New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,235,000
Office buildings
2011 Young St, Bellingham, WA 98225-4052
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0029432
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1979
Total area
15,227 SF
Lot
0.69 ac (30,000 SF)
Zoning code
RM15OF
APN
380330 203403 0000
UPID
US90-0029432
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
-
Shepherd and Allen Law Firm
-
Brinson & Heinz Family Law Attorneys Law Firm
-
Abbott Joe Law Firm
-
Whatcom Land Title Company Title Company Escrow Service
-
Sterling Real Estate Group Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.50M
CAP Approach
CAP
$3.50M
Comparable Approach
Comparable
$2.82M
Blend (final)
Blend
$3.24M
Owner & transaction history
Fiat Re LLC · 3 yrs held
Fiat Re LLC
since 2022
Last sale
$3.0M
7 recorded transactions
Zoning & alternative use
RM15OF · 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
$3,600,000
ML approach
$3,500,000
CAP Approach
CAP Return
Estimation
6%
$3,790,000
6.5%
$3,495,000
7%
$3,245,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,230,000
Current use
MEDICAL BUILDING
$4,725,000
Change: -10% · Conversion: Easy
RETAIL STORES
$4,465,000
Change: -15% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,230,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$3.24M
Range $2.91M – $3.56M · ±10% · vs last sale $3.00M (Oct 18 2022)
Last sale anchor
$3.00M
Oct 18 2022
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
$212 / 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
$25,358
Tax year 2021
Assessed value
$2,937,232
Assessed 2022
Previous assessed
$2,937,232
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$855,000
Assessed improvement
$2,082,232
Land market value
$855,000
Improvement market value
$2,082,232
Total market value
$2,937,232
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1979
Heating
NONE
Cooling
YES
Total area
15,227 SF
Lot
0.69 ac (30,000 SF)
Zoning code
RM15OF
APN
380330 203403 0000
UPID
US90-0029432
Jurisdiction
WHATCOM
Zoning & alternative use
RM15OF · Bellingham, WA
Zoning RM15OF · permitted uses
RM15OF · 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
OFFICE BUILDING Current
Est. value
$5.2M
MEDICAL BUILDING
Est. value
$4.7M
RETAIL STORES
Est. value
$4.5M
COMMERCIAL (GENERAL)
Est. value
$4.2M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
1979
Heating
NONE
Cooling
Yes
Lot
0.69 ac
Current owner
From public records · entity-resolved
Fiat Re LLC
Entity
Mailing address
103 N TOWNSHIP ST, SEDRO WOOLLEY, WA 98284-1243
Ownership since
2022
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
Jun 17, 2024
—
Fiat Re LLC
—
Deed
related
$3,000,000 · Coastal Community Bank
Mar 20, 2024
—
Jennifer M Ginger
—
Deed
related
$5,915 · Umpqua Bank
Oct 18, 2022
$3,000,000
Fiat Re LLC
Sitmore & Doolittle LLC
Warranty Deed
$2,250,000 · Coastal Community Bank
Apr 29, 2021
—
Thendara Park LLC
—
Deed
related
$480,000 · Peoples Bank
Jan 3, 2017
$1,000,000
David Goddard
Baldwin,michael & Colleen
Warranty Deed
—
Jan 3, 2017
—
David Goffard
Copper Builders Assoc
Warranty Deed
related
—
—
—
Copper Building Associates
—
Deed Of Trust
related
$932,000 · Union Bank
—
—
Copper Building Associates
—
Deed Of Trust
related
$1,550,000 · Whatcom State Bank
—
—
Copper Building Associates
—
Deed Of Trust
related
$1,192,880 · Banner Bank
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 2011 Young 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.
