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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Banks
121 Holly St, Bellingham, WA 98225-4310
Individually Owned
Free & Clear
Property ID
US90-1246404
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1977
Total area
10,974 SF
Lot
1.26 ac (55,016 SF)
Zoning code
CC
APN
380330 135132 0000
UPID
US90-1246404
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
-
Financial Advisors | U.S. Bancorp Investments Financial Advisor
-
U.S. Bank Branch Bank Loan Service
-
U.S. Bank-Rachel Patrick-Mortgage Loan Officer Loan Service Bank
-
U.S. Bank – Wealth Management Banker: Keegan Strandness Financial Advisor
-
Amy Baker - Caliber Home Loans (formerly US Bank Home Loans) Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$605k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.33M
Blend (final)
Blend
$965k
Owner & transaction history
WEST ONE BANK WASHINGTON
WEST ONE BANK WASHINGTON
Zoning & alternative use
CC · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.4M
+61.3%
Auto repair, garage
$1.3M
+47.6%
Commercial (general)
$1.2M
+44.7%
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
$605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$850,000
Current use
RESTAURANT
$1,370,000
Change: +61% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,255,000
Change: +48% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,230,000
Change: +45% · Conversion: Difficult
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±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
$88 / 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
$40,992
Tax year 2021
Assessed value
$4,748,222
Assessed 2022
Previous assessed
$4,748,222
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$2,233,688
Assessed improvement
$2,514,534
Land market value
$2,233,688
Improvement market value
$2,514,534
Total market value
$4,748,222
Applied tax rate
109.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1977
Heating
NONE
Cooling
YES
Total area
10,974 SF
Lot
1.26 ac (55,016 SF)
Zoning code
CC
APN
380330 135132 0000
UPID
US90-1246404
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
FINANCIAL BUILDING Current
Est. value
$850,000
RESTAURANT
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.2M
FINANCIAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1977
Heating
NONE
Cooling
Yes
Lot
1.26 ac
Current owner
From public records · entity-resolved
WEST ONE BANK WASHINGTON
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 8247, BOISE, ID 83707-2247
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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