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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Banks
2122 Barkley Blvd Bellingham, WA 98226-6611
Individually Owned
15-yr Hold
Free & Clear
Property ID
US90-0446933
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2000
Total area
10,461 SF
Lot
0.79 ac (34,199 SF)
Zoning code
PICR4
APN
380320 484404 0000
UPID
US90-0446933
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
-
WaFd Bank Bank Loan Service
-
Salish Wealth Management Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$525k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$776k
Blend (final)
Blend
$650k
Owner & transaction history
Federal S Washington · 15 yrs held
Federal S Washington
since 2010
4 recorded transactions
Zoning & alternative use
PICR4 · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.0M
+42.5%
Restaurant
$985,000
+37.2%
Auto repair, garage
$870,000
+21.6%
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
by Request
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$715,000
Current use
RETAIL STORES
$1,020,000
Change: +42% · Conversion: Difficult
RESTAURANT
$985,000
Change: +37% · Conversion: Difficult
AUTO REPAIR, GARAGE
$870,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$855,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$650k
Range $585k – $715k · ±10%
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
$62 / 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
$25,998
Tax year 2021
Assessed value
$3,326,492
Assessed 2022
Previous assessed
$3,326,492
+0.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$1,091,664
Assessed improvement
$2,234,828
Land market value
$1,091,664
Improvement market value
$2,234,828
Total market value
$3,326,492
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2000
Heating
NONE
Cooling
YES
Total area
10,461 SF
Lot
0.79 ac (34,199 SF)
Zoning code
PICR4
APN
380320 484404 0000
UPID
US90-0446933
Jurisdiction
WHATCOM
Zoning & alternative use
PICR4 · Bellingham, WA
Zoning PICR4 · permitted uses
PICR4 · 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
FINANCIAL BUILDING Current
Est. value
$715,000
RETAIL STORES
Est. value
$1.0M
RESTAURANT
Est. value
$985,000
AUTO REPAIR, GARAGE
Est. value
$870,000
MEDICAL BUILDING
Est. value
$855,000
FINANCIAL BUILDING Current
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2000
Heating
NONE
Cooling
Yes
Lot
0.79 ac
Current owner
From public records · entity-resolved
Federal S Washington
Individual
Free & Clear · 15 yrs held
Mailing address
425 PIKE ST STE #100, SEATTLE, WA 98101-4062
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2010
—
Federal S Washington
Horizon Bk
Grant Deed
—
Dec 31, 2008
—
Horizon Bk
Horizon Finl Corp
Quit Claim Deed
—
Sep 30, 2008
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
Sep 23, 2008
—
Horizon Finl Corp
Horizon Bk
Quit Claim Deed
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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