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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Retail space
2520 James St Bellingham, WA 98225-3545
Entity Owned
8-yr Hold
Free & Clear
Property ID
US90-0415275
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1977
Total area
2,865 SF
Lot
0.56 ac (24,350 SF)
Zoning code
NC10B
APN
380319 558107 0000
UPID
US90-0415275
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
-
Vision Plus on James Eye Care Center Optometrist
-
Dr. Dustin Mcgill Physician
-
Mark Potomak Physician
-
Dr. Mark Aginsky Physician
-
Deborah Wu Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$525k
Comparable Approach
Comparable
$675k
Blend (final)
Blend
$665k
Owner & transaction history
Eyeco Real Estate Holdings LP · 8 yrs held
Eyeco Real Estate Holdings LP
since 2017
7 recorded transactions
Zoning & alternative use
NC10B · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$985,000
+17.1%
Medical building
$890,000
+5.7%
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 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%
$570,000
6.5%
$525,000
7%
$490,000
Alternative Use
Use
Estimation
RETAIL STORES
$840,000
Current use
OFFICE BUILDING
$985,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$890,000
Change: +6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$795,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$665k
Range $599k – $732k · ±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
$232 / 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
$9,447
Tax year 2021
Assessed value
$1,094,269
Assessed 2022
Previous assessed
$1,094,269
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$749,493
Assessed improvement
$344,776
Land market value
$749,493
Improvement market value
$344,776
Total market value
$1,094,269
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1977
Heating
NONE
Cooling
YES
Total area
2,865 SF
Lot
0.56 ac (24,350 SF)
Zoning code
NC10B
APN
380319 558107 0000
UPID
US90-0415275
Jurisdiction
WHATCOM
Zoning & alternative use
NC10B · Bellingham, WA
Zoning NC10B · permitted uses
NC10B · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bellingham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$840,000
OFFICE BUILDING
Est. value
$985,000
MEDICAL BUILDING
Est. value
$890,000
COMMERCIAL (GENERAL)
Est. value
$795,000
RETAIL STORES Current
OFFICE BUILDING
MEDICAL BUILDING
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
1977
Heating
NONE
Cooling
Yes
Lot
0.56 ac
Current owner
From public records · entity-resolved
Eyeco Real Estate Holdings LP
Entity
Free & Clear · 8 yrs held
Mailing address
2520 JAMES ST, BELLINGHAM, WA 98225-3545
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 24, 2022
—
Eyeco Real Estate Holdings LP
—
Deed
related
$675,000 · Heritage Southeast Bank
Oct 30, 2017
—
Eyeco Real Estate Holdings LP
—
Trustees Deed
related
$401,277 · Heritage Bk
Sep 27, 2017
—
Eyeco Real Estate Holdings LP
Aginsky,mark D
Quit Claim Deed
related
—
Feb 5, 2010
$750,000
Owner Name Unavailable
Owner Name Unavailable
Grant Deed
—
Feb 5, 2010
—
Mark D Aginsky
Owner Name Unavailable
Quit Claim Deed
related
—
Dec 31, 2008
—
Horizon Bk
Horizon Finl Corp
Quit Claim Deed
—
Sep 30, 2008
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
Sep 23, 2008
—
Horizon Finl Corp
Horizon Bk
Quit Claim Deed
—
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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