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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Office Spaces
1326 Commercial St 2 Bellingham, WA 98225-4308
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1170347
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1912
Total area
1,796 SF
Zoning code
CC
APN
380330 181176 0002
UPID
US90-1170347
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
-
O-Pole Studios Gym & Fitness Center
-
Ludwig Egan Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$525k
CAP Approach
CAP
$410k
Comparable Approach
Comparable
$476k
Blend (final)
Blend
$525k
Owner & transaction history
Bellingham Aerie No 31 Fraternal Or · 1 yrs held
Bellingham Aerie No 31 Fraternal Or
since 2024
Last sale
$525,000
5 recorded transactions
Zoning & alternative use
CC · 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
$525,000
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
$445,000
6.5%
$410,000
7%
$385,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$615,000
Current use
MEDICAL BUILDING
$555,000
Change: -10% · Conversion: Easy
RETAIL STORES
$525,000
Change: -15% · Conversion: Moderate
COMMERCIAL (GENERAL)
$500,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$525k
Range $473k – $578k · ±10% · vs last sale $525k (Sep 17 2024)
Last sale anchor
$525k
Sep 17 2024
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
$292 / 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
$2,357
Tax year 2024
Assessed value
$303,197
Assessed 2023
Previous assessed
$273,151
+11.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$120,213
Assessed improvement
$182,984
Land market value
$120,213
Improvement market value
$182,984
Total market value
$303,197
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1912
Heating
NONE
Cooling
YES
Total area
1,796 SF
Zoning code
CC
APN
380330 181176 0002
UPID
US90-1170347
Jurisdiction
WHATCOM
Zoning & alternative use
CC · Bellingham, WA
Zoning CC · permitted uses
CC · 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
$615,000
MEDICAL BUILDING
Est. value
$555,000
RETAIL STORES
Est. value
$525,000
COMMERCIAL (GENERAL)
Est. value
$500,000
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
1912
Heating
NONE
Cooling
Yes
Current owner
From public records · entity-resolved
Bellingham Aerie No 31 Fraternal Or
Individual
Mailing address
1315 31ST AVE S, SEATTLE, WA 98144-3907
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Sep 17, 2024
$525,000
Bellingham Aerie No 31 Fraternal Or
Uyen Nguyen
Warranty Deed
$175,000 · Uyen Nguyen Etal
Aug 9, 2021
$471,618
Uyen Nguyen
Bham LLC
Warranty Deed
—
Dec 30, 2014
$255,000
Bham LLC
Ryan,michael & Barbara
Grant Deed
—
Oct 16, 1995
$120,000
Michael Ryan
Baron,gerald R & Lynne C
Grant Deed
$100,000 · Whatcom State Bank
—
—
Michael Ryan
—
Deed Of Trust
related
$67,021 · Banner 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.
Try Rey
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