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Property profile & analytics
FOR LEASE
Warehouses
1645 Jills Ct Bellingham, WA 98226
Trust Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1391762
For Lease
$2,120,000
1645 Jills Ct, Bellingham, WA 98226
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2001
Total area
18,720 SF
Lot
1.18 ac (51,444 SF)
Zoning code
LI
APN
380317 176347 0000
UPID
US90-1391762
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
-
Ducoterra Big Box & Wholesale Store Building Supply
-
CapStone Solar Solar Energy Contractor
-
ASR Outdoor (Bike/Boat/Book/etc) Store
-
Irongate Enterprises Marketing & Advertising IT Consulting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.16M
Comparable Approach
Comparable
$1.33M
Blend (final)
Blend
$2.12M
Owner & transaction history
Pass,cela B C B Trust · 7 yrs held
Pass,cela B C B Trust
since 2018
7 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%
$2,340,000
6.5%
$2,160,000
7%
$2,005,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$3,240,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$2.12M
Range $1.91M – $2.33M · ±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
$113 / 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
$21,412
Tax year 2024
Assessed value
$2,753,969
Assessed 2023
Previous assessed
$2,168,479
+27.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$744,792
Assessed improvement
$2,009,177
Land market value
$744,792
Improvement market value
$2,009,177
Total market value
$2,753,969
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
2001
Heating
NONE
Cooling
YES
Total area
18,720 SF
Lot
1.18 ac (51,444 SF)
Zoning code
LI
APN
380317 176347 0000
UPID
US90-1391762
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.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$3.2M
AUTO REPAIR, GARAGE
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
2001
Heating
NONE
Cooling
Yes
Lot
1.18 ac
Current owner
From public records · entity-resolved
Pass,cela B C B Trust
Trust
Mailing address
1825 MONTEREY AVE STE #112, BERKELEY, CA 94707-2543
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 7, 2018
$2,350,000
Pass,cela B C B Trust
Pomeroy Industrial LLC
Warranty Deed
$1,450,000 · North Coast Cu
Oct 12, 2017
—
Pomeroy Industrial LLC
—
Deed
related
$1,100,000 · Whatcom Educational Cu
Jan 25, 2001
—
Pomeroy Industrial LLC
—
Trustees Deed
related
$875,000 · Interwest Bank
Jan 4, 2001
$203,595
Pomeroy Industrial LLC
Hammer,howard
Grant Deed
—
Jun 3, 1998
—
Bellevue City (wa)
Hammer,howard
Quit Claim Deed
related
—
—
—
Pomeroy Industrial LLC
—
Deed Of Trust
related
$1,050,000 · Whatcom Educational Cu
—
—
Pomeroy Industrial LLC
—
Deed Of Trust
related
$1,100,000 · Whatcom Educational Cu
—
—
Pomeroy Industrial LLC
—
Deed Of Trust
related
$900,000 · Whatcom Educational Cu
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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