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Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Warehouses
1515 Kentucky St Bellingham, WA 98229-4718
Entity Owned
Free & Clear
Property ID
US90-0530415
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1992
Total area
9,900 SF
Lot
1.32 ac (57,630 SF)
Zoning code
LI
APN
380329 265483 0000
UPID
US90-0530415
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
-
Northwest Container Rentals, Inc. Big Box & Wholesale Store Shipping Company
-
Northwest Recycling Waste Management Facility Hazardous Waste Disposal
-
Lautenbach Recycling Bellingham Recycling Center Waste Management Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.14M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$880k
Owner & transaction history
Pippagirl LLC
Pippagirl LLC
since 2025
Last sale
$1.2M
5 recorded transactions
Zoning & alternative use
LI · 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%
$1,240,000
6.5%
$1,140,000
7%
$1,060,000
Blend value · Realmo final
$880k
Range $792k – $968k · ±10% · vs last sale $1.20M (Nov 26 2025)
Last sale anchor
$1.20M
Nov 26 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
$89 / 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
$11,943
Tax year 2021
Assessed value
$1,407,638
Assessed 2022
Previous assessed
$1,407,638
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$923,328
Assessed improvement
$484,310
Land market value
$923,328
Improvement market value
$484,310
Total market value
$1,407,638
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1992
Heating
NONE
Total area
9,900 SF
Lot
1.32 ac (57,630 SF)
Zoning code
LI
APN
380329 265483 0000
UPID
US90-0530415
Jurisdiction
WHATCOM
Zoning & alternative use
LI · Bellingham, WA
Zoning LI · permitted uses
LI · 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.
Building & site characteristics
From public records
Year built
1992
Heating
NONE
Lot
1.32 ac
Current owner
From public records · entity-resolved
Pippagirl LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX R R, BELLINGHAM, WA 98227-1305
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 26, 2025
$1,196,157
Pippagirl LLC
Parberry Holdings LLC
Warranty Deed
—
May 13, 2013
—
Parberry Holdings LLC
Bcl Holdings LLC
Warranty Deed
—
Oct 29, 2002
—
Bcl Holdings
Ballinger,roy G
Grant Deed
related
$246,450 · Roy G Ballinger
Feb 20, 1996
$500,000
Roy G Ballinger
Zuanich LP
Grant Deed
$350,000 · Frontier Bank
—
—
Roy G Ballinger
—
Deed Of Trust
related
$385,000 · Whidbey Island Bank
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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