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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2236 Queen St Bellingham, WA 98229-4727

    • Industrial properties
    • 1,152 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    2.3%
    Industrial properties
    Location Intelligence
    Property ID
    US90-1353757
    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

    • Action Concrete Cutting Inc / Construction Company

    Property Details for 2236 Queen St

    Year built
    1945
    Lot size
    0.23 lot acres
    Property size
    1,152 SF
    Zone code
    LI
    Property type
    Industrial properties
    APN
    380329 248543 0000
    APU
    3803292485430000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $297,000
      Market price range: $130k - $298k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $210,000
      Current use
      OFFICE BUILDING
      $400,000
      Change: +92% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $380,000
      Change: +81% Conversion: Difficult
      MEDICAL BUILDING
      $355,000
      Change: +71% Conversion: Difficult
      RETAIL STORES
      $340,000
      Change: +61% Conversion: Moderate
      WAREHOUSE, STORAGE
      $230,000
      Change: +11% Conversion: Easy
      AUTO REPAIR, GARAGE
      $200,000
      Change: -5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellingham
    County
    Whatcom
    State
    Washington
    Longitude
    -122.454
    Latitude
    48.7602
    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
    $4,375
    $347,472
    $159,318
    $506,790
    -
    $347,472
    $159,318
    $506,790

    Comparable in this City

    • Value Estimation
      $3,400,000
      19,896 SF

      5090 Samish Way

      HEAVY INDUSTRIAL • 19,896 SF
      5090 Samish Way, Bellingham, WA 98229-8963
      View Details
    • Value Estimation
      $300,000
      2,460 SF

      1831 Racine St

      INDUSTRIAL (GENERAL) • 2,460 SF
      1831 Racine St, Bellingham, WA 98229-4737
      View Details
    • Value Estimation
      $320,000
      1,920 SF

      2010 Moore St

      CONSTRUCTION/CONTRACTING SERVICES • 1,920 SF
      2010 Moore St, Bellingham, WA 98229-5822
      View Details
    • Value Estimation
      $240,000
      775 SF

      2236 Pacific St

      CONSTRUCTION/CONTRACTING SERVICES • 775 SF
      2236 Pacific St, Bellingham, WA 98229-5824
      View Details
    • Value Estimation
      $330,000
      6,232 SF

      1410 Iowa St

      HEAVY INDUSTRIAL • 6,232 SF
      1410 Iowa St, Bellingham, WA 98229-4710
      View Details
    • Value Estimation
      $260,000
      6,000 SF

      1302 Meador Ave

      CONSTRUCTION/CONTRACTING SERVICES • 6,000 SF
      1302 Meador Ave, Bellingham, WA 98229-5802
      View Details

    Similar Nearby for Sale

    • $310,000
      1,302 SF

      Warehouse Condo in Gated Park

      Versatile warehouse condo with mezzanine, ideal for storage.
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    • $1,350,000

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      Versatile commercial building with shop, office, and service space.
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    • $7,800,000
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      Bellingham Industrial Property For Sale

      Single-tenant, NNN leased property near I-5 in central Bellingham.
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    • $1,350,000
      4,800 SF

      Bellingham Flex/Industrial Space For Sale

      4,800 SF flex/industrial property in Bellingham, WA.
      2020 Pacific St, Bellingham, WA 98229
      View Details
    • $1,450,000
      10,269 SF

      Bellingham Light Industrial Building

      Light industrial building with warehouse, mezzanine, office, and loading dock.
      2222 Queen St, Bellingham, WA 98229
      View Details
    • Contact for pricing

      Bellingham Land For Sale

      Land available for sale in Bellingham, Washington.
      1221 Lincoln St, Bellingham, WA 98229
      View Details

    Similar Nearby for Lease

    • $0.65 SF/Yr
      1,593 SF

      Industrial Space Near Downtown

      Light industrial/shop space near I-5 and downtown.
      2227 Queen St, Bellingham, WA 98229
      View Details
    • $17 SF/Yr
      400 SF

      Office Space For Lease

      Centrally located office space suitable for various service businesses.
      1333 Lincoln St, Bellingham, WA 98229
      View Details
    • $27 SF/Yr
      1,940 SF

      Bellingham Office Space For Rent

      Office space with excellent parking and convenient location near I-5.
      3800 Byron Ave, Bellingham, WA 98229
      View Details
    • $28 SF/Yr
      1,632 SF

      Restaurant Space Near Fred Meyer

      Move-in ready restaurant space with hood fan and extensive TI.
      1251 Lincoln St, Bellingham, WA 98229
      View Details
    • $17,500 /Mo
      6,600 SF

      Auto and Equipment Row Property

      Auto sales, repair, and equipment property for lease.
      1400 Iowa St, Bellingham, WA 98229
      View Details
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    2236 Queen St
    Bellingham, WA 98229-4727
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    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
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