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Property profile & analytics
OFF-MARKET
Estimated value
$12,715,000
Investment properties
1440 10th St, Bellingham, WA 98225-7028
Entity Owned
11-yr Hold
Free & Clear
Property ID
US90-1750029
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2007
Total area
69,375 SF
Lot
1.01 ac (43,952 SF)
Zoning code
CC
APN
370201 070050 0000
UPID
US90-1750029
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
-
Conversica (Bike/Boat/Book/etc) Store Corporate Office
-
Randel Perry US Army Corps of Engineers Engineering Consultant
-
Bayview Web Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Hum Yoga House Gym & Fitness Center
-
Lynne Nelson Counseling Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$13.55M
Comparable Approach
Comparable
$10.41M
Blend (final)
Blend
$12.72M
Owner & transaction history
Mckenzie Square LLC · 11 yrs held
Mckenzie Square LLC
since 2015
7 recorded transactions
Zoning & alternative use
CC · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$20.4M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$14,675,000
6.5%
$13,545,000
7%
$12,575,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$19,285,000
Current use
RETAIL STORES
$20,350,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$12.72M
Range $11.44M – $13.99M · ±10%
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
$183 / 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
$131,863
Tax year 2021
Assessed value
$16,934,425
Assessed 2022
Previous assessed
$16,934,425
+0.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$2,803,308
Assessed improvement
$14,131,117
Land market value
$2,803,308
Improvement market value
$14,131,117
Total market value
$16,934,425
Applied tax rate
111.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2007
Heating
NONE
Cooling
YES
Total area
69,375 SF
Lot
1.01 ac (43,952 SF)
Zoning code
CC
APN
370201 070050 0000
UPID
US90-1750029
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
COMMERCIAL (GENERAL) Current
Est. value
$19.3M
RETAIL STORES
Est. value
$20.4M
COMMERCIAL (GENERAL) Current
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
2007
Heating
NONE
Cooling
Yes
Lot
1.01 ac
Current owner
From public records · entity-resolved
Mckenzie Square LLC
Entity
Free & Clear · 11 yrs held
Mailing address
1200 CHUCKANUT CRST DR, BELLINGHAM, WA 98229-6914
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 1, 2021
—
Mckenzie Square LLC
—
Deed
related
$12,500,000 · The State Life Insurance Company
May 22, 2015
$14,562,000
Mckenzie Square LLC
10th & Mckenzie LP
Warranty Deed
—
Jan 20, 2006
—
1oth
—
Trustees Deed
related
$8,960,000 · Banner Bank
Jun 27, 2005
$30,000
City Of Bellingham
10th & Mckenzie
Warranty Deed
—
Mar 24, 2005
$1,350,000
10th
Robertson Family LLC
Warranty Deed
—
Mar 24, 2005
—
Robertson Family LLC
Bellingham Tennis Club LLC
Warranty Deed
related
—
Feb 27, 2002
—
Bellingham Tennis Club LLC
—
Deed Of Trust
related
$1,050,000 · Peoples Bank & Trust
Mar 15, 1999
—
Chinook Investments Group LLC
Dvorak,richard L & Teresa
Quit Claim Deed
related
—
—
—
10th LP
—
Deed Of Trust
related
$11,238,000 · Banner Bank
—
—
10th
—
Deed Of Trust
related
$1,840,000 · Banner Bank
—
—
10th
—
Deed Of Trust
related
$975,000 · Banner Bank
—
—
10th & Mckenzie LP
—
Deed Of Trust
related
$110,000 · Walker & Dunlop
—
—
10th & Mckenzie LP
—
Loan Modification
related
—
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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