12427 Totem Lake Blvd NE, Kirkland, WA 98034

NNN Retail · Kirkland · Seattle-Bellevue metro, WA

Imagery suggests: retail strip center, appears multi-tenant. 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 AI estimate from public imagery; may be outdated.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 52% of nnn retail buildings in Kirkland (median 6,837 SF), derived from assessor records.

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Building size: 7,629 SF, King County Assessor
Lot size: 22,941 SF, King County Assessor
Year built: 2017, King County Assessor
Stories: 1, King County Assessor
Predominant use: Retail Building, King County Assessor
Assessed value: $4,274,000, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $560.23/SF, derived from assessor records
Lot coverage: 33%, derived from assessor records
Vintage: 2010s vintage
Zoning: TL 4A, King County
County use code: Retail Store
Construction (observed): masonry, AI estimate from public imagery
Parking (observed): surface lot, AI estimate from public imagery

Nearby comparable buildings

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

12026 NE 124th St, Kirkland · 0 mi · 4,526 SF · built 2017 · assessed $607.42/SF
12502 Totem Lake Blvd NE, Kirkland · 0.1 mi · 7,049 SF · built 2017 · assessed $464.87/SF
12421 Totem Lake Blvd NE, Kirkland · 0.1 mi · 12,336 SF · built 2007 · assessed $426.48/SF
12510 120th Ave NE, Kirkland · 0.1 mi · 12,432 SF · built 1979 · assessed $421.20/SF
12501 120th Ave NE, Kirkland · 0.1 mi · 43,016 SF · built 2017 · assessed $301.75/SF
12221 NE 124th St, Kirkland · 0.1 mi · 2,142 SF · built 1971 · assessed $1,046/SF

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Sale history and market context

MakeMe Estimate: $5,184,700 (estimated market value), with a likely range of $4,331,303 to $5,874,217 (half of recent verified sales in this segment landed inside that range). Based on 152 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works.

Last sold: 2017-10-13 for $9,050,000 (recorded arm's-length sale).

Current ownership dates to 2017 (about 9 years) per recorded transfers.

2019-08-12: transfer from Private party to Kirkland City of (non-market transfer), rec. 20190910001396

2017-10-13: $9,050,000 from Madison Totem Lake LLC to Private party, rec. 20171013000262

2016-09-13: $2,800,000 from Basin Investment Group LLP to Madison Totem Lake LLC, rec. 20160915001373

2004-08-04: $400,000 from Emerald City Pizza LLC to Basin Investmetn Group (non-market transfer), rec. 20040820001925

2003-12-31: $400,000 from Private party to Emerald City Pizza LLC, rec. 20031231002510

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 $708,900 (2011) to $4,274,000 (2026), up 503% over 15 years, per county tax rolls. The 2026 roll splits $4,274,000 into $1,491,100 land and $2,782,900 improvements.

Zoning: TL 4A (per King County)

Lot: 22,941 sq ft

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Street surface: Paved

Floor and use mix: Retail Store 7,629 SF (county building sections)

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

Permit history

2017-01-31: Building, New, declared value $700,000 (Complete), permit BNR16-08586

2017-01-27: Other, declared value $6,950 (Complete), permit FIR17-00068

2016-12-08: Building, New, declared value $60,000 (Complete), permit ENR16-03547

2016-11-07: Building, New, declared value $697,770 (Complete), permit BNR16-03544

2016-11-07: Building, New, declared value $22,200 (Complete), permit MNR16-08809

2016-11-07: Building, New, declared value $14,800 (Complete), permit PNR16-08810

2016-10-04: Demolition, declared value $15,000 (Complete), permit DEM16-06968

Source: King County permit records (newest first).