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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2046 Main St Ferndale, WA 98248-9468

    • Investment properties
    • 2,016 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    May 28, 2021
    $480,000
    Value Estimations
    $540,000
    Show details
    Cap Rate Potential
    4.3%
    Investment properties
    Location Intelligence
    Property ID
    US90-0029646
    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

    • Alebrijes Mexican Store / Mexican Goods Store
    • Tonewoods Coalition / Association Or Organization

    Property Details for 2046 Main St

    Year built
    1930
    Lot size
    0.06 lot acres
    Property size
    2,016 SF
    Zone code
    CTC
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    390229 094524 0000
    APU
    3902290945240000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $595,000
      ML approach
      $575,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $425,000
      6.5%
      $395,000
      7%
      $365,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $560,000
      Market price range: $428k - $561k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $530,000
      Current use
      MEDICAL BUILDING
      $625,000
      Change: +18% Conversion: Easy
      OFFICE BUILDING
      $585,000
      Change: +10% Conversion: Easy
      RETAIL STORES
      $505,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Whatcom
    State
    Washington
    Longitude
    -122.592
    Latitude
    48.8473
    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
    2024
    $3,330
    $170,625
    $308,589
    $479,214
    -
    $170,625
    $308,589
    $479,214

    Comparable in this City

    • Value Estimation by Request
      1,246 SF

      5975 Portal Way

      STORE/OFFICE (MIXED USE) • 1,246 SF
      5975 Portal Way, Ferndale, WA 98248-9361
      View Details
    • Value Estimation
      $700,000
      3,570 SF

      5616 3rd Ave

      STORE/OFFICE (MIXED USE) • 3,570 SF
      5616 3rd Ave, Ferndale, WA 98248-8394
      View Details
    • Value Estimation by Request
      1,860 SF

      6267 Portal Way

      STORE/OFFICE (MIXED USE) • 1,860 SF
      6267 Portal Way, Ferndale, WA 98248-9362
      View Details
    • Value Estimation
      $2,075,000
      7,225 SF

      5828 2nd Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 7,225 SF
      5828 2nd Ave, Ferndale, WA 98248-5003
      View Details
    • Value Estimation
      $810,000
      3,448 SF

      2080 Alder St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,448 SF
      2080 Alder St, Ferndale, WA 98248
      View Details
    • Value Estimation by Request
      7,062 SF

      2057 Alder St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,062 SF
      2057 Alder St, Ferndale, WA 98248
      View Details

    Similar Nearby for Sale

    • $999,950

      Prime Corner Parcel Near Border

      High-visibility mixed-use commercial/residential land near US/BC border.
      1886 Trigg Rd, Ferndale, WA 98248
      View Details
    • $699,000

      Visible Mixed-Use Building in Ferndale

      Stand-alone building in shell condition with retail and warehouse space.
      1990 Main St, Ferndale, WA 98248
      View Details
    • $1,795,000

      Mobile Home Community with Expansion Potential

      Established mobile home community near US/BC border with mixed-use zoning.
      1870 Trigg Rd, Ferndale, WA 98248
      View Details
    • $6,800,000

      Industrial Property with Expansion Potential

      Metal fabrication business and real estate with expansion possibilities.
      7135 Delta Line Rd, Ferndale, WA 98248
      View Details
    • $1,500,000

      Commercial Land I-5 Visibility

      Commercial land with high I-5 visibility, site plan review in process.
      5391 Labounty Dr, Ferndale, WA 98248
      View Details
    • $930,000
      0.59 Acres

      Ferndale Commercial Land - Main St.

      Prime Ferndale commercial lot, permit-ready.
      2131 Main St, Ferndale, WA 98248
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      2,000 SF

      Ferndale Corner Office Space

      Corner office space in the heart of Ferndale.
      1943 Main St, 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
    • $15 SF/Yr
      3,571 SF

      Turn-Key Ferndale Office Space

      Furnished office space in Ferndale with hard offices and workstations.
      5616 3Rd Ave, Ferndale, WA 98248
      View Details
    • $16 SF/Yr
      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
    • $0.85 SF/Yr
      2,325 SF

      Ferndale Warehouse Space Available

      Class A warehouse space in premier industrial location for lease.
      2693 Delta Ring Rd, Ferndale, WA 98248
      View Details
    • $1,350 /Mo
      952 SF

      Warehouse Space Near I-5

      Centrally located warehouse space with I-5 visibility in Whatcom County.
      5420-5426 Barrett Rd, Ferndale, WA 98248
      View Details

    Property Visit Statistics

    • Visits by month
      3.6k
    • Visitors by month
      2.8k
    • Avg Time on site
      16 min
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    2046 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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