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Property profile & analytics
OFF-MARKET
Office buildings
2218 Pacific St, Bellingham, WA 98229-5824
Individually Owned
1-yr Hold
Property ID
US90-0108314
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1910
Total area
1,148 SF
Lot
0.12 ac (5,079 SF)
Zoning code
LI
APN
380329 213529 0000
UPID
US90-0108314
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
-
Jalapeños Corporate Office Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Khai Quoc Truong · 1 yrs held
Khai Quoc Truong
since 2025
Last sale
$448,000
4 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,030
Tax year 2021
Assessed value
$350,911
Assessed 2022
Previous assessed
$350,911
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$191,110
Assessed improvement
$159,801
Land market value
$191,110
Improvement market value
$159,801
Total market value
$350,911
Applied tax rate
100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Off-Market
Year built
1910
Heating
HEAT PUMP
Stories
2
Bathrooms
1
Total area
1,148 SF
Lot
0.12 ac (5,079 SF)
Zoning code
LI
APN
380329 213529 0000
UPID
US90-0108314
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
1910
Heating
HEAT PUMP
Stories
2
Bathrooms
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Khai Quoc Truong
Individual
Mailing address
2218 PACIFIC ST, BELLINGHAM, WA 98229-5824
Ownership since
2025
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
Apr 28, 2025
$448,000
Khai Quoc Truong
Jose J Cantu
Warranty Deed
—
Sep 20, 2012
$160,000
Jose J Cantu
Kortlever,donna L
Warranty Deed
$100,000 · Whidbey Island Bank
Dec 17, 2007
—
Donna L Kortlever
Kortlever,glen M
Quit Claim Deed
—
Feb 23, 2005
$210,000
Glen M Kortlever
Neal S Robinson
Warranty Deed
$157,500 · Bank Northwest
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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