New search
Property profile & analytics
OFF-MARKET
Estimated value
$10,140,000
Grocery and convenience stores
1815 Main St, Ferndale, WA 98248-9454
Individually Owned
Absentee Owner
Free & Clear
Property ID
US90-1956349
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1997
Total area
60,570 SF
Lot
8.94 ac (389,426 SF)
Zoning code
MCD
APN
390229 403389 0000
UPID
US90-1956349
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
-
Banner Bank Bank Loan Service
-
Vision Plus Ferndale Physician
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Haggen Grocery & Convenience Store Food Market
-
Haggen Pharmacy Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.41M
CAP Approach
CAP
$11.12M
Comparable Approach
Comparable
$8.89M
Blend (final)
Blend
$10.14M
Owner & transaction history
Ax Essential Retail Portfolio Dst
Ax Essential Retail Portfolio Dst
since 2025
7 recorded transactions
Zoning & alternative use
MCD · Ferndale, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$15.9M
+4.7%
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 Ferndale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ferndale 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
$10,405,000
CAP Approach
CAP Return
Estimation
6%
$12,045,000
6.5%
$11,120,000
7%
$10,325,000
Alternative Use
Use
Estimation
RETAIL STORES
$15,230,000
Current use
COMMERCIAL (GENERAL)
$15,945,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$10.14M
Range $9.13M – $11.15M · ±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
$167 / 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
$107,197
Tax year 2024
Assessed value
$15,426,734
Assessed 2023
Previous assessed
$15,424,237
+0.0% YoY
Effective rate
0.69%
On assessed value
Assessed land
$4,671,444
Assessed improvement
$10,755,290
Land market value
$4,671,444
Improvement market value
$10,755,290
Total market value
$15,426,734
Applied tax rate
200.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1997
Heating
NONE
Cooling
YES
Total area
60,570 SF
Lot
8.94 ac (389,426 SF)
Zoning code
MCD
APN
390229 403389 0000
UPID
US90-1956349
Jurisdiction
WHATCOM
Zoning & alternative use
MCD · Ferndale, WA
Zoning MCD · permitted uses
MCD · Ferndale, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ferndale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$15.2M
COMMERCIAL (GENERAL)
Est. value
$15.9M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1997
Heating
NONE
Cooling
Yes
Lot
8.94 ac
Current owner
From public records · entity-resolved
Ax Essential Retail Portfolio Dst
Individual
Free & Clear · 0 yrs held
Mailing address
5973 AVENIDA ENCINAS STE #301, CARLSBAD, CA 92008-4479
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2025
—
Ax Essential Retail Portfolio Dst
Nnn Opp Owner Vii LLC
Bargain & Sale Deed
—
Jan 12, 2021
—
Nnn Opp Owner Vii LLC
Mgp X Properties LLC
Grant Deed
$65,000,000 · Athene Annuity & Life Co
Dec 27, 2013
—
Mgp X Properties LLC
Mgp X Reit LLC
Quit Claim Deed
—
Nov 6, 2012
—
H & H Ferndale 10 LLC
—
Trustees Deed
related
$1,225,000 · Twin City Bank
Oct 26, 2012
$11,691,443
Mgp X Reit LLC
Briar Dev Co LLP
Warranty Deed
—
Sep 17, 2012
$700,000
H & H Ferndale 10 LLC
Briar Dev Co LLP
Grant Deed
$475,000 · Twin City Bank
Jul 5, 2011
$967,000
Jpmorgan Chase Bank NA
Briar Dev Co LLP
Grant Deed
related
—
—
—
Haggen INC
—
Deed Of Trust
related
—
—
—
Haggen INC
—
Deed Of Trust
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1815 Main St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
