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Property profile & analytics
OFF-MARKET
Estimated value
$1,015,000
Warehouses
1805 Midway Ln Bellingham, WA 98226
Trust Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-2248166
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2013
Total area
10,370 SF
Lot
0.68 ac (29,403 SF)
Zoning code
LI
APN
380317 236445 0000
UPID
US90-2248166
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
-
Neon Sign Worx (Bike/Boat/Book/etc) Store Printing Service
-
LED Sign Authority (Bike/Boat/Book/etc) Store Printing Service
-
KP Metalworks Metal Fabrication Plant Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.20M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.02M
Owner & transaction history
Howard,rebecca J Living Trust · 7 yrs held
Howard,rebecca J Living Trust
since 2018
4 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%
$1,295,000
6.5%
$1,195,000
7%
$1,110,000
Blend value · Realmo final
$1.02M
Range $914k – $1.12M · ±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
$98 / 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
$8,859
Tax year 2021
Assessed value
$1,208,505
Assessed 2022
Previous assessed
$1,208,505
+0.0% YoY
Effective rate
0.73%
On assessed value
Assessed land
$377,119
Assessed improvement
$831,386
Land market value
$377,119
Improvement market value
$831,386
Total market value
$1,208,505
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
Off-Market
Year built
2013
Heating
SPACE
Cooling
YES
Total area
10,370 SF
Lot
0.68 ac (29,403 SF)
Zoning code
LI
APN
380317 236445 0000
UPID
US90-2248166
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
2013
Heating
SPACE
Cooling
Yes
Lot
0.68 ac
Current owner
From public records · entity-resolved
Howard,rebecca J Living Trust
Trust
Mailing address
PO BOX 30875, BELLINGHAM, WA 98228-2875
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 26, 2018
—
Howard,rebecca J Living Trust
Howard,rebecca J
Quit Claim Deed
related
$180,500 · Keybank USA
Apr 27, 2006
—
Becky Howard
Glen Cove Business Park LLC
Quit Claim Deed
related
—
Jul 22, 2005
$200,000
Glencove Business Park
Esposto,nicholas J
Warranty Deed
—
Jun 3, 1998
—
Bellevue City (wa)
Esposto,nichaolas
Quit Claim Deed
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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