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Property profile & analytics
FOR SALE
Drug stores
1195 Boblett St Blaine, WA 98230
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-2061300
For Sale
1 / 4
$7,677,728
1195 Boblett St, Blaine, WA 98230
View Listing →
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2014
Total area
17,214 SF
Lot
1.94 ac (84,332 SF)
Zoning code
MA
APN
400106 317420 0000
UPID
US90-2061300
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
-
Rite Aid Pharmacy Pharmacy
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Rite Aid Pharmacy
-
higi Physician
-
Rite Aid Photo Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.16M
Comparable Approach
Comparable
$2.34M
Blend (final)
Blend
$3.12M
Owner & transaction history
Mk-menlo Property Owner LLC · 7 yrs held
Mk-menlo Property Owner LLC
since 2019
1 recorded transaction
Zoning & alternative use
MA · Blaine, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.0M
+16.0%
Office building
$5.0M
+15.6%
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 Blaine submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Blaine 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%
$3,425,000
6.5%
$3,160,000
7%
$2,935,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,330,000
Current use
COMMERCIAL (GENERAL)
$5,025,000
Change: +16% · Conversion: Easy
OFFICE BUILDING
$5,005,000
Change: +16% · Conversion: Easy
Blend value · Realmo final
$3.12M
Range $2.81M – $3.43M · ±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
$181 / 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
$30,937
Tax year 2021
Assessed value
$3,966,196
Assessed 2022
Previous assessed
$3,966,196
+0.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$1,265,235
Assessed improvement
$2,700,961
Land market value
$1,265,235
Improvement market value
$2,700,961
Total market value
$3,966,196
Applied tax rate
300.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
For Sale
Year built
2014
Heating
NONE
Cooling
YES
Total area
17,214 SF
Lot
1.94 ac (84,332 SF)
Zoning code
MA
APN
400106 317420 0000
UPID
US90-2061300
Jurisdiction
WHATCOM
Zoning & alternative use
MA · Blaine, WA
Zoning MA · permitted uses
MA · Blaine, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Blaine. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.3M
COMMERCIAL (GENERAL)
Est. value
$5.0M
OFFICE BUILDING
Est. value
$5.0M
RETAIL STORES Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2014
Heating
NONE
Cooling
Yes
Lot
1.94 ac
Current owner
From public records · entity-resolved
Mk-menlo Property Owner LLC
Entity
Mailing address
1720 PEACHTREE ST NW STE #600, ATLANTA, GA 30309-2450
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 16, 2019
—
Mk-menlo Property Owner LLC
—
Grant Deed
related
$139,666,488 · Wells Fargo Bk
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.
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?”
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