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Rite Aid 12421-12431 Totem Lake Blvd 11,190 SF Retail Building Kirkland, WA 98034 For Sale
Investment Highlights
- Strategic Location: Adjacent to The Village at Totem Lake—a 360,000 SF lifestyle center anchored by Whole Foods, Trader Joe’s, Lululemon, Sephora
- High Traffic Volume: More than 62,000 vehicles per day at the intersection of Totem Lake Blvd and NE 124th Street.
- Strong Demographics: Over 111,000 residents within a 3-mile radius, with an average household income exceeding $164,000.
- Tight Retail Market: Only 1.5% vacancy in the Totem Lake submarket, reflecting high demand and limited availability.
Executive Summary
Premier retail opportunity at 12421 Totem Lake Blvd NE—a former Rite Aid with unmatched visibility and access in Kirkland’s most dynamic growth hub. This ±11,190 SF freestanding building features a grandfathered double drive-thru—a rare and invaluable asset for drive-thru users in a market where new approvals are nearly impossible.
Located in a high-growth, high-barrier-to-entry neighborhood, this property is ideal for retail, medical, or QSR users seeking a rare opportunity in one of the Eastside’s most desirable locations—backed by strong demographics, built-in foot traffic, and a dynamic retail environment.
Located in a high-growth, high-barrier-to-entry neighborhood, this property is ideal for retail, medical, or QSR users seeking a rare opportunity in one of the Eastside’s most desirable locations—backed by strong demographics, built-in foot traffic, and a dynamic retail environment.
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
11,190 SF
Building Class
C
Year Built
2007
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Lot Size
0.94 AC
Zoning
TL 4A, Kirkland - Commercial
Parking
33 Spaces (2.95 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Security System
- Signage
- Tenant Controlled HVAC
- Drive Thru
- Storage Space
- Monument Signage
- Air Conditioning
- Smoke Detector
Walk Score®
Very Walkable (74)
Nearby Major Retailers
Property Taxes
| Parcel Number | 282605-9138 | Improvements Assessment | $3,106,700 |
| Land Assessment | $2,154,400 | Total Assessment | $5,261,100 |
Property Taxes
Parcel Number
282605-9138
Land Assessment
$2,154,400
Improvements Assessment
$3,106,700
Total Assessment
$5,261,100
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Rite Aid | 12421-12431 Totem Lake Blvd
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