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Property profile & analytics
OFF-MARKET
Estimated value
$2,935,000
Warehouses
1910 James St Bellingham, WA 98225-4232
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-1081272
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1991
Total area
17,472 SF
Lot
0.34 ac (15,002 SF)
Zoning code
LI
APN
380330 558378 0000
UPID
US90-1081272
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
-
Bellingham Heated Mini-Storage Storage Facility
-
U-Haul Neighborhood Dealer Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.10M
CAP Approach
CAP
$2.02M
Comparable Approach
Comparable
$2.99M
Blend (final)
Blend
$2.94M
Owner & transaction history
Bellingham All Heated Storage LLC · 3 yrs held
Bellingham All Heated Storage LLC
since 2023
Last sale
$2.8M
2 recorded transactions
Zoning & alternative use
LI · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.9M
+37.8%
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
$3,085,000
ML approach
$3,095,000
CAP Approach
CAP Return
Estimation
6%
$2,185,000
6.5%
$2,015,000
7%
$1,870,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,525,000
Current use
COMMERCIAL (GENERAL)
$4,855,000
Change: +38% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,175,000
Change: -10% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,025,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$2.94M
Range $2.64M – $3.23M · ±10% · vs last sale $2.75M (Jan 10 2023)
Last sale anchor
$2.75M
Jan 10 2023
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
$168 / 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
$13,933
Tax year 2021
Assessed value
$1,642,155
Assessed 2022
Previous assessed
$1,642,155
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$574,200
Assessed improvement
$1,067,955
Land market value
$574,200
Improvement market value
$1,067,955
Total market value
$1,642,155
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
1991
Heating
SPACE
Cooling
YES
Total area
17,472 SF
Lot
0.34 ac (15,002 SF)
Zoning code
LI
APN
380330 558378 0000
UPID
US90-1081272
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
WAREHOUSE, STORAGE Current
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$4.9M
INDUSTRIAL (GENERAL)
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$3.0M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1991
Heating
SPACE
Cooling
Yes
Lot
0.34 ac
Current owner
From public records · entity-resolved
Bellingham All Heated Storage LLC
Entity
Free & Clear · 3 yrs held
Mailing address
9519 4TH ST NE, LAKE STEVENS, WA 98258-1631
Ownership since
2023
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
Jan 10, 2023
$2,750,000
Bellingham All Heated Storage LLC
Belingham Heated Mini Storage LLC
Warranty Deed
—
Dec 30, 1999
—
Heated Mini-storage Bellingham
Cowden,leonard
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.
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