Bars & Pubs
Entity Owned
10-yr Hold
~
Est. High Equity
Entity Owned 
For Sale
Contact for pricing
114 W Holly St, Bellingham, WA 98225
View Listing →
Property summary
AI-generated overview
This exceptional Bellingham commercial property, located at 114 W Holly St, offers 14,500 square feet of versatile space ideal for retail, traditional office, or coworking uses. Situated in the heart of downtown Bellingham, WA (zip code 98225), this single-tenant property boasts a prime location with frontage on Holly Street and an adjacent alley. The building, constructed in 1925, features a unique character with high ceilings, exposed brick, and hardwood floors, spread across three levels: approximately 7,000+ square feet on the main level, 6,000 square feet on the lower level, and 1,500 square feet on a mezzanine. Previously occupied by Golden Rule and Sports Chalet, and currently housing Opus dance studio, this space offers significant flexibility. It could be leased as a single large space or potentially subdivided to accommodate multiple tenants. The property includes a new HVAC system (installed in 2018). While on-street parking is available, the building benefits from its proximity to the downtown Parkade. The property is zoned C and has APN 3803301701470000. A special summer leasing incentive is available: the first year's rent is free
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
1925
Total area
6,820 SF
Lot
0.16 ac (6,874 SF)
Zoning code
CC
APN
380330 170147 0000
UPID
US90-0126404
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$365k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$729k
Blend (final)
Blend
$545k
Owner & transaction history
since 2015
7 recorded transactions
Zoning & alternative use
CC · Bellingham, WA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 3 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$545k
Value range
$491k – $600k
±10% around blend
Estimated value / SF
$80 / SF
Confidence
Low
3 county-verified comps
Property data
75
Market benchmarks
67
Comparable evidence
30
Income certainty
100
$491k
blend $545k
$600k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
6,820 SF
Lot area
0.16 ac
Year built
1925
APN
380330 170147 0000
Assessed value
$1,477,158
Annual tax
$12,533
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$12,533
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.25M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.4 mi away · 4,902 SF
17.8 mi away · 4,923 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$545k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 21 sales
$392
-80%
County 46 sales
$340
-76%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $80/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.64M
Move the market yield to see immediate price impact.
Value / SF
$387
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$166k
$3.33M
$2.38M
$1.85M
$185k
$3.70M
$2.64M
$2.05M
$203k
$4.07M
$2.91M
$2.26M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$889k
0.7 mi · Oct 2025 · $148/SF
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Tax billed
$12,533
Tax year 2021
Assessed value
$1,477,158
Assessed 2022
Previous assessed
$1,477,158
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$478,500
Assessed improvement
$998,658
Land market value
$478,500
Improvement market value
$998,658
Total market value
$1,477,158
Applied tax rate
100.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Bars & Pubs
Use group
BAR, TAVERN
Status
For Sale
Year built
1925
Heating
NONE
Cooling
YES
Total area
6,820 SF
Lot
0.16 ac (6,874 SF)
Zoning code
CC
APN
380330 170147 0000
UPID
US90-0126404
Jurisdiction
WHATCOM
Zoning & alternative use
CC · Bellingham, WAZoning CC · permitted uses
CC · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1925
Heating
NONE
Cooling
Yes
Lot
0.16 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CC
Jurisdiction
Bellingham, WA
Recorded code
CC
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
