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Property profile & analytics
OFF-MARKET
Estimated value
$4,760,000
Showrooms
1250 Iowa St Bellingham, WA 98229-5819
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US90-0658424
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2005
Total area
18,776 SF
Lot
1.75 ac (76,361 SF)
Zoning code
LI
APN
380329 176379 0000
UPID
US90-0658424
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
-
Bay City Supply Big Box & Wholesale Store Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.67M
Comparable Approach
Comparable
$5.03M
Blend (final)
Blend
$4.76M
Owner & transaction history
Bay City Investments LLC
Bay City Investments LLC
2 recorded transactions
Zoning & alternative use
LI · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.4M
+19.2%
Office building
$6.6M
+6.1%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$3,970,000
6.5%
$3,665,000
7%
$3,405,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$6,180,000
Current use
RESTAURANT
$7,370,000
Change: +19% · Conversion: Difficult
OFFICE BUILDING
$6,555,000
Change: +6% · Conversion: Easy
MEDICAL BUILDING
$5,825,000
Change: -6% · Conversion: Easy
RETAIL STORES
$5,510,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$4.76M
Range $4.28M – $5.24M · ±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
$254 / 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
$24,651
Tax year 2021
Assessed value
$2,905,409
Assessed 2022
Previous assessed
$2,905,409
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$1,208,248
Assessed improvement
$1,697,161
Land market value
$1,208,248
Improvement market value
$1,697,161
Total market value
$2,905,409
Applied tax rate
100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
2005
Heating
NONE
Cooling
YES
Total area
18,776 SF
Lot
1.75 ac (76,361 SF)
Zoning code
LI
APN
380329 176379 0000
UPID
US90-0658424
Jurisdiction
WHATCOM
Zoning & alternative use
LI · Bellingham, WA
Zoning LI · permitted uses
LI · 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
COMMERCIAL (GENERAL) Current
Est. value
$6.2M
RESTAURANT
Est. value
$7.4M
OFFICE BUILDING
Est. value
$6.6M
MEDICAL BUILDING
Est. value
$5.8M
RETAIL STORES
Est. value
$5.5M
COMMERCIAL (GENERAL) Current
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
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
2005
Heating
NONE
Cooling
Yes
Lot
1.75 ac
Current owner
From public records · entity-resolved
Bay City Investments LLC
Entity
Mailing address
4954 PENNINGTON WAY, BELLINGHAM, WA 98229-2536
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Bay City Investments LLC
—
Deed Of Trust
related
$812,000 · Rural Housing & Community Dev
—
—
Bay City Investments LLC
—
Deed Of Trust
related
$175,000 · Us 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.
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