Entity Owned 
For Sale
1 / 36
$4,000,000
164 Smith Rd, Bellingham, WA 98226
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Property summary
AI-generated overview
This industrial property is centrally located between Bellingham, Ferndale, and Lynden, Washington, with access to the Canadian border and Interstate routes via Guide Meridian (SR 539). The site covers over 12 acres and includes approximately 33,804 square feet of industrial and shop space plus office space that was rebuilt during the year referenced in the listing. Outdoor improvements include a large yard area, exterior storage, and silo storage. The property is zoned Rural Industrial and Manufacturing by Whatcom County.
Property profile
Verified
Property type
Other industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1970
Total area
33,310 SF
Lot
12.04 ac (524,506 SF)
Zoning code
RIM
APN
390225 459079 0000
UPID
US90-0117934
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Industrial Manufacturer Production Facility
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$830k
Owner & transaction history
since 2014
7 recorded transactions
Zoning & alternative use
RIM · Bellingham, WA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$830k
Value range
$747k – $913k
±10% around blend
Estimated value / SF
$25 / SF
Confidence
Property data
88
Market benchmarks
100
Comparable evidence
60
$747k
blend $830k
$913k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
33,310 SF
Lot area
12.04 ac
Year built
1970
APN
390225 459079 0000
Zoning
RIM
Assessed value
$1,052,153
Annual tax
$11,612
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$830k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 20 sales
$210
-88%
Submarket 30 sales
$182
-86%
County 46 sales
$171
-85%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $25/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.05M
Move the market yield to see immediate price impact.
Value / SF
$32
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$66k
$1.33M
$947k
$737k
$74k
$1.47M
$1.05M
$818k
$81k
$1.62M
$1.16M
$900k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Tax billed
$11,612
Tax year 2021
Assessed value
$1,052,153
Assessed 2022
Previous assessed
$1,052,153
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$787,230
Assessed improvement
$264,923
Land market value
$787,230
Improvement market value
$264,923
Total market value
$1,052,153
Applied tax rate
5,020.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Sale
Year built
1970
Heating
SPACE
Cooling
YES
Total area
33,310 SF
Lot
12.04 ac (524,506 SF)
Zoning code
RIM
APN
390225 459079 0000
UPID
US90-0117934
Jurisdiction
WHATCOM
Zoning & alternative use
RIM · Bellingham, WAZoning RIM · permitted uses
RIM · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1970
Heating
SPACE
Cooling
Yes
Lot
12.04 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
RIM
Jurisdiction
Bellingham, WA
Recorded code
RIM
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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