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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Commercial land
1401 Ee St, Bellingham, WA 98225-3906
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1673110
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1927
Total area
2,160 SF
Lot
0.23 ac (10,006 SF)
Zoning code
C
APN
380330 005373 0000
UPID
US90-1673110
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$865k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$523k
Blend (final)
Blend
$855k
Owner & transaction history
Capron LLC · 3 yrs held
Capron LLC
since 2023
Last sale
$840,000
4 recorded transactions
Zoning & alternative use
C · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$740,000
+23.5%
Medical building
$670,000
+11.6%
Retail stores
$635,000
+5.5%
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
$875,000
ML approach
$865,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$600,000
Current use
OFFICE BUILDING
$740,000
Change: +24% · Conversion: Easy
MEDICAL BUILDING
$670,000
Change: +12% · Conversion: Easy
RETAIL STORES
$635,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$855k
Range $770k – $941k · ±10% · vs last sale $840k (Mar 5 2025)
Last sale anchor
$840k
Mar 5 2025
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
$396 / 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
$2,670
Tax year 2024
Assessed value
$343,406
Assessed 2023
Previous assessed
$343,200
+0.1% YoY
Effective rate
0.78%
On assessed value
Assessed land
$343,406
Land market value
$343,406
Total market value
$343,406
Applied tax rate
109.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1927
Heating
NONE
Total area
2,160 SF
Lot
0.23 ac (10,006 SF)
Zoning code
C
APN
380330 005373 0000
UPID
US90-1673110
Jurisdiction
WHATCOM
Zoning & alternative use
C · Bellingham, WA
Zoning C · permitted uses
C · 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
$600,000
OFFICE BUILDING
Est. value
$740,000
MEDICAL BUILDING
Est. value
$670,000
RETAIL STORES
Est. value
$635,000
COMMERCIAL (GENERAL) Current
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
1927
Heating
NONE
Lot
0.23 ac
Current owner
From public records · entity-resolved
Capron LLC
Entity
Mailing address
405 PO BOX 30886TH ST, BELLINGHAM, WA 98228-2886
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2023
$840,000
Capron LLC
Parberry Family LP I Agmt Lllp
Warranty Deed
$300,000 · Capron LLC
Feb 1, 2013
—
Parberry Family LP I Agreement
Parberry B L Living Trust
Quit Claim Deed
—
Dec 1, 2009
$40,000
Parberry Family LP I Agreement
Parberry,brian G
Warranty Deed
—
Dec 1, 2009
—
Carol A Kuljis
Parberry Louis H
Grant Deed
—
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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