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Property profile & analytics
OFF-MARKET
Estimated value
$1,505,000
Warehouses
2123 Grant St Bellingham, WA 98225-4203
Individually Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1726959
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1969
Total area
16,798 SF
Lot
0.63 ac (27,556 SF)
Zoning code
LI
APN
380330 434489 0000
UPID
US90-1726959
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
-
CDI Custom Design, Inc. Awning Supplier Banner Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.94M
Comparable Approach
Comparable
$948k
Blend (final)
Blend
$1.51M
Owner & transaction history
Loren J Demuth · 3 yrs held
Loren J Demuth
since 2023
7 recorded transactions
Zoning & alternative use
LI · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
CAP Approach
CAP Return
Estimation
6%
$2,100,000
6.5%
$1,940,000
7%
$1,800,000
Blend value · Realmo final
$1.51M
Range $1.35M – $1.66M · ±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
$90 / 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
$12,496
Tax year 2021
Assessed value
$1,472,835
Assessed 2022
Previous assessed
$1,472,835
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$735,221
Assessed improvement
$737,614
Land market value
$735,221
Improvement market value
$737,614
Total market value
$1,472,835
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1969
Heating
NONE
Cooling
YES
Total area
16,798 SF
Lot
0.63 ac (27,556 SF)
Zoning code
LI
APN
380330 434489 0000
UPID
US90-1726959
Jurisdiction
WHATCOM
Zoning & alternative use
LI · Bellingham, WA
Zoning LI · permitted uses
LI · 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.
Building & site characteristics
From public records
Year built
1969
Heating
NONE
Cooling
Yes
Lot
0.63 ac
Current owner
From public records · entity-resolved
Loren J Demuth
Individual
Mailing address
423 KENTUCKY ST, BELLINGHAM, WA 98225-4213
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
21 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 22, 2023
—
Loren J Demuth
—
Deed
related
$1,000,000 · North Coast Cu
Oct 30, 2020
—
Loren J Demuth
—
Deed
related
$1,487,000 · North Coast Cu
Aug 16, 2019
—
Loren J Demuth
—
Deed
related
$559,500 · Harvest Small Busn Fin LLC
Dec 6, 2018
—
Loren J Demuth
—
Deed
related
$721,000 · Gemini Finance Corp
Aug 30, 2016
—
Loren J Demuth
—
Deed
related
$1,237,500 · North Coast Cu
Oct 18, 2010
—
Loren J Demuth
—
Trustees Deed
related
$407,596 · Whatcom Educational Cu
Aug 19, 2010
—
Loren J Demuth
—
Trustees Deed
related
$400,000 · Whatcom Educational Cu
—
—
Loren J Meduth
—
Deed Of Trust
related
$721,000 · Gemini Finance Corp
—
—
Loren J Demuth
—
Deed Of Trust
related
$402,140 · Whatcom Educational Cu
—
—
Loren J Demuth
—
Deed Of Trust
related
$400,000 · Whatcom Educational Cu
—
—
Loren J Green
—
Deed Of Trust
related
$1,500,000 · Whatcom Educational Cu
—
—
Loren J Demuth
—
Deed Of Trust
related
$400,000 · Dale E & K E Shintaffer
—
—
Loren J Demuth
—
Deed Of Trust
related
$1,237,500 · North Coast Cu
—
—
Loren J Demuth
—
Loan Modification
related
$390,437 · Whatcom Educational Cu
—
—
Loren J Demuth
—
Deed Of Trust
related
$396,999 · Whatcom Educational Cu
—
—
Loren J Demuth
—
Deed Of Trust
related
$559,500 · Harvest Small Busn Fin LLC
—
—
Loren J Demuth
—
Deed Of Trust
related
$396,330 · Whatcom Educational Cu
—
—
Loren J Demuth
—
Deed Of Trust
related
$1,563,916 · Whatcom Educational Cu
—
—
Loren J Demuth
—
Deed Of Trust
related
$394,302 · Whatcom Educational Cu
—
—
Loren J Demuth
—
Deed Of Trust
related
$721,000 · Gemini Finance Corp
—
—
Loren J Demuth
—
Deed Of Trust
related
$403,893 · Whatcom Educational Cu
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.
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