Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,350,000
Refrigerated & Cold Storage
1968 Midway Ln Bellingham, WA 98226-9188
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-1693999
Property profile
Verified
Property type
Refrigerated & Cold Storage
Use group
COLD STORAGE
Year built
1990
Total area
4,800 SF
Lot
1.24 ac (53,927 SF)
Zoning code
HI
APN
380317 341415 0000
UPID
US90-1693999
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
-
Schwan's Home Services Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.35M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.45M
Blend (final)
Blend
$1.35M
Owner & transaction history
Midway Industrial LLC · 2 yrs held
Midway Industrial LLC
since 2024
Last sale
$1.4M
4 recorded transactions
Zoning & alternative use
HI · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.7M
+73.1%
Medical building
$1.5M
+53.8%
Commercial (general)
$1.4M
+48.4%
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
$1,350,000
ML approach
$1,350,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$970,000
Current use
OFFICE BUILDING
$1,675,000
Change: +73% · Conversion: Difficult
MEDICAL BUILDING
$1,490,000
Change: +54% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,435,000
Change: +48% · Conversion: Difficult
RETAIL STORES
$1,410,000
Change: +45% · Conversion: Moderate
AUTO REPAIR, GARAGE
$830,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$1.35M
Range $1.22M – $1.49M · ±10% · vs last sale $1.35M (Apr 10 2024)
Last sale anchor
$1.35M
Apr 10 2024
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
$281 / 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
$7,055
Tax year 2021
Assessed value
$943,933
Assessed 2022
Previous assessed
$943,933
+0.0% YoY
Effective rate
0.75%
On assessed value
Assessed land
$584,117
Assessed improvement
$359,816
Land market value
$584,117
Improvement market value
$359,816
Total market value
$943,933
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
Refrigerated & Cold Storage
Use group
COLD STORAGE
Status
Off-Market
Year built
1990
Heating
NONE
Cooling
YES
Total area
4,800 SF
Lot
1.24 ac (53,927 SF)
Zoning code
HI
APN
380317 341415 0000
UPID
US90-1693999
Jurisdiction
WHATCOM
Zoning & alternative use
HI · Bellingham, WA
Zoning HI · permitted uses
HI · 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
$970,000
OFFICE BUILDING
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$830,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1990
Heating
NONE
Cooling
Yes
Lot
1.24 ac
Current owner
From public records · entity-resolved
Midway Industrial LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1317 COMMERCIAL ST STE #204, BELLINGHAM, WA 98225-4388
Ownership since
2024
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
Apr 10, 2024
$1,350,000
Midway Industrial LLC
Cygnus Properties LLC
Bargain And Sale Deed
—
Apr 11, 2022
—
Cygnus Properties Lcl
Cygnus Home Seervice LLC
Warranty Deed
—
Oct 23, 2020
—
Cygnus Home Service LLC
—
Deed
related
$100,000 · Deneb R/e LLC
—
—
Cygnus Home Service LLC
—
Deed Of Trust
related
$100,000 · Deneb R/e LLC
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 1968 Midway Ln?
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.
