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    Property profile & analytics

    2015 Main St Ferndale, WA 98248-9468

    • Retail space
    • 2,164 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3314120
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hermosa Hair Design / Hair Salon / Nail Salon
    • Digital Delights / Nail Salon
    • Bhava Beauty / Hair Salon / Nail Salon
    • Yeah Baby Boards / Bar & Pub

    Property Details for 2015 Main St

    Year built
    1925
    Lot size
    0.07 lot acres
    Property size
    2,164 SF
    Zone code
    CTC
    Property type
    Retail space
    APN
    390229 121488 0000
    APU
    3902291214880000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Whatcom
    State
    Washington
    Longitude
    -122.591
    Latitude
    48.8463
    CBSA code
    13380
    CBSA name
    BELLINGHAM, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $2,086
    $116,156
    $201,658
    $317,814
    -
    $116,156
    $201,658
    $317,814

    Comparable in this City

    • Value Estimation
      $1,360,000
      7,200 SF

      6195 Portal Way, Unit 1

      RETAIL STORES (PERSONAL SERVICES) • 7,200 SF
      6195 Portal Way, Ferndale, WA 98248-9363
      View Details
    • Value Estimation
      $880,000
      5,400 SF

      2257 Northgate Spur

      RETAIL STORES (PERSONAL SERVICES) • 5,400 SF
      2257 Northgate Spur, Ferndale, WA 98248-8313
      View Details
    • Value Estimation by Request
      1,249 SF

      5707 3rd Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,249 SF
      5707 3rd Ave, Ferndale, WA 98248
      View Details
    • Value Estimation by Request
      4,014 SF

      2034 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,014 SF
      2034 Main St, Ferndale, WA 98248-9468
      View Details
    • Value Estimation
      $775,000
      3,600 SF

      5682 3rd Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      5682 3rd Ave, Ferndale, WA 98248
      View Details
    • Value Estimation by Request
      2,278 SF

      6167 Portal Way

      RETAIL STORES (PERSONAL SERVICES) • 2,278 SF
      6167 Portal Way, Ferndale, WA 98248-9363
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Visible Mixed-Use Building in Ferndale

      Stand-alone building in shell condition with retail and warehouse space.
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    • $996,644
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      Ferndale Commercial Land - Lot A

      Prime Ferndale development opportunity, grocery-anchored.
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      11,040 SF

      Ferndale Retail Property for Sale

      Retail property with 11,040 square feet of space.
      1720 Labounty Dr, Ferndale, WA 98248
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    • Contact for pricing

      Commercial Land Near I-5

      Commercial land available near I-5 in Ferndale, Washington.
      2184 Buchanan Loop, Ferndale, WA 98248
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    • $6,800,000

      Industrial Property with Expansion Potential

      Metal fabrication business and real estate with expansion possibilities.
      7135 Delta Line Rd, Ferndale, WA 98248
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      Commercial Land I-5 Visibility

      Commercial land with high I-5 visibility, site plan review in process.
      5391 Labounty Dr, Ferndale, WA 98248
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    Similar Nearby for Lease

    • Contact for pricing
      7,158 SF

      New Retail & Office Space

      New construction retail and office space in a growing area.
      6252 Portal Way, Ferndale, WA 98248
      View Details
    • $23 SF/Yr
      1,000 SF

      Retail Space in Grocery Outlet

      Former salon in a busy shopping center, Ferndale, WA.
      1730-1750 Labounty Dr, Ferndale, WA 98248
      View Details
    • Contact for pricing
      5,850 SF

      High-Visibility Retail Space Available

      Retail spaces available along I-5 with ample parking.
      5100 Pacific Hwy, Ferndale, WA 98248
      View Details
    • $20 SF/Yr
      1,560 SF

      Retail and Office Complex

      Commercial retail and office space for lease in Ferndale.
      1887 Main St, Ferndale, WA 98248
      View Details
    • Contact for pricing
      7,500 SF

      Retail Center Near Interstate 5

      28,000 SF retail center near I-5 in Ferndale, WA.
      5905 Portal Way, Ferndale, WA 98248
      View Details
    • $24 SF/Yr
      28,000 SF

      Ferndale Crossings Medical Office Space

      Prime Ferndale Retail/Office Opportunity
      5905 Portal Way, Ferndale, WA 98248
      View Details
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    2015 Main St
    Ferndale, WA 98248-9468
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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