Property Details

Seller financing available. Rare development opportunity in the heart of Kirkland. The property sits on a 13,200 SF lot currently improved with a 6,000 SF office building and 17 parking stalls. Under Urban Flex (UF) zoning, developers can pursue a mixed-use project up to 45 feet, combining ground-floor retail and upper-level residential, perfectly aligned with Kirkland’s long-term growth strategy.The location offers immediate and long-term upside:• Transit-Oriented Growth – Just blocks from the upcoming NE 85th Street Bus Rapid Transit (BRT) station and redesigned I-405 interchange (completion 2028-2029), the site is poised to capture increased pedestrian and commuter traffic. This major infrastructure investment will create one of the Eastside’s most connected submarkets.• Connectivity & Lifestyle Demand – The property is adjacent to the Cross Kirkland Corridor, a highly utilized walking and biking trail that enhances resident quality of life and supports the City’s sustainability and mobility goals.• Policy & Market Alignment – Kirkland’s K2044 Growth Vision and Capital Improvement Program both prioritize walkable, mixed-use neighborhoods. With strong demographics (median household income over $150,000 in Kirkland*) and limited new supply near Downtown, the site is ideally positioned for multifamily or condo absorption.• Accessibility Advantage – Planned streetscape, pedestrian, and storm system upgrades in the immediate area further enhance desirability, ensuring strong long-term tenant and buyer demand for new product.HIGHLIGHTS:• 13,200 SF lot in desirable Kirkland submarket• Urban Flex (UF) zoning: retail, commercial, residential allowed• 45’ height allowance (ideal for a modern 4-story mixed-use project)• Surrounded by major public infrastructure investment (BRT, I-405, CIP improvements)• Strong Eastside fundamentals: high incomes, tech employment base, and limited walkable housing optionsThis property offers investors and developers the chance to deliver a high-demand, mixed-use destination in a neighborhood set to benefit from billions in public and private investment.TENANT-READY FLEXIBILITYWhile the property offers outstanding redevelopment potential, it is also move-in ready for tenants today, providing near-term income potential and flexibility for owner-users.• Functional Floorplates – The building features 6,000 SF across two floors (3,000 SF each), with separate private entrances for easy multi-tenant configuration or full-building occupancy.• Updated Interiors – Recent improvements make the space suitable for a wide range of uses including professional office, creative workspace, medical, or boutique services.• Abundant Natural Light – Generous window lines throughout both levels create a bright, inviting work environment.• Convenient Parking – A rare 17 surface parking stalls provide ample on-site access for employees and clients.• Excellent Location – Just minutes from Downtown Kirkland and I-405, with seamless connectivity to Bellevue, Redmond, and Seattle.This combination of tenant-ready improvements and redevelopment upside gives investors a dual-track opportunity: generate income now while planning a mixed-use project that unlocks the full potential of Kirkland’s Urban Flex zoning.ZONING at a GLANCE – INVESTOR OPPORTUNITY• Zone: Urban Flex (UF) – Kirkland’s most versatile zoning designation• Development Potential: Up to 45 feet (˜4 stories), allowing a dynamic mix of ground-floor retail or commercial with residential above• Flexible Uses: UF zoning permits commercial, retail, institutional, light industrial, and residential, creating multiple exit strategies for developers and investors• Strategic Restriction: Residential is reserved for upper floors, ensuring active, pedestrian-friendly ground-level uses that enhance long-term value• Future-Proof Location: Designed to support Kirkland’s walkable, transit-oriented growth vision and positioned to benefit from major infrastructure investment, including the NE 85th Street BRT station and I-405 interchange redesignInvestor Takeaway: UF zoning makes this property a rare, high-upside development site. The ability to combine retail, office, and residential in one project provides maximum flexibility, stronger underwriting, and long-term appreciation potential in one of the Eastside’s most supply-constrained, high-demand markets.Disclosure: All information is provided as a courtesy and is deemed reliable but not guaranteed. Buyers are advised to conduct their own due diligence.Ask for the Offering Memorandum.***Conceptual image of new building shown for illustrative purposes only; represents one possible redevelopment scenario under UF zoning.