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Property profile & analytics
OFF-MARKET
Estimated value
$3,890,000
Showrooms
1411 Meador Ave Bellingham, WA 98229-5845
Entity Owned
~
Est. High Equity
Property ID
US90-0131797
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2001
Total area
20,714 SF
Lot
1.9 ac (82,633 SF)
Zoning code
PI
APN
380329 213316 0000
UPID
US90-0131797
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
-
GEAR AID Inc Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.05M
Comparable Approach
Comparable
$4.74M
Blend (final)
Blend
$3.89M
Owner & transaction history
Stevco LLC
Stevco LLC
since 2025
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
PI · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,380,000
6.5%
$4,045,000
7%
$3,755,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$6,425,000
Change: -6% · Conversion: Easy
RETAIL STORES
$6,075,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$3.89M
Range $3.50M – $4.28M · ±10% · vs last sale $3.19M (May 7 2025)
Last sale anchor
$3.19M
May 7 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
$188 / 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
$18,524
Tax year 2021
Assessed value
$2,183,287
Assessed 2022
Previous assessed
$2,183,287
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$503,162
Assessed improvement
$1,680,125
Land market value
$503,162
Improvement market value
$1,680,125
Total market value
$2,183,287
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
2001
Heating
SPACE
Cooling
YES
Total area
20,714 SF
Lot
1.9 ac (82,633 SF)
Zoning code
PI
APN
380329 213316 0000
UPID
US90-0131797
Jurisdiction
WHATCOM
Zoning & alternative use
PI · Bellingham, WA
Zoning PI · permitted uses
PI · 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
MEDICAL BUILDING
Est. value
$6.4M
RETAIL STORES
Est. value
$6.1M
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
2001
Heating
SPACE
Cooling
Yes
Lot
1.9 ac
Current owner
From public records · entity-resolved
Stevco LLC
Entity
Mailing address
1904 E LOPEZ CT, BELLINGHAM, WA 98229-2101
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 7, 2025
$3,185,000
Stevco LLC
Mcnett Family LLC
Warranty Deed
—
Aug 29, 2008
—
Mcnett Family LLC
Mcnett,duane V & Nancy B
Quit Claim Deed
related
—
Mar 19, 2007
—
Duane V Mcnett
—
Deed Of Trust
related
$2,000,000 · Horizon Bank
—
—
Mcnett Family LLC
—
Deed Of Trust
related
$1,225,000 · Columbia State Bank
—
—
Duane V Mcnett
—
Deed Of Trust
related
$2,000,000 · Horizon Bank
—
—
Duane V Mcnett
—
Deed Of Trust
related
$1,485,000 · Frontier Bank
—
—
Duane Mcnett
—
Deed Of Trust
related
$66,488 · Jfj Co
—
—
Duane Mcnett
—
Deed Of Trust
related
$681,000 · Evergreen Community Dev Assn
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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