Entity Owned Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1992
Total area
54,260 SF
Lot
3.64 ac (158,558 SF)
Zoning code
PC
APN
380331 397030 0000
UPID
US90-0963269
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Grocery & Convenience Store Food Market
-
Atm Currency Exchange Service
-
Shopping Center & Mall
-
Big Box & Wholesale Store
-
Cinema (Bike/Boat/Book/etc) Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.41M
CAP Approach
CAP
$9.96M
Comparable Approach
Comparable
$13.36M
Blend (final)
Blend
$12.80M
Owner & transaction history
since 2021
Last sale
$13.7M
7 recorded transactions
Zoning & alternative use
PC · Bellingham, WA
Top alternative use upside
Restaurant
$21.3M
+33.8%
Office building
$18.6M
+17.1%
Medical building
$16.8M
+5.7%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$12.80M
Value range
$11.52M – $14.08M
±10% around blend
Estimated value / SF
$236 / SF
Confidence
Property data
88
Market benchmarks
67
Comparable evidence
60
$11.52M
blend $12.80M
$14.08M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
54,260 SF
Lot area
3.64 ac
Year built
1992
APN
380331 397030 0000
Zoning
PC
Assessed value
$10,008,580
Annual tax
$77,817
3
Income approach: direct capitalization
Partial preview
Income approach indication
$9.96M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$10.79M
@ 6.5% CAP return
$9.96M
@ 7% CAP return
$9.25M
4
Sales comparison
Partial preview
Sales approach indication
$13.36M
Range $8.46M – $21.02M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$12.80M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 25 sales
$293
-20%
County 42 sales
$251
-6%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $236/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+34%
vs current-use indication
Office Building
Medical Building
Retail Stores · current use
Commercial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
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Overview
Implied cap rate
4.20%
Implied, in-place cap rate for this grocery and convenience stores
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.20%
9.0%
NOI (est.)
$961k *
Last sale · Jan 2021
$13.73M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$22.89M
Move the market yield to see immediate price impact.
Value / SF
$422
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
3.70%4.20%4.70%
$865k
$23.38M
$20.60M
$18.41M
$961k
$25.98M
$22.89M
$20.45M
$1.06M
$28.58M
$25.18M
$22.50M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$77,817
Tax year 2024
Assessed value
$10,008,580
Assessed 2023
Previous assessed
$11,538,922
-13.3% YoY
Effective rate
0.78%
On assessed value
Assessed land
$3,111,932
Assessed improvement
$6,896,648
Land market value
$3,111,932
Improvement market value
$6,896,648
Total market value
$10,008,580
Applied tax rate
100.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1992
Heating
YES
Cooling
YES
Total area
54,260 SF
Lot
3.64 ac (158,558 SF)
Zoning code
PC
APN
380331 397030 0000
UPID
US90-0963269
Jurisdiction
WHATCOM
Zoning & alternative use
PC · Bellingham, WAZoning PC · permitted uses
PC · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1992
Heating
YES
Cooling
Yes
Lot
3.64 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
PC
Jurisdiction
Bellingham, WA
Recorded code
PC
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Debt & historyRecorded loans and transaction history
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