit BLD9901499

Source: King County permit records (newest first).