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Property profile & analytics
OFF-MARKET
Estimated value
$890,000
Warehouses
1295 Bakerview Rd Bellingham, WA 98226-9145
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0375230
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1976
Total area
1,955 SF
Lot
0.47 ac (20,499 SF)
Zoning code
PRM4.3
APN
380318 542555 0000
UPID
US90-0375230
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
-
Telenet Technologies LLC Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$925k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$589k
Blend (final)
Blend
$890k
Owner & transaction history
Institute For Washington Future · 4 yrs held
Institute For Washington Future
since 2022
Last sale
$900,000
5 recorded transactions
Zoning & alternative use
PRM4.3 · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$680,000
+73.1%
Medical building
$605,000
+53.8%
Commercial (general)
$585,000
+48.4%
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
$835,000
ML approach
$925,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$680,000
Change: +73% · Conversion: Difficult
MEDICAL BUILDING
$605,000
Change: +54% · Conversion: Difficult
COMMERCIAL (GENERAL)
$585,000
Change: +48% · Conversion: Difficult
RETAIL STORES
$575,000
Change: +45% · Conversion: Moderate
Blend value · Realmo final
$890k
Range $801k – $979k · ±10% · vs last sale $900k (Jan 28 2022)
Last sale anchor
$900k
Jan 28 2022
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
$455 / 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
$3,595
Tax year 2021
Assessed value
$548,392
Assessed 2022
Previous assessed
$548,392
+0.0% YoY
Effective rate
0.66%
On assessed value
Assessed land
$327,180
Assessed improvement
$221,212
Land market value
$327,180
Improvement market value
$221,212
Total market value
$548,392
Applied tax rate
100.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1976
Heating
NONE
Cooling
YES
Total area
1,955 SF
Lot
0.47 ac (20,499 SF)
Zoning code
PRM4.3
APN
380318 542555 0000
UPID
US90-0375230
Jurisdiction
WHATCOM
Zoning & alternative use
PRM4.3 · Bellingham, WA
Zoning PRM4.3 · permitted uses
PRM4.3 · 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
OFFICE BUILDING
Est. value
$680,000
MEDICAL BUILDING
Est. value
$605,000
COMMERCIAL (GENERAL)
Est. value
$585,000
RETAIL STORES
Est. value
$575,000
OFFICE BUILDING
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1976
Heating
NONE
Cooling
Yes
Lot
0.47 ac
Current owner
From public records · entity-resolved
Institute For Washington Future
Individual
Mailing address
2720 VALENCIA ST, BELLINGHAM, WA 98226-3752
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2022
$900,000
Institute For Washington Future
Kendall Russ
Warranty Deed
$750,000 · 2011 Youg Street Suite 102
Jan 18, 2022
—
Kendall Russ
Gusto Wood Fired Pizza LLC
Quit Claim Deed
related
—
Jun 14, 2017
$465,000
Gusto W Fired Pizza LLC
Iwasaki,gregory S & Jill C
Warranty Deed
—
Sep 12, 2008
$270,000
Greg S Iwasaki
Whatcom Cnty Fire Protection D
Warranty Deed
$216,000 · Whatcom Educational Cu
Apr 19, 1999
—
Whatcom County (wa)
Whatcom Country Fire Protect
Quit Claim 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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