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    Property profile & analytics

    2376 Main St, Unit 2A2 Ferndale, WA 98248-8605

    • Office Properties & Spaces
    • 1,251 SF
    • 0.12 lot acres
    OFF-MARKET
    Value Estimations
    $350,000
    Show details
    Cap Rate Potential
    5.3%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US90-0071660
    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

    • London Health Center, Inc / Medical Center / Alternative Medicine Practitioner
    • Ferndale Chiropractic - Pierre Constantin / Massage Therapist / Chiropractor
    • Whatcom Lotus Yoga / Yoga Studio
    • Khore D. Phoenix, BS / Massage Therapist
    • Therese Kelliher, LMP / Massage Therapist / Doctor

    Property Details for 2376 Main St

    Year built
    1995
    Lot size
    0.12 lot acres
    Property size
    1,251 SF
    Zone code
    RM1.5
    Property type
    Office Properties & Spaces
    APN
    390219 142009 0004
    APU
    3902191420090004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $310,000
      6.5%
      $285,000
      7%
      $265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $434,000
      Market price range: $210k - $516k
      AI Estimate
      $262,000
      Market price range: $131k - $280k

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

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Whatcom
    State
    Washington
    Longitude
    -122.611
    Latitude
    48.8486
    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
    $1,507
    $70,644
    $200,598
    $271,242
    -
    $70,644
    $200,598
    $271,242

    Comparable in this City

    • Value Estimation
      $295,000
      1,102 SF

      6046 Portal Way, Unit 202

      CONDOMINIUM OFFICES • 1,102 SF
      6046 Portal Way, Ferndale, WA 98248-7829
      View Details
    • Value Estimation
      $260,000
      1,102 SF

      6046 Portal Way, Unit 204

      CONDOMINIUM OFFICES • 1,102 SF
      6046 Portal Way, Ferndale, WA 98248-7829
      View Details
    • Value Estimation
      $590,000
      3,508 SF

      5160 Industrial Ple

      CONDOMINIUM OFFICES • 3,508 SF
      5160 Industrial Ple, Ferndale, WA 98248-7819
      View Details
    • Value Estimation
      $765,000
      3,508 SF

      5160 Industrial Plb

      CONDOMINIUM OFFICES • 3,508 SF
      5160 Industrial Plb, Ferndale, WA 98248-7819
      View Details
    • Value Estimation
      $285,000
      1,110 SF

      6044 Portal Way Ste, Unit 101

      CONDOMINIUM OFFICES • 1,110 SF
      6044 Portal Way Ste, Ferndale, WA 98248-7828
      View Details
    • Value Estimation
      $715,000
      3,867 SF

      5060 Pacific Hwy Ste, Unit 151

      CONDOMINIUM OFFICES • 3,867 SF
      5060 Pacific Hwy Ste, Ferndale, WA 98248-7822
      View Details

    Similar Nearby for Sale

    • $328,000

      concrete floors

      utility sink
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      Ferndale Commercial Building - Main Street

      High-visibility Ferndale commercial space. Ideal for retail & warehouse.
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    • $1,500,000
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      Ferndale Industrial Land - $1.5M

      16.88-acre industrial land, prime location.
      5391 Labounty Dr, Ferndale, WA 98248
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    • $299,000

      Development Ready Land Parcel

      Level parcel with mitigation plan, ready for development.
      Barrett Rd, Ferndale, WA 98248
      View Details
    • $699,000
      5,656 SF

      Visible Building in Central Whatcom

      Stand-alone building in shell condition, ready for its next phase.
      1990 Main St, Ferndale, WA 98248
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    • $7,150,000

      Entitled Land in Growing Area

      Land for sale with permits in rapidly growing area.
      5082-5094 Labounty Rd, Ferndale, WA 98248
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    Similar Nearby for Lease

    • $16 SF/Yr
      2,000 SF

      Ferndale Corner Office Space

      Corner office space in the heart of Ferndale.
      1943 Main St, Ferndale, WA 98248
      View Details
    • $20 SF/Yr
      7,158 SF

      New Retail & Office Space

      New construction retail and office space in a growing area.
      6252 Portal Way, Ferndale, WA 98248
      View Details
    • $950 /Mo
      802 SF

      Bright Office Space Near Ferndale

      Modern office suites with natural light and secure access.
      2413 Main St, Ferndale, WA 98248
      View Details
    • $10 SF/Yr
      5,440 SF

      Versatile Ferndale Property For Rent

      Campus-style property ideal for school, daycare, or office use.
      5942 Portal Way, Ferndale, WA 98248
      View Details
    • $24 SF/Yr
      28,000 SF

      Ferndale Crossings Medical Office Space

      Prime Ferndale Retail/Office Opportunity
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      View Details
    • $15 SF/Yr
      3,571 SF

      Turn-Key Ferndale Office Space

      Furnished office space in Ferndale with hard offices and workstations.
      5616 3Rd Ave, Ferndale, WA 98248
      View Details
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    Ferndale, WA 98248-8605
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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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