Sign Up Successful!
You now have access to more from Realmo!
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

    215 Marine Dr Blaine, WA 98230

    • Investment properties
    • 18,884 SF
    For Sale
    View listing
    $2,195,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1436309
    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

    • Fleming Mark D DDS / Dental Office
    • Dr. Patrick J. Rooney, DDS / Dental Office
    • Kam-Way Transportation Inc / Freight Service / Logistics Company

    Property Details for 215 Marine Dr

    Year built
    1980
    Property size
    18,884 SF
    Zone code
    CBW
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    405101 360530 0048
    APU
    4051013605300048

    Description

    This exceptional commercial property, located at 215 Marine Drive in Blaine, Washington, presents a unique investment opportunity. The property encompasses two commercial buildings offering a blend of office and retail spaces, ideally situated on the picturesque marina boardwalk. Enjoy breathtaking views of the marina and passing sailboats while conducting business. The strategic location provides convenient access to Interstate 5 and the US/Canada border, offering significant advantages for businesses seeking regional or international reach. While the exact square footage is not currently specified, potential buyers are encouraged to conduct their own due diligence to determine the precise dimensions of each building and the total usable space. The property is offered at $2,195,000. The land encompasses zero acres, indicating the buildings are likely situated on a leasehold or are part of a larger development. Prospective buyers are responsible for verifying all information provided, including but not limited to, zoning regulations, building permits, and any existing leases or agreements. This is an exceptional opportunity to acquire a well-positioned commercial property in a vibrant waterfront location. The property's proximity to major transportation routes and the international border presents significant potential for growth and profitability. Serious inquiries are encouraged to conduct thorough due diligence before making an offer.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,995,000
      6.5%
      $3,685,000
      7%
      $3,425,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,404,000
      Market price range: $3.40M - $8.23M
      AI Estimate
      $2,887,000
      Market price range: $2.89M - $7.45M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $5,510,000
      Current use
      OFFICE BUILDING
      $5,490,000
      Change: -0% Conversion: Easy
      RETAIL STORES
      $4,750,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Blaine
    County
    Whatcom
    State
    Washington
    Longitude
    -122.757
    Latitude
    48.9951
    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
    $9,452
    $0.00
    $1,267,651
    $1,267,651
    -
    $0.00
    $1,267,651
    $1,267,651

    Comparable in this City

    • Value Estimation
      $1,340,000
      7,633 SF

      279 C St

      STORE/OFFICE (MIXED USE) • 7,633 SF
      279 C St, Blaine, WA 98230-4208
      View Details
    • Value Estimation
      $1,340,000
      7,050 SF

      289 H St

      STORE/OFFICE (MIXED USE) • 7,050 SF
      289 H St, Blaine, WA 98230-4007
      View Details
    • Value Estimation by Request
      2,613 SF

      183 C St

      STORE/OFFICE (MIXED USE) • 2,613 SF
      183 C St, Blaine, WA 98230-4229
      View Details
    • Value Estimation
      $1,390,000
      5,428 SF

      439 Peace Portal Dr

      STORE/OFFICE (MIXED USE) • 5,428 SF
      439 Peace Portal Dr, Blaine, WA 98230-4067
      View Details
    • Value Estimation
      $525,000
      0.09 Acres

      Blaine, WA 98230

      STORE/OFFICE (MIXED USE) • 0.09 Acres
      Blaine, WA 98230
      View Details
    • Value Estimation by Request
      1,036 SF

      341 H St

      STORE/OFFICE (MIXED USE) • 1,036 SF
      341 H St, Blaine, WA 98230-4109
      View Details

    Similar Nearby for Sale

    • $275,000

      Blaine Pizza Restaurant - Turnkey Opportunity

      Established Pizza Business, High Growth Potential
      12924 Bo Undisclosed, Blaine, WA 98230
      View Details
    • $1,075,000

      Versatile Birch Bay Commercial Property

      Remodeled mixed-use property in a thriving resort community.
      8045 Birch Bay Dr, Blaine, WA 98230
      View Details
    • $165,000
      0.27 Acres

      Blaine Commercial Storage Facility

      Secure Storage, Ample Space, Great Location
      4542 Alderson Rd, Blaine, WA 98230
      View Details
    • $425,000
      924 SF

      Double R Ranch Opportunity

      Two adjacent parcels with home and concrete pad in Blaine.
      4257 Cody Rd, Blaine, WA 98230
      View Details
    • $799,888

      Resort Commercial Development Site

      Development site near Birch Bay beach with resort commercial zoning.
      4817 Alderson Rd, Blaine, WA 98230
      View Details
    • $2,500,000
      3,345 SF

      Versatile Property in High-Traffic Area

      High-visibility property suitable for restaurant, retail, or redevelopment.
      234 D St, Blaine, WA 98230
      View Details

    Similar Nearby for Lease

    • $0.75 SF/Yr
      28,000 SF

      Blaine Retail Space For Rent

      28,000 square foot retail space available for lease.
      8115 Birch Bay Square St, Blaine, WA 98230
      View Details
    • $15 SF/Yr
      1,450 SF

      Office Space in Birch Bay

      Spacious office suite in a prime Blaine location.
      8105 Birch Bay Square St, Blaine, WA 98230
      View Details
    • $1,850 /Mo
      792 SF

      Waterfront Office/Retail Building For Rent

      Stand-alone office/retail building in a waterfront setting.
      225 Marine Dr, Blaine, WA 98230
      View Details
    • Contact for pricing
      23,087 SF

      Land for Lease in Blaine

      Land available for lease in Blaine, Washington.
      1135 Boblett St, Blaine, WA 98230
      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.
    215 Marine Dr
    Blaine, WA 98230
    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.