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Property profile & analytics
FOR LEASE
Retail space
114 W Magnolia St Bellingham, WA 98225
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-0823726
For Lease
1 / 6
$6,600/Mo
114 W Magnolia St, Bellingham, WA 98225
View Listing →
Property summary
AI-generated overview
This 6,655 square foot office building, located at 114 W. Magnolia St. in Bellingham, WA 98225, offers executive and traditional office spaces within Whatcom County's central business district. Originally built in 1929 and renovated in 1999, the Crown Plaza Executive Suites provide a blend of historic charm and modern amenities. Currently, 150 square feet of office space is immediately available, with a minimum divisible space of 150 square feet. The building features a welcoming reception area with a receptionist to greet clients, handle calls, and manage mail. Tenants enjoy access to a full kitchen/breakroom, conference rooms, a printer/copier, and guest parking. High-speed fiber internet and Wi-Fi are provided. Offices boast ample natural light with beautiful city, bay, or mountain views through large windows. The building is ADA-accessible and climate-controlled with 24/7 access. The average office size is approximately 10 x 12 feet.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1915
Total area
5,500 SF
Lot
0.13 ac (5,502 SF)
Zoning code
CC
APN
380330 220139 0000
UPID
US90-0823726
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
-
Peek-A-Bump Ultrasound Medical Clinic
-
Finestrino Film Co. Film Production Television Studio
-
Beach Fort Media Film Production Television Studio
-
Barker Martin, P.S. Law Firm
-
Buron Inc Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.01M
Comparable Approach
Comparable
$1.28M
Blend (final)
Blend
$980k
Owner & transaction history
Hall Properties LLC · 6 yrs held
Hall Properties LLC
since 2020
7 recorded transactions
Zoning & alternative use
CC · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$1,095,000
6.5%
$1,010,000
7%
$940,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,615,000
Current use
COMMERCIAL (GENERAL)
$1,530,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$980k
Range $882k – $1.08M · ±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
$178 / 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
$8,135
Tax year 2021
Assessed value
$958,844
Assessed 2022
Previous assessed
$958,844
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$382,800
Assessed improvement
$576,044
Land market value
$382,800
Improvement market value
$576,044
Total market value
$958,844
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1915
Heating
NONE
Cooling
YES
Total area
5,500 SF
Lot
0.13 ac (5,502 SF)
Zoning code
CC
APN
380330 220139 0000
UPID
US90-0823726
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
RETAIL STORES Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1915
Heating
NONE
Cooling
Yes
Lot
0.13 ac
Current owner
From public records · entity-resolved
Hall Properties LLC
Entity
Mailing address
1155 N STATE ST STE #620, BELLINGHAM, WA 98225-5024
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 29, 2022
—
Hall Properties LLC
—
Deed
related
$1,000,000 · First Fed Bank
Jan 22, 2020
—
Hall Properties LLC
Daylight Properties LLC
Warranty Deed
related
—
Dec 31, 2019
$11,100,000
Crown Plaza Corp
Bellingham Crown Plaza LLC
Warranty Deed
related
—
May 30, 2017
—
Bellingham Crown Plaza LLC
—
Deed
related
$5,475,000 · Heritage Bk
Nov 27, 2007
—
Daylight Properties LLC
Hall,robert K
Warranty Deed
—
Apr 11, 2003
$290,850
Robert K Hall
Landcastle,gerald & Sharon
Grant Deed
$76,532 · Horizon Bank
May 12, 1998
$425,000
Robert K Hall
Smith,charlotte R
Grant Deed
$304,500 · Bank Of Bellingham
—
—
Robert K Hall
—
Deed Of Trust
related
$401,250 · Whatcom State Bank
—
—
Daylight Properties LLC
—
Deed Of Trust
related
$937,500 · First Fed'l S&l Assoc/port Ang
—
—
Robert K Hall
—
Deed Of Trust
related
$498,750 · Banner Bank
—
—
Daylight Properties LLC
—
Deed Of Trust
related
$630,000 · Zions First National 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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