Individually Owned Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1900
Total area
1,251 SF
Zoning code
RM15OF
APN
380225 482438 0004
UPID
US90-0654897
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Alternative Medicine Practice Spa & Massage Center
-
Recording Studio
-
Medical Clinic Alternative Medicine Practice
-
Medical Clinic Alternative Medicine Practice
-
Counselor
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$530k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$599k
Blend (final)
Blend
$530k
Owner & transaction history
since 2024
Last sale
$530,000
2 recorded transactions
Zoning & alternative use
RM15OF · Bellingham, WA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 7 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$530k
Value range
$477k – $583k
±10% around blend
Estimated value / SF
$424 / SF
Confidence
High
7 county-verified comps
Property data
75
Market benchmarks
100
Comparable evidence
70
$477k
blend $530k
$583k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
1,251 SF
Year built
1900
APN
380225 482438 0004
Zoning
RM15OF
Assessed value
$471,263
Annual tax
$3,664
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$427k
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.0 mi away · 1,274 SF
1.0 mi away · 923 SF
2.6 mi away · 1,532 SF
12.9 mi away · 1,418 SF
13.1 mi away · 1,296 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$530k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 48 sales
$343
+23%
Submarket 66 sales
$349
+21%
County 109 sales
$291
+46%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $424/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
3.50%
Implied, in-place cap rate for this office spaces
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.50%
9.0%
NOI (est.)
$37k *
Last sale · Oct 2024
$530k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.06M
Move the market yield to see immediate price impact.
Value / SF
$847
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
3.00%3.50%4.00%
$33k
$1.11M
$954k
$835k
$37k
$1.24M
$1.06M
$928k
$41k
$1.36M
$1.17M
$1.02M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$250k
0.5 mi · Feb 2026 · $274/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$3,664
Tax year 2024
Assessed value
$471,263
Assessed 2023
Previous assessed
$424,561
+11.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$139,194
Assessed improvement
$332,069
Land market value
$139,194
Improvement market value
$332,069
Total market value
$471,263
Applied tax rate
100.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1900
Heating
HOT WATER
Cooling
YES
Bathrooms
1
Total area
1,251 SF
Zoning code
RM15OF
APN
380225 482438 0004
UPID
US90-0654897
Jurisdiction
WHATCOM
Zoning & alternative use
RM15OF · Bellingham, WAZoning RM15OF · permitted uses
RM15OF · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Heating
HOT WATER
Cooling
Yes
Bathrooms
1
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
RM15OF
Jurisdiction
Bellingham, WA
Recorded code
RM15OF
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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