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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Office Spaces
1201 11th St Ste 200, Bellingham, WA 98225-7093
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0385976
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1992
Total area
2,788 SF
Zoning code
CC
APN
370201 122117 0004
UPID
US90-0385976
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
-
Judson Plaza Business Service Center Corporate Office
-
Serendipity Discount Store (Bike/Boat/Book/etc) Store
-
Mark Dotson Counselor Physician
-
Cascadia Financial Group Inc Financial Advisor
-
Hoeft David F MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$330k
CAP Approach
CAP
$640k
Comparable Approach
Comparable
$731k
Blend (final)
Blend
$535k
Owner & transaction history
3710 Irongate LLC · 8 yrs held
3710 Irongate LLC
since 2018
4 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
$330,000
CAP Approach
CAP Return
Estimation
6%
$695,000
6.5%
$640,000
7%
$595,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$865,000
Change: -10% · Conversion: Easy
RETAIL STORES
$820,000
Change: -15% · Conversion: Moderate
COMMERCIAL (GENERAL)
$775,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$192 / 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
$3,886
Tax year 2021
Assessed value
$465,082
Assessed 2022
Previous assessed
$465,082
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$66,550
Assessed improvement
$398,532
Land market value
$66,550
Improvement market value
$398,532
Total market value
$465,082
Applied tax rate
111.0000
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
1992
Heating
NONE
Cooling
YES
Total area
2,788 SF
Zoning code
CC
APN
370201 122117 0004
UPID
US90-0385976
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
MEDICAL BUILDING
Est. value
$865,000
RETAIL STORES
Est. value
$820,000
COMMERCIAL (GENERAL)
Est. value
$775,000
MEDICAL BUILDING
RETAIL STORES
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
1992
Heating
NONE
Cooling
Yes
Current owner
From public records · entity-resolved
3710 Irongate LLC
Entity
Mailing address
702 KENTUCKY ST #531, BELLINGHAM, WA 98225-4200
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2018
$400,000
3710 Irongate LLC
Mcdonald,lee E
Warranty Deed
$320,000 · Skagit Bk
May 20, 2010
$1,000,000
Lee E Mcdonald
James Bolster LLC
Warranty Deed
—
May 15, 1998
$831,830
James Bolster Lc
Key Bank NA
Grant Deed
—
Feb 24, 1997
—
Edward Griemsmann
Key Bank Of Puget Sound
Grant Deed
related
—
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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