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Property profile & analytics
FOR LEASE
Office buildings
2211 Rimland Dr, Bellingham, WA 98226
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0966908
For Lease
$27 SF/Yr
2211 Rimland Dr, Bellingham, WA 98226
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1994
Total area
88,272 SF
Lot
5.87 ac (255,697 SF)
Zoning code
PI
APN
380320 532534 0000
UPID
US90-0966908
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
-
Northwest Homes Team Real Estate Agency
-
My Bellingham Real Estate Real Estate Agency
-
Erin Kennedy, Bellingham Realtor Real Estate Agency
-
Aaron Bean - Realtor Real Estate Agency
-
Nick Berard Group - Keller Williams Realty Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$20.27M
Comparable Approach
Comparable
$17.21M
Blend (final)
Blend
$17.74M
Owner & transaction history
Kyle John Fox · 4 yrs held
Kyle John Fox
since 2021
5 recorded transactions
Zoning & alternative use
PI · 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%
$21,960,000
6.5%
$20,270,000
7%
$18,820,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$27,380,000
Change: -11% · Conversion: Easy
COMMERCIAL (GENERAL)
$26,425,000
Change: -14% · Conversion: Easy
RETAIL STORES
$25,895,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$17.74M
Range $15.97M – $19.51M · ±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
$201 / 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
$163,840
Tax year 2021
Assessed value
$18,977,811
Assessed 2022
Previous assessed
$18,977,811
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$4,663,913
Assessed improvement
$14,313,898
Land market value
$4,663,913
Improvement market value
$14,313,898
Total market value
$18,977,811
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Lease
Year built
1994
Heating
NONE
Cooling
YES
Total area
88,272 SF
Lot
5.87 ac (255,697 SF)
Zoning code
PI
APN
380320 532534 0000
UPID
US90-0966908
Jurisdiction
WHATCOM
Zoning & alternative use
PI · Bellingham, WA
Zoning PI · permitted uses
PI · 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
MEDICAL BUILDING
Est. value
$27.4M
COMMERCIAL (GENERAL)
Est. value
$26.4M
RETAIL STORES
Est. value
$25.9M
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1994
Heating
NONE
Cooling
Yes
Lot
5.87 ac
Current owner
From public records · entity-resolved
Kyle John Fox
Individual
Mailing address
2219 RIMLAND DR STE #115, BELLINGHAM, WA 98226-8661
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 27, 2021
—
Kyle John Fox
Wm Construction LLC
Warranty Deed
$350,500 · Bkco Mortgage LLC
—
—
Haggen Talbot Co LP
—
Deed Of Trust
related
$8,437,500 · Seafirst Bank
—
—
Haggen-talbot Co LP
—
Loan Modification
related
$12,460,000 · Bank Of America
—
—
Haggen-talbot Co
—
Deed Of Trust
related
$11,000,000 · Bank Of America
—
—
Haggen INC
—
Deed Of Trust
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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