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Property profile & analytics
OFF-MARKET
Commercial real estate
2305 Leatherwood Pl 5 Lynden, WA 98264-9198
Entity Owned
11-yr Hold
Property ID
US90-0806840
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Year built
2009
Total area
720 SF
Zoning code
IBZ
APN
400224 122315 0005
UPID
US90-0806840
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
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
Terpstra Family LLC · 11 yrs held
Terpstra Family LLC
since 2015
Last sale
$125,000
6 recorded transactions
Zoning & alternative use
IBZ · Lynden, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
IBZ (Industrial Business Zone) - A light industrial zone that permits a mixture of industrial and commercial uses. 19.25.020 Purpose. The intent of the industrial zones is to provide a location for business and industrial uses in order to provide employment opportunities to the residents of the City of Lynden and surrounding area. From each use located there…
Zone name
Industrial Business Zone
General category
INDUSTRIAL
Zone area
284.54 ac
Source
Complete Zoning Ordinance
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 Lynden submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lynden 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
$632
Tax year 2021
Assessed value
$79,792
Assessed 2022
Previous assessed
$79,792
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$10,712
Assessed improvement
$69,080
Land market value
$10,712
Improvement market value
$69,080
Total market value
$79,792
Applied tax rate
400.0000
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
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Status
Off-Market
Year built
2009
Heating
NONE
Total area
720 SF
Zoning code
IBZ
APN
400224 122315 0005
UPID
US90-0806840
Jurisdiction
WHATCOM
Zoning & alternative use
IBZ · Lynden, WAZoning IBZ · permitted uses
IBZ · Lynden, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
IBZ (Industrial Business Zone) - A light industrial zone that permits a mixture of industrial and commercial uses. 19.25.020 Purpose. The intent of the industrial zones is to provide a location for business and industrial uses in order to provide employment opportunities to the residents of the City of Lynden and surrounding area. From each use located therein there shall be a minimum of air pollution, air contamination, emission of odor, gases, noise and the origin of sewage wastes which shall be controlled in accordance with the standards contained in this
Zone name
Industrial Business Zone
General category
INDUSTRIAL
Zone area
284.54 ac
Source
Complete Zoning Ordinance
Building & site characteristics
From public records
Year built
2009
Heating
NONE
Current owner
From public records · entity-resolved
Terpstra Family LLC
Entity
Mailing address
1161 E FRNT ST, LYNDEN, WA 98264-1656
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2015
—
Terpstra Family LLC
Terpstra,greg & Nicole
Quit Claim Deed
related
—
Aug 2, 2013
$55,000
Greg E Terpstra
Lynden Business Park Storage L
Warranty Deed
$30,000 · Lynden Business Park Storage L
Feb 22, 2012
—
Business Park Storage L Lynden
—
Deed Of Trust
related
$2,001,898 · Jjm Us Holdings INC
Jan 19, 2012
—
Lynden Business Park LLP
Jsh Properties INC
Grant Deed
related
—
Dec 22, 2011
$3,000,000
Lynden Business Park LLP
Jsh Properties INC
Grant Deed
—
Oct 9, 2009
—
West Lynden Business Park LLC
Windward Consulting LLC
Quit Claim Deed
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.
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