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Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Warehouses
1082 Telegraph Rd Bellingham, WA 98226-8710
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0026350
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1986
Total area
6,762 SF
Lot
2 ac (87,120 SF)
Zoning code
PRM4.3
APN
380318 480450 0000
UPID
US90-0026350
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Storage Solutions Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$920k
Comparable Approach
Comparable
$631k
Blend (final)
Blend
$970k
Owner & transaction history
Serena Holdings LLC · 7 yrs held
Serena Holdings LLC
since 2019
5 recorded transactions
Zoning & alternative use
PRM4.3 · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.4M
+4.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bellingham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bellingham submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$995,000
6.5%
$920,000
7%
$850,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,365,000
Current use
INDUSTRIAL (GENERAL)
$1,420,000
Change: +4% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,170,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$143 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$2,080
Tax year 2024
Assessed value
$1,311,722
Assessed 2023
Previous assessed
$1,032,853
+27.0% YoY
Effective rate
0.16%
On assessed value
Assessed land
$1,044,153
Assessed improvement
$267,569
Land market value
$1,044,153
Improvement market value
$267,569
Total market value
$1,311,722
Applied tax rate
100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1986
Heating
FORCED AIR
Cooling
YES
Buildings
2
Bathrooms
1
Total area
6,762 SF
Lot
2 ac (87,120 SF)
Zoning code
PRM4.3
APN
380318 480450 0000
UPID
US90-0026350
Jurisdiction
WHATCOM
Zoning & alternative use
PRM4.3 · Bellingham, WA
Zoning PRM4.3 · permitted uses
PRM4.3 · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bellingham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1986
Heating
FORCED AIR
Cooling
Yes
Buildings
2
Bathrooms
1
Lot
2 ac
Current owner
From public records · entity-resolved
Serena Holdings LLC
Entity
Mailing address
8001 BLAINE RD, BLAINE, WA 98230-9725
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2019
$1,077,192
Serena Holdings LLC
R & J Lecocq Family LP
Warranty Deed
related
$890,000 · R & J Lecocq Family LP
Apr 7, 2015
—
R & J Lecocq Family LLP
Lecocq Robert C & Joan A
Quit Claim Deed
—
Sep 7, 2005
$800,000
Robert Lecocq
Isaacson,edward C & Gloria J
Warranty Deed
$456,500 · Edward C & Gloria J Isaacson
—
—
Robert C Lecocq
—
Deed Of Trust
related
$356,358 · Whidbey Island Bank
—
—
Robert C Lecocq
—
Deed Of Trust
related
$725,000 · Whidbey Island Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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