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Property profile & analytics
OFF-MARKET
Estimated value
$1,060,000
Grocery and convenience stores
1220 Central Ave Bellingham, WA 98225-4302
Entity Owned
29-yr Hold
~
Est. High Equity
Property ID
US90-1377370
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1926
Total area
9,920 SF
Lot
0.12 ac (5,227 SF)
Zoning code
C
APN
380330 062207 0000
UPID
US90-1377370
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
-
North Corner Brewing Supply Big Box & Wholesale Store Specialty Food Shop
-
Dairy Distributing Inc Distribution Center Logistics Company
-
BAT Bellingham Artists Together Gallery & Gifts (Bike/Boat/Book/etc) Store
-
Lorna Libert Artist
-
Waterfront Artist Studio Collective Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.06M
Owner & transaction history
Waterfront Alley LLC · 29 yrs held
Waterfront Alley LLC
since 1997
2 recorded transactions
Zoning & alternative use
C · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$107 / 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
$4,257
Tax year 2021
Assessed value
$523,426
Assessed 2022
Previous assessed
$523,426
+0.0% YoY
Effective rate
0.81%
On assessed value
Assessed land
$221,363
Assessed improvement
$302,063
Land market value
$221,363
Improvement market value
$302,063
Total market value
$523,426
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1926
Heating
NONE
Cooling
YES
Total area
9,920 SF
Lot
0.12 ac (5,227 SF)
Zoning code
C
APN
380330 062207 0000
UPID
US90-1377370
Jurisdiction
WHATCOM
Zoning & alternative use
C · Bellingham, WA
Zoning C · permitted uses
C · 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
1926
Heating
NONE
Cooling
Yes
Lot
0.12 ac
Current owner
From public records · entity-resolved
Waterfront Alley LLC
Entity
Mailing address
PO BOX 5943, BELLINGHAM, WA 98227-5943
Ownership since
1997
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 1997
—
Waterfront Alley LLC
—
Grant Deed
related
$136,712 · Bank Of Bellingham
—
—
Waterfront Alley LLC
—
Deed Of Trust
related
$172,000 · Horizon 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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