Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2138 Grant St, Unit 101 Bellingham, WA 98225-4203

    • Warehouses
    • 3,627 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    May 07, 2021
    $190,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0019946
    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

    • NORTH CASCADE CREATIVE / General Contractor / Renovation Specialist
    • Plantage / Restaurant / Take-out & Catering

    Property Details for 2138 Grant St

    Year built
    2022
    Lot size
    0.11 lot acres
    Property size
    3,627 SF
    Zone code
    LI
    Property type
    Warehouses
    APN
    380330 454494 0000
    APU
    3803304544940000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellingham
    County
    Whatcom
    State
    Washington
    Longitude
    -122.469
    Latitude
    48.7588
    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
    $1,621
    $191,055
    $287,318
    $478,373
    -
    $191,055
    $287,318
    $478,373

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      700 Marine Dr

      WAREHOUSE, STORAGE • 2,400 SF
      700 Marine Dr, Bellingham, WA 98225-1530
      View Details
    • Value Estimation by Request
      2,464 SF

      2111 Humboldt St

      WAREHOUSE, STORAGE • 2,464 SF
      2111 Humboldt St, Bellingham, WA 98225-4118
      View Details
    • Value Estimation by Request
      678 SF

      903 Kentucky St

      WAREHOUSE, STORAGE • 678 SF
      903 Kentucky St, Bellingham, WA 98225-4225
      View Details
    • Value Estimation by Request
      1,122 SF

      2104 King St

      WAREHOUSE, STORAGE • 1,122 SF
      2104 King St, Bellingham, WA 98225-4144
      View Details
    • Value Estimation by Request
      2,925 SF

      3515 Bennett Dr

      WAREHOUSE, STORAGE • 2,925 SF
      3515 Bennett Dr, Bellingham, WA 98225-1119
      View Details
    • Value Estimation
      $1,610,000
      8,095 SF

      1419 C St

      STORAGE YARD (JUNK, SALVAGE) • 8,095 SF
      1419 C St, Bellingham, WA 98225
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Industrial Building on Fenced Lot

      6,645 SF building on 0.66 acre fenced lot.
      2034 Franklin St, Bellingham, WA 98225
      View Details
    • Contact for pricing
      31,500 SF

      Waterfront Industrial Property with Dock

      35,500 SF seafood processing and warehouse facility with dock.
      1001 Hilton Ave, Bellingham, WA 98225
      View Details
    • Contact for pricing

      Manufacturing Facility with Abundant Power

      Vacant manufacturing facility with an abundance of power available for rent.
      800 Cornwall Ave, Bellingham, WA 98225
      View Details
    • $2,900,000

      Bellingham Commercial Redevelopment Opportunity

      Prime 1.07-acre site near WWU.
      110 Samish Way, Bellingham, WA 98225
      View Details
    • Contact for pricing
      7,516 SF

      Medical Building with Surgery Center

      Stand-alone medical building with surgery center and operatory rooms.
      340 Birchwood Ave, Bellingham, WA 98225
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      42,000 SF

      Warehouse Space for Lease

      42,000 SF warehouse suitable for manufacturing, distribution, and assembly.
      1000 F St, Bellingham, WA 98225
      View Details
    • $10 SF/Yr
      4,860 SF

      Updated Warehouse/Retail Space Available

      Unique, updated 4860 SF warehouse/retail space near downtown Bellingham.
      1421 N Forest St, Bellingham, WA 98225
      View Details
    • Contact for pricing
      9,183 SF

      Industrial Space with Fenced Yard

      Industrial space for rent featuring a large, fenced yard.
      1419 C St, Bellingham, WA 98225
      View Details
    • Contact for pricing

      Office/Warehouse Suite in Orchard Business Park

      2,000 SF office/warehouse suite near I-5 and hospital.
      715 W Orchard Dr, Bellingham, WA 98225
      View Details
    • Contact for pricing
      2,755 SF

      Bellingham Flex/Industrial Space Available

      Flex/industrial space available for lease in Bellingham, Washington.
      3115-3145 Mercer Ave, Bellingham, WA 98225
      View Details
    • 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
    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.
    2138 Grant St, Unit 101
    Bellingham, WA 98225-4203
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!