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Property profile & analytics
OFF-MARKET
Estimated value
$4,620,000
Commercial real estate
245 32nd St Bellingham, WA 98225-0960
Entity Owned
5-yr Hold
Free & Clear
Property ID
US90-0868592
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2008
Total area
27,998 SF
Lot
0.32 ac (13,939 SF)
Zoning code
RM1.0
APN
380331 361007 0000
UPID
US90-0868592
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
-
Stoneway Apartments Apartment Complex
-
Cascade Land Develpment/PMC Development Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.47M
Comparable Approach
Comparable
$3.54M
Blend (final)
Blend
$4.62M
Owner & transaction history
Stoneway Investments LLC · 5 yrs held
Stoneway Investments LLC
since 2020
3 recorded transactions
Zoning & alternative use
RM1.0 · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,920,000
6.5%
$5,465,000
7%
$5,075,000
Blend value · Realmo final
$4.62M
Range $4.16M – $5.08M · ±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
$165 / 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
$46,874
Tax year 2021
Assessed value
$5,762,878
Assessed 2022
Previous assessed
$5,762,878
+0.0% YoY
Effective rate
0.81%
On assessed value
Assessed land
$1,045,440
Assessed improvement
$4,717,438
Land market value
$1,045,440
Improvement market value
$4,717,438
Total market value
$5,762,878
Applied tax rate
100.0000
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 (GENERAL)
Status
Off-Market
Year built
2008
Heating
FORCED AIR
Cooling
AC.FAN COOLING
Units
32
Total area
27,998 SF
Lot
0.32 ac (13,939 SF)
Zoning code
RM1.0
APN
380331 361007 0000
UPID
US90-0868592
Jurisdiction
WHATCOM
Zoning & alternative use
RM1.0 · Bellingham, WAZoning RM1.0 · permitted uses
RM1.0 · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2008
Heating
FORCED AIR
Cooling
Yes
Units
32
Lot
0.32 ac
Current owner
From public records · entity-resolved
Stoneway Investments LLC
Entity
Free & Clear · 5 yrs held
Mailing address
842 E WISER LK RD, LYNDEN, WA 98264-9671
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2020
—
Stoneway Investments LLC
—
Deed
related
$2,970,000 · Sabal Capital II LLC Sabal Capital II LLC
Nov 3, 2020
—
Stoneway Investments LLC
Cascade Land Dev Co
Quit Claim Deed
related
—
—
—
Stoneway Investments LLC
—
Deed Of Trust
related
$2,970,000 · Sabal Capital II LLC Sabal Capital II LLC
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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