Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2715 Meridian St Bellingham, WA 98225-2463

    • Office buildings
    • 3,476 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    $780,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1197900
    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

    • HireQuest Direct of Bellingham / Employment Agency
    • Bellingham Handmade / Charitable Organization / Social Service Agency

    Property Details for 2715 Meridian St

    Year built
    2002
    Lot size
    0.11 lot acres
    Property size
    3,476 SF
    Zone code
    CC
    Property type
    Office buildings
    APN
    380224 554200 0000
    APU
    3802245542000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $865,000
      6.5%
      $800,000
      7%
      $740,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $955,000
      Market price range: $874k - $1.66M
      AI Estimate
      $583,000
      Market price range: $298k - $1.05M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,195,000
      Current use
      MEDICAL BUILDING
      $1,080,000
      Change: -10% Conversion: Easy
      RETAIL STORES
      $1,020,000
      Change: -15% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $965,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellingham
    County
    Whatcom
    State
    Washington
    Longitude
    -122.486
    Latitude
    48.7662
    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
    $5,249
    $239,400
    $368,583
    $607,983
    -
    $239,400
    $368,583
    $607,983

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      1022 19th St

      PROFESSIONAL BUILDING • 0.09 Acres
      1022 19th St, Bellingham, WA 98225-6758
      View Details
    • Value Estimation by Request
      0.11 Acres

      1840 Iron St

      PROFESSIONAL BUILDING • 0.11 Acres
      1840 Iron St, Bellingham, WA 98225-4644
      View Details
    • Value Estimation
      $6,430,000
      31,107 SF

      405 32nd St

      PROFESSIONAL BUILDING • 31,107 SF
      405 32nd St, Bellingham, WA 98225-0951
      View Details
    • Value Estimation
      $1,410,000
      5,264 SF

      1700 D St

      PROFESSIONAL BUILDING • 5,264 SF
      1700 D St, Bellingham, WA 98225-3101
      View Details
    • Value Estimation
      $1,840,000
      7,458 SF

      1215 Old Fairhaven Pkwy

      PROFESSIONAL BUILDING • 7,458 SF
      1215 Old Fairhaven Pkwy, Bellingham, WA 98225-7444
      View Details
    • Value Estimation by Request
      0.19 Acres

      19th St

      PROFESSIONAL BUILDING • 0.19 Acres
      19th St, Bellingham, WA 98225
      View Details

    Similar Nearby for Sale

    • $2,500,000

      Downtown Bellingham Multi-Tenant Office Building

      Fully occupied office building in downtown Bellingham for sale.
      300 N Commercial St, Bellingham, WA 98225
      View Details
    • Contact for pricing
      7,771 SF

      Waterfront Office Building with Views

      Bellingham waterfront office building featuring 360-degree views and flexible floor plans.
      2925 Roeder Ave, Bellingham, WA 98225
      View Details
    • $2,150,000

      Downtown Bellingham Class A Building

      Class A building in downtown Bellingham with development potential.
      1501 Cornwall Ave, Bellingham, WA 98225
      View Details
    • $1,950,000
      6,816 SF

      Downtown Bellingham Office Building

      Stand-alone office building with finished basement and ample parking.
      1621 Cornwall Ave, Bellingham, WA 98225
      View Details
    • Contact for pricing
      24,165 SF

      Bellingham Office Property for Sale

      24,165 SF office property near waterfront redevelopment project.
      1315 Cornwall Ave, Bellingham, WA 98225
      View Details
    • $2,500,000
      5,567 SF

      Downtown Bellingham Office Building

      Office building with developable lot and bay views.
      215 Prospect St, Bellingham, WA 98225
      View Details

    Similar Nearby for Lease

    • $400 /Mo
      92 SF

      Medical Office Space Available

      Medical office space for lease in wellness clinic.
      102-104 Ohio St, Bellingham, WA 98225
      View Details
    • $16 SF/Yr
      2,423 SF

      Fairhaven Office Space Available

      Office space in Fairhaven Historic District, available 08/01/25.
      401 Harris Ave, Bellingham, WA 98225
      View Details
    • $12 SF/Yr
      16,000 SF

      Bellingham Office Space For Rent

      Office space available at Marine Drive and Bennett Drive.
      742 Marine Dr, Bellingham, WA 98225
      View Details
    • $16 SF/Yr
      62,665 SF

      Crown Plaza Bellingham Office Space

      Historic Bellingham Office Building, Flexible Suites
      114 Magnolia St, Bellingham, WA 98225
      View Details
    • $19 SF/Yr
      840 SF

      Office Space in Fountain District

      Office space for rent in a vibrant, growing community.
      2417 Meridian St, Bellingham, WA 98225
      View Details
    • Contact for pricing
      1,196 SF

      Upper Floor Office Space Available

      Centrally located office space with new heat pumps for lease.
      2509 Cedarwood Ave, Bellingham, WA 98225
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2715 Meridian St
    Bellingham, WA 98225-2463
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.