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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Office Spaces
115 Magnolia St 7, Bellingham, WA 98225-4300
Entity Owned
12-yr Hold
Free & Clear
Property ID
US90-3242613
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1912
Total area
3,966 SF
Zoning code
CC
APN
380330 181176 0009
UPID
US90-3242613
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
-
Shew Design Advertising Agency Marketing & Advertising
-
Tamela Roby Marriage Or Relationship Counselor
-
Bellingham Therapeutic Counseling, Deb Shawver, L.C.S.W. Counselor Service Establishment
-
Dorcas Nung LMFT Psychotherapist
-
After Glow Beauty Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$525k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$412k
Blend (final)
Blend
$525k
Owner & transaction history
2710 Mckenzie LLC · 12 yrs held
2710 Mckenzie LLC
since 2013
Last sale
$525,000
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
$525,000
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$525k
Range $473k – $578k · ±10% · vs last sale $525k (Dec 2 2024)
Last sale anchor
$525k
Dec 2 2024
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
$132 / 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
$3,704
Tax year 2021
Assessed value
$429,001
Assessed 2022
Previous assessed
$429,001
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$125,400
Assessed improvement
$303,601
Land market value
$125,400
Improvement market value
$303,601
Total market value
$429,001
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1912
Heating
NONE
Total area
3,966 SF
Zoning code
CC
APN
380330 181176 0009
UPID
US90-3242613
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.
Building & site characteristics
From public records
Year built
1912
Heating
NONE
Current owner
From public records · entity-resolved
2710 Mckenzie LLC
Entity
Free & Clear · 12 yrs held
Mailing address
525 S 39TH ST, BELLINGHAM, WA 98229-2934
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 26, 2013
$315,000
2710 Mckenzie LLC
Peoples Bk
Warranty Deed
—
May 15, 2012
$230,000
Bk Peoples
Bd Service Corp
Trustees Deed
related
—
Jan 16, 2007
$450,280
Luther Building LLC
Artic Rim Investment LLC Series 2
Warranty Deed
$360,000 · Peoples Bank
Apr 27, 2006
—
Arctic Rim Invs LLC Series 2
Hathaway,steven C & Simone M
Quit Claim Deed
related
—
—
—
Steven C Hathaway
—
Deed Of Trust
related
$145,000 · Peoples Bank & Trust
—
—
Steven C Hathaway
—
Deed Of Trust
related
$50,807 · Peoples Bank & Trust
—
—
Steven C Hathaway
—
Deed Of Trust
related
$190,000 · 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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