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Property profile & analytics
OFF-MARKET
Estimated value
$1,265,000
Assisted living facilities
2905 Connelly Ave, Bellingham, WA 98225-8225
Entity Owned
19-yr Hold
Free & Clear
Property ID
US90-0942268
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1992
Total area
57,728 SF
Lot
4.68 ac (203,861 SF)
Zoning code
PRM4.0
APN
370307 178416 0000
UPID
US90-0942268
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
-
Wendy Binning, PTA Medical Clinic
-
Annette Kennedy, PSYD Physician
-
Mt Baker Care Center Nursing Home
-
Barbara M. Fossen, MOT Physician
-
Clay & Davs Mt Bkr Development Llc General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.27M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.27M
Owner & transaction history
Clay Davis Bellingham LLC · 19 yrs held
Clay Davis Bellingham LLC
since 2007
1 recorded transaction
Zoning & alternative use
PRM4.0 · 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
$1,265,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.27M
Range $1.14M – $1.39M · ±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
$22 / 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
$89,278
Tax year 2021
Assessed value
$10,685,262
Assessed 2022
Previous assessed
$10,685,262
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$2,516,800
Assessed improvement
$8,168,462
Land market value
$2,516,800
Improvement market value
$8,168,462
Total market value
$10,685,262
Applied tax rate
111.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1992
Heating
HEAT PUMP
Cooling
EVAPORATIVE
Total area
57,728 SF
Lot
4.68 ac (203,861 SF)
Zoning code
PRM4.0
APN
370307 178416 0000
UPID
US90-0942268
Jurisdiction
WHATCOM
Zoning & alternative use
PRM4.0 · Bellingham, WA
Zoning PRM4.0 · permitted uses
PRM4.0 · 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.
Building & site characteristics
From public records
Year built
1992
Heating
HEAT PUMP
Cooling
Yes
Lot
4.68 ac
Current owner
From public records · entity-resolved
Clay Davis Bellingham LLC
Entity
Free & Clear · 19 yrs held
Mailing address
970 5TH AVE NW, ISSAQUAH, WA 98027-2469
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 2, 2007
—
Clay Davis Bellingham LLC
Clay & Davis Mt Baker Dev 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.
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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