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Property profile & analytics
FOR LEASE
Schools
1411 Railroad Ave Bellingham, WA 98225
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0046427
For Lease
1 / 2
$18 SF/Yr
1411 Railroad Ave, Bellingham, WA 98225
View Listing →
Property profile
Verified
Property type
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Year built
1917
Total area
11,000 SF
Lot
0.13 ac (5,502 SF)
Zoning code
CC
APN
380330 237160 0000
UPID
US90-0046427
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
-
Gene Juarez Salon and Spa - Bellingham Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.40M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.17M
Owner & transaction history
1411 Railroad Corporation INC · 4 yrs held
1411 Railroad Corporation INC
since 2021
Last sale
$2.0M
7 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
$2,270,000
ML approach
$2,400,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,305,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$1,785,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$1,655,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,630,000
Change: 0% · Conversion: Difficult
RESTAURANT
$1,375,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.17M
Range $1.95M – $2.39M · ±10% · vs last sale $2.00M (Aug 2 2021)
Last sale anchor
$2.00M
Aug 2 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
$197 / 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
$17,204
Tax year 2024
Assessed value
$2,212,716
Assessed 2023
Previous assessed
$1,993,437
+11.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$382,784
Assessed improvement
$1,829,932
Land market value
$382,784
Improvement market value
$1,829,932
Total market value
$2,212,716
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
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Status
For Lease
Year built
1917
Heating
NONE
Cooling
YES
Total area
11,000 SF
Lot
0.13 ac (5,502 SF)
Zoning code
CC
APN
380330 237160 0000
UPID
US90-0046427
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
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
RESTAURANT
Est. value
$1.4M
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
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
1917
Heating
NONE
Cooling
Yes
Lot
0.13 ac
Current owner
From public records · entity-resolved
1411 Railroad Corporation INC
Entity
Mailing address
114 W MAGNOLIA ST STE #400, BELLINGHAM, WA 98225-4380
Mailing matches property
Yes
Owner-occupied
Yes
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 2, 2021
$2,000,000
1411 Railroad Corporation INC
Dreamteam Holdings INC
Warranty Deed
—
Apr 11, 2016
$2,100,000
Dreamteam Holdings INC
1411 Properties LLC
Warranty Deed
related
$1,450,000 · Bank Of The West
Sep 30, 2008
—
1411 Properties LLC
1411 Railroad LLC
Quit Claim Deed
related
$1,746,000 · Merchants Bank Of California
Aug 17, 2007
$1,150,000
1411 Railroad LLC
Bellingham Renaissance I LLC
Warranty Deed
$988,000 · Merchants Bank Of California
Nov 25, 1997
—
Bellongham Renaissance I LLC
Tolchin,douglas
Quit Claim Deed
related
—
Apr 8, 1996
$225,000
Douglas Tolchin
Field Trust
Grant Deed
$181,000 · Seller
—
—
Bellingham Renaissance I LLC
—
Deed Of Trust
related
$65,000 · Bruce R
—
—
1411 Properties LLC
—
Loan Modification
related
$1,607,411 · Merchants Bk/ca
—
—
1411 Railroad LLC
—
Deed Of Trust
related
$50,000 · Bellingham Renaissance LLC
—
—
Bellingham Renaissance I LLC
—
Deed Of Trust
related
$50,000 · Bruce R Tolchin
—
—
1411 Railroad LLC
—
Deed Of Trust
related
$550,000 · Merchants Bank Of California
—
—
Bellingham Renaissance I LLC
—
Deed Of Trust
related
$350,000 · Bruce Tolchin
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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