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Property profile & analytics
OFF-MARKET
Estimated value
$930,000
Hotels
151 Mcleod Rd Bellingham, WA 98226-5520
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0945224
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1984
Total area
15,376 SF
Lot
1.43 ac (62,378 SF)
Zoning code
PC
APN
380318 055336 0000
UPID
US90-0945224
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
-
Wingate Heritage Inn Hotel & Motel
-
Tesla Destination Charger Electric Vehicle Charging Station
-
Wingate by Wyndham Bellingham Heritage Inn Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$930k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$929k
Blend (final)
Blend
$930k
Owner & transaction history
Hp 3 LLC · 7 yrs held
Hp 3 LLC
since 2019
7 recorded transactions
Zoning & alternative use
PC · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.5M
+212.1%
Restaurant
$1.4M
+200.5%
Auto repair, garage
$1.3M
+166.5%
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
$930,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,500,000
Change: +212% · Conversion: Difficult
RESTAURANT
$1,445,000
Change: +201% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,280,000
Change: +166% · Conversion: Difficult
MEDICAL BUILDING
$1,255,000
Change: +161% · Conversion: Difficult
Blend value · Realmo final
$930k
Range $837k – $1.02M · ±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
$60 / 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
$41,517
Tax year 2024
Assessed value
$5,339,844
Assessed 2023
Previous assessed
$4,564,861
+17.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$1,185,220
Assessed improvement
$4,154,624
Land market value
$1,185,220
Improvement market value
$4,154,624
Total market value
$5,339,844
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1984
Heating
NONE
Cooling
YES
Buildings
2
Units
54
Total area
15,376 SF
Lot
1.43 ac (62,378 SF)
Zoning code
PC
APN
380318 055336 0000
UPID
US90-0945224
Jurisdiction
WHATCOM
Zoning & alternative use
PC · Bellingham, WA
Zoning PC · permitted uses
PC · 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
RETAIL STORES
Est. value
$1.5M
RESTAURANT
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.3M
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1984
Heating
NONE
Cooling
Yes
Buildings
2
Units
54
Lot
1.43 ac
Current owner
From public records · entity-resolved
Hp 3 LLC
Entity
Mailing address
4851 S 175TH ST, SEATAC, WA 98188-3710
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2025
—
Hp3 LLC
—
Deed
related
$5,000,000 · Harvest Small Business Finance LLC
Jul 1, 2019
$7,390,483
Hp 3 LLC
Shelby Co LLC
Grant Deed
$6,000,000 · Mountain Pacific Bk
Dec 21, 2012
$883,328
Shelby Company LLC
Heritage Inn Bellingham LLC
Special Warranty Deed
$6,115,000 · Wells Fargo Bank NA
Nov 20, 2008
—
Heritage Inn Bellingham LLC
Best Western Heritage Inn LLC
Quit Claim Deed
related
$6,045,000 · Peoples Bank & Trust
May 30, 1997
—
Best Western Heritage Inn LLC
Hollander,marlo G & Betty J
Quit Claim Deed
related
—
—
—
Best Western Heritage Inn LLC
—
Deed Of Trust
related
$3,581,250 · Horizon Bank
—
—
Beat Western Heritage Inn LLC
—
Deed Of Trust
related
$4,000,000 · Betty J Hollander
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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