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Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Retail space
2257 Northgate Spur Ferndale, WA 98248-8313
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US90-3321082
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1992
Total area
5,400 SF
Lot
2 ac (87,120 SF)
Zoning code
LII
APN
390207 337427 0000
UPID
US90-3321082
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
-
MSNW Group, LLC Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$990k
Comparable Approach
Comparable
$690k
Blend (final)
Blend
$880k
Owner & transaction history
Northgate Spur Holdings LLC · 17 yrs held
Northgate Spur Holdings LLC
since 2009
5 recorded transactions
Zoning & alternative use
LII · Ferndale, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Ferndale Municipal Code
Top alternative use upside
Commercial (general)
$1.4M
+4.7%
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 Ferndale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ferndale 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%
$1,075,000
6.5%
$990,000
7%
$920,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,360,000
Current use
COMMERCIAL (GENERAL)
$1,420,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$880k
Range $792k – $968k · ±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
$163 / 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
$7,424
Tax year 2021
Assessed value
$944,186
Assessed 2022
Previous assessed
$944,186
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$343,505
Assessed improvement
$600,681
Land market value
$343,505
Improvement market value
$600,681
Total market value
$944,186
Applied tax rate
2,020.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1992
Heating
SPACE
Cooling
YES
Total area
5,400 SF
Lot
2 ac (87,120 SF)
Zoning code
LII
APN
390207 337427 0000
UPID
US90-3321082
Jurisdiction
WHATCOM
Zoning & alternative use
LII · Ferndale, WAZoning LII · permitted uses
LII · Ferndale, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Ferndale Municipal Code
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1992
Heating
SPACE
Cooling
Yes
Lot
2 ac
Current owner
From public records · entity-resolved
Northgate Spur Holdings LLC
Entity
Mailing address
2257 NORTHGATE SPUR, FERNDALE, WA 98248-8313
Ownership since
2009
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
Mar 18, 2020
—
Northgate Spur Holdings LLC
—
Deed
related
$623,500 · Peoples Bank
May 29, 2009
$835,280
Northgate Spur Holdings LLC
West Coast B & R LLC
Warranty Deed
$515,505 · Wells Fargo Bank NA
Jul 21, 2005
$628,900
West Coast B & R LLC
Faturn LLC
Warranty Deed
$420,000 · Zions First National Bank
May 25, 2001
$373,200
Fatum LLC
Jh Kelly Investments INC
Grant Deed
$330,000 · Centennial Bank
—
—
Northgate Spur Holdings LLC
—
Deed Of Trust
related
$381,000 · Ameritrust Cdc
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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