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Property profile & analytics
OFF-MARKET
Estimated value
$925,000
Investment properties
109 Samish Way, Bellingham, WA 98225-6022
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-2840281
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2019
Total area
4,392 SF
Lot
0.38 ac (16,435 SF)
Zoning code
C
APN
380331 443115 0000
UPID
US90-2840281
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
-
Samish Station Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$855k
Comparable Approach
Comparable
$715k
Blend (final)
Blend
$925k
Owner & transaction history
Samish Station Bellingham LLC · 4 yrs held
Samish Station Bellingham LLC
since 2022
5 recorded transactions
Zoning & alternative use
C · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.5M
+23.5%
Medical building
$1.4M
+11.6%
Retail stores
$1.3M
+5.5%
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%
$930,000
6.5%
$855,000
7%
$795,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,220,000
Current use
OFFICE BUILDING
$1,510,000
Change: +24% · Conversion: Easy
MEDICAL BUILDING
$1,360,000
Change: +12% · Conversion: Easy
RETAIL STORES
$1,290,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$925k
Range $833k – $1.02M · ±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
$211 / 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
$9,042
Tax year 2024
Assessed value
$1,162,963
Assessed 2023
Previous assessed
$1,237,195
-6.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$948,648
Assessed improvement
$214,315
Land market value
$948,648
Improvement market value
$214,315
Total market value
$1,162,963
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2019
Heating
NONE
Cooling
YES
Buildings
2
Total area
4,392 SF
Lot
0.38 ac (16,435 SF)
Zoning code
C
APN
380331 443115 0000
UPID
US90-2840281
Jurisdiction
WHATCOM
Zoning & alternative use
C · Bellingham, WA
Zoning C · permitted uses
C · 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
COMMERCIAL (GENERAL) Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
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
2019
Heating
NONE
Cooling
Yes
Buildings
2
Lot
0.38 ac
Current owner
From public records · entity-resolved
Samish Station Bellingham LLC
Entity
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
May 13, 2022
—
Samish Station Bellingham LLC
Samish Station LLC
Intrafamily Transfer
related
$11,500,000 · Pacific Premier Bank
Nov 24, 2015
—
Cap Bellingham II LLC
Cap Bellingham LLC
Quit Claim Deed
related
—
Oct 2, 2014
$1,250,000
Cap Bellingham LLC
Ernst Trust Washington LLC
Grant Deed
related
$5,496,244 · First Citizens Bk
Aug 22, 2012
—
Ernst Trust Washington LLC
Samish Centre LLC
Quit Claim Deed
related
—
—
—
Samish Station LLC
—
Deed Of Trust
related
$6,020,000 · Idaho Ctrl Cu
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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