Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    203 Holly St Bellingham, WA 98225-4364
    Property profile & analytics

    203 Holly St Bellingham, WA 98225-4364

    View on Map
    • Investment properties
    • 18,996 SF
    • 0.25 lot acres
    Off-Market
    Property ID
    US90-1095083
    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.
    Value Estimations
    $2,405,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ayurvedic Health Center & Wellness Shop / Gym & Fitness Center
    • Davis John R PhD / Marriage Or Relationship Counselor
    • Heather Small, LMT / Alternative Medicine Practice / Spa & Massage Center
    • Presentation Art Studio / Architect
    • CLAIRE EVANS MSW, LICSW, BCD / Foster Care Service / Social Service Agency

    Property Details for 203 Holly St

    Year built
    1902
    Lot size
    0.25 lot acres
    Property size
    18,996 SF
    Zone code
    CC
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    380330 131152 0000
    APU
    3803301311520000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,554,000
      Market price range: $601k - $4.06M

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellingham
    County
    Whatcom
    State
    Washington
    Longitude
    -122.481
    Latitude
    48.7504
    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
    $20,566
    $665,500
    $1,862,997
    $2,528,497
    -
    $665,500
    $1,862,997
    $2,528,497

    Comparable in this City

    • Value Estimation
      $7,900,000
      44,694 SF

      20 Bellwether Way

      OFFICE/RESIDENTIAL (MIXED USE) • 44,694 SF
      20 Bellwether Way, Bellingham, WA 98225-2949
      View Details
    • Value Estimation
      $3,195,000
      27,276 SF

      401 Champion St

      OFFICE/RESIDENTIAL (MIXED USE) • 27,276 SF
      401 Champion St, Bellingham, WA 98225-4373
      View Details
    • Value Estimation
      $13,230,000
      61,084 SF

      1310 9th St

      OFFICE/RESIDENTIAL (MIXED USE) • 61,084 SF
      1310 9th St, Bellingham, WA 98225-6896
      View Details
    • Value Estimation
      $3,135,000
      20,586 SF

      215 Holly St

      OFFICE/RESIDENTIAL (MIXED USE) • 20,586 SF
      215 Holly St, Bellingham, WA 98225-4356
      View Details
    • Value Estimation
      $2,165,000
      18,975 SF

      1226 State St

      OFFICE/RESIDENTIAL (MIXED USE) • 18,975 SF
      1226 State St, Bellingham, WA 98225-5079
      View Details
    • Value Estimation
      $10,130,000
      93,204 SF

      1211 Granary Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 93,204 SF
      1211 Granary Ave, Bellingham, WA 98225-3089
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Redevelopment Opportunity in Fountain District

      Mixed-use redevelopment opportunity in Bellingham's sought-after Fountain District.
      1306 Dupont St, Bellingham, WA 98225
      View Details
    • Contact for pricing

      Mixed-Use Building in Historic Fairhaven

      Four-unit, fully leased building with commercial and residential spaces.
      1006 Harris Ave, Bellingham, WA 98225
      View Details
    • $4,750,000
      24,165 SF

      Downtown Bellingham Class A Office

      Class A office building in downtown Bellingham for sale.
      1315 Cornwall Ave, Bellingham, WA 98225
      View Details
    • Contact for pricing
      5,120 SF

      Old Town Bellingham Development Opportunity

      Prime site in revitalizing corridor, ideal for development/commercial use.
      1310 G St, Bellingham, WA 98225
      View Details
    • Contact for pricing

      Downtown Bellingham Multi-Tenant Office Building

      Fully occupied office building in downtown Bellingham for sale.
      300 N Commercial St, Bellingham, WA 98225
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Historic Building in Central Bellingham

      Renovated office building with natural light in business district.
      114 W Magnolia St, Bellingham, WA 98225
      View Details
    • Contact for pricing
      840 SF

      Office Space in Fountain District

      Office space for rent in a vibrant, growing community.
      2417 Meridian St, Bellingham, WA 98225
      View Details
    • Contact for pricing

      Fairhaven Land with Redevelopment Potential

      Land in Fairhaven with redevelopment and investment opportunities.
      1302 Larrabee Ave, Bellingham, WA 98225
      View Details
    • Contact for pricing
      1,000 SF

      Spacious Office Space Available

      6,000 SF office space with ample natural light.
      1327-1329 N State St, Bellingham, WA 98225
      View Details
    • $16 SF/Yr
      1,940 SF

      Remodeled Office Space Available Soon

      Recently remodeled office space for lease starting May 2024.
      2203-2209 Elm St, Bellingham, WA 98225
      View Details
    • Contact for pricing

      Retail Space Near Western University

      Retail space with high foot traffic and parking.
      141 S Samish Way, Bellingham, WA 98225
      View Details

    Property Visit Statistics

    • Visits by month
      8.7k
    • Visitors by month
      6.0k
    • Avg Time on site
      26 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    203 Holly St
    Bellingham, WA 98225-4364
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    203 Holly St, Bellingham, WA, 98225
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!