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Property profile & analytics
OFF-MARKET
Estimated value
$790,000
Strip malls
1859 Main St Ferndale, WA 98248-9061
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1781629
Property summary
AI-generated overview
Ferndale Station offers exceptional office space for lease in a thriving commercial center at 1859 Main St, Ferndale, WA 98248. This multi-tenant retail and office complex boasts three available units ranging from 899 to 1,514 square feet, perfect for businesses seeking a prominent location. The property enjoys high visibility and accessibility, situated conveniently between Walgreens and Haggen grocery store, ensuring significant foot traffic and exposure. The strategic location within Ferndale's bustling commercial corridor benefits from an average daily traffic count of 19,590 vehicles. This established complex offers a strong sense of community, with existing tenants including well-known businesses such as Woods Coffee, Dollar Tree, Wells Fargo Bank, Verizon, H&R Block, and Domino's Pizza. The property is classified as a traditional office space within Whatcom County, Washington, providing a professional and established environment for your business. The available spaces are ideal for a variety of businesses seeking a high-traffic location with excellent visibility and established neighboring businesses. Contact us today to learn more about leasing opportunities and secure your space in this vibrant commercial hub.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2009
Total area
18,987 SF
Lot
1.96 ac (85,378 SF)
Zoning code
MCD
APN
390229 358381 0000
UPID
US90-1781629
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$675k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$910k
Blend (final)
Blend
$790k
Owner & transaction history
Olympic Cascade Drive Ins LLC · 6 yrs held
Olympic Cascade Drive Ins LLC
since 2019
2 recorded transactions
Zoning & alternative use
MCD · Ferndale, 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 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
$675,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$815,000
Current use
Blend value · Realmo final
$790k
Range $711k – $869k · ±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
$42 / 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
$23,842
Tax year 2021
Assessed value
$3,554,680
Assessed 2022
Previous assessed
$3,554,680
+0.0% YoY
Effective rate
0.67%
On assessed value
Assessed land
$1,080,860
Assessed improvement
$2,473,820
Land market value
$1,080,860
Improvement market value
$2,473,820
Total market value
$3,554,680
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2009
Heating
NONE
Cooling
YES
Total area
18,987 SF
Lot
1.96 ac (85,378 SF)
Zoning code
MCD
APN
390229 358381 0000
UPID
US90-1781629
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$815,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
2009
Heating
NONE
Cooling
Yes
Lot
1.96 ac
Current owner
From public records · entity-resolved
Olympic Cascade Drive Ins LLC
Entity
Mailing address
510 LAKEWAY DR, BELLINGHAM, WA 98225-5234
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2019
—
Olympic Cascade Drive Ins LLC
—
Grant Deed
related
$2,513,447 · Sortis Income Fund LLC
Apr 26, 2019
—
Ferndale Station LLC
—
Grant Deed
related
$8,800,000 · Boeing Emps 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.
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