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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Banks
3101 Newmarket St Bellingham, WA 98226-3801
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-1481916
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2008
Total area
5,333 SF
Lot
0.39 ac (16,967 SF)
Zoning code
PICR
APN
380320 535434 0000
UPID
US90-1481916
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
-
Salish Wealth Management Financial Advisor
-
Cassandra Raugh Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$520k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$636k
Blend (final)
Blend
$580k
Owner & transaction history
Peoples Bk · 6 yrs held
Peoples Bk
since 2020
7 recorded transactions
Zoning & alternative use
PICR · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$790,000
+116.4%
Retail stores
$520,000
+42.5%
Restaurant
$500,000
+37.2%
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
$520,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$365,000
Current use
APARTMENT HOUSE (5+ UNITS)
$790,000
Change: +116% · Conversion: Difficult
RETAIL STORES
$520,000
Change: +42% · Conversion: Difficult
RESTAURANT
$500,000
Change: +37% · Conversion: Difficult
AUTO REPAIR, GARAGE
$445,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$435,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$109 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$28,608
Tax year 2024
Assessed value
$3,679,458
Assessed 2023
Previous assessed
$3,314,827
+11.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$644,063
Assessed improvement
$3,035,395
Land market value
$644,063
Improvement market value
$3,035,395
Total market value
$3,679,458
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2008
Heating
NONE
Cooling
YES
Total area
5,333 SF
Lot
0.39 ac (16,967 SF)
Zoning code
PICR
APN
380320 535434 0000
UPID
US90-1481916
Jurisdiction
WHATCOM
Zoning & alternative use
PICR · Bellingham, WA
Zoning PICR · permitted uses
PICR · 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
FINANCIAL BUILDING Current
Est. value
$365,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$790,000
RETAIL STORES
Est. value
$520,000
RESTAURANT
Est. value
$500,000
AUTO REPAIR, GARAGE
Est. value
$445,000
MEDICAL BUILDING
Est. value
$435,000
FINANCIAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2008
Heating
NONE
Cooling
Yes
Lot
0.39 ac
Current owner
From public records · entity-resolved
Peoples Bk
Individual
Mailing address
3101 NEWMARKET ST, BELLINGHAM, WA 98226-3801
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 8, 2020
—
Peoples Bk
3101 Newmarket LLC
Grant Deed
related
—
Aug 1, 2018
—
3101 Newmarket LLC
—
Deed
related
$2,550,000 · Banner Bk
Sep 3, 2008
—
3101 Newmarket LLC
Owner Name Unavailable
Quit Claim Deed
related
—
Jul 20, 2007
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
Jun 29, 2007
—
Record Owner
Owner,record
Quit Claim Deed
related
—
—
—
3101 Newmarket LLC
—
Deed Of Trust
related
$2,550,000 · Banner Bk
—
—
3101 Newmarket LLC
—
Deed Of Trust
related
$3,000,000 · Banner Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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