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Property profile & analytics
OFF-MARKET
Estimated value
$915,000
Office buildings
1321 King St, Bellingham, WA 98229-6237
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-3272677
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1976
Total area
4,280 SF
Lot
0.21 ac (8,960 SF)
Zoning code
PC
APN
380332 003548 0000
UPID
US90-3272677
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
-
Camp Fire Samish Child Welfare Organization Charitable Organization
-
Nails by Katia Nail Salon
-
Camp Kirby Training Center Family Recreation Center
-
Time Concepts (Bike/Boat/Book/etc) Store
-
Madrona Wear Clothing Store Clothing Alteration Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$945k
CAP Approach
CAP
$985k
Comparable Approach
Comparable
$1.08M
Blend (final)
Blend
$915k
Owner & transaction history
Lucky Tower Properties LLC · 5 yrs held
Lucky Tower Properties LLC
since 2021
Last sale
$775,000
7 recorded transactions
Zoning & alternative use
PC · 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
Method
Estimation
Statistic approach
$930,000
ML approach
$945,000
CAP Approach
CAP Return
Estimation
6%
$1,065,000
6.5%
$985,000
7%
$915,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,495,000
Current use
COMMERCIAL (GENERAL)
$1,410,000
Change: -6% · Conversion: Easy
MEDICAL BUILDING
$1,325,000
Change: -11% · Conversion: Easy
RETAIL STORES
$1,255,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$915k
Range $824k – $1.01M · ±10% · vs last sale $775k (Apr 15 2021)
Last sale anchor
$775k
Apr 15 2021
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
$214 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$5,425
Tax year 2024
Assessed value
$697,768
Assessed 2023
Previous assessed
$697,768
+0.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$292,723
Assessed improvement
$405,045
Land market value
$292,723
Improvement market value
$405,045
Total market value
$697,768
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1976
Heating
HEAT PUMP
Cooling
YES
Total area
4,280 SF
Lot
0.21 ac (8,960 SF)
Zoning code
PC
APN
380332 003548 0000
UPID
US90-3272677
Jurisdiction
WHATCOM
Zoning & alternative use
PC · Bellingham, WA
Zoning PC · permitted uses
PC · 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 Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.3M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
1976
Heating
HEAT PUMP
Cooling
Yes
Lot
0.21 ac
Current owner
From public records · entity-resolved
Lucky Tower Properties LLC
Entity
Free & Clear · 5 yrs held
Mailing address
8498 N TELEGRAPH RD, EVERSON, WA 98247-9255
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2021
$775,000
Lucky Tower Properties LLC
Jack D Johnson
Warranty Deed
—
Apr 17, 2009
—
Bellingham Rental Props LLC
Kenoyer,chet E & Lynette R
Grant Deed
—
Apr 4, 2003
$552,614
Chet Kenoyer
Norman,robert D & Kathleen A
Grant Deed
—
Aug 31, 1999
$523,529
Robert D Norman
Sarwas,roman R & Darla K
Grant Deed
$345,099 · Interwest Bank
—
—
Roman R Sarwas
—
Deed Of Trust
related
$134,734 · Key Bank NA
—
—
Robert D Norman
—
Deed Of Trust
related
$384,000 · Bank Of The Northwest
—
—
Chet Kenoyer
—
Deed Of Trust
related
$341,928 · 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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