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Property profile & analytics
OFF-MARKET
Estimated value
$2,620,000
Investment properties
112 Grand Ave, Bellingham, WA 98225-4463
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-1301129
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1920
Total area
13,250 SF
Lot
0.15 ac (6,534 SF)
Zoning code
CC
APN
380330 171226 0000
UPID
US90-1301129
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
-
Spincycle Yarns (Bike/Boat/Book/etc) Store
-
Bison Bookbinding & Letterpress (Bike/Boat/Book/etc) Store
-
Spincycle Yarns & Supply Co (Bike/Boat/Book/etc) Store
-
Phoebe Wahl & Co. (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.76M
CAP Approach
CAP
$2.59M
Comparable Approach
Comparable
$2.88M
Blend (final)
Blend
$2.62M
Owner & transaction history
San Juan Bellingham LLC · 3 yrs held
San Juan Bellingham LLC
since 2023
Last sale
$2.4M
2 recorded transactions
Zoning & alternative use
CC · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.1M
+11.6%
Retail stores
$3.9M
+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
$2,695,000
ML approach
$2,760,000
CAP Approach
CAP Return
Estimation
6%
$2,800,000
6.5%
$2,585,000
7%
$2,400,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,685,000
Current use
MEDICAL BUILDING
$4,110,000
Change: +12% · Conversion: Easy
RETAIL STORES
$3,885,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$2.62M
Range $2.36M – $2.88M · ±10% · vs last sale $2.40M (Jun 2 2023)
Last sale anchor
$2.40M
Jun 2 2023
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
$198 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$16,027
Tax year 2021
Assessed value
$1,889,017
Assessed 2022
Previous assessed
$1,889,017
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$384,250
Assessed improvement
$1,504,767
Land market value
$384,250
Improvement market value
$1,504,767
Total market value
$1,889,017
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
1920
Heating
SPACE
Cooling
YES
Total area
13,250 SF
Lot
0.15 ac (6,534 SF)
Zoning code
CC
APN
380330 171226 0000
UPID
US90-1301129
Jurisdiction
WHATCOM
Zoning & alternative use
CC · Bellingham, WA
Zoning CC · permitted uses
CC · 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
$3.7M
MEDICAL BUILDING
Est. value
$4.1M
RETAIL STORES
Est. value
$3.9M
COMMERCIAL (GENERAL) Current
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
1920
Heating
SPACE
Cooling
Yes
Lot
0.15 ac
Current owner
From public records · entity-resolved
San Juan Bellingham LLC
Entity
Free & Clear · 3 yrs held
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2023
—
San Juan Bellingham LLC
Janice M Parberry
Warranty Deed
—
Jun 2, 2023
$2,400,000
Janice M Parberry
Parbeerry S INC
Warranty Deed
—
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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