New search
Property profile & analytics
OFF-MARKET
Estimated value
$35,480,000
Investment properties
3102 Newmarket St, Bellingham, WA 98226-8694
Entity Owned
13-yr Hold
Property ID
US90-2044007
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2014
Total area
159,238 SF
Lot
1.55 ac (67,518 SF)
Zoning code
PICR
APN
380320 550447 0000
UPID
US90-2044007
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
-
Carmen Denson - Umpqua Bank Loan Service Bank
-
Dylan Langei - Umpqua Bank Loan Service Bank
-
Dave Schwab - Umpqua Bank Loan Service
-
Nick Borg - Umpqua Bank Home Lending Loan Service Bank
-
Lena Shammel - Umpqua Bank Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$31.09M
Comparable Approach
Comparable
$43.94M
Blend (final)
Blend
$35.48M
Owner & transaction history
3102 Newmarket LLC · 13 yrs held
3102 Newmarket LLC
since 2013
5 recorded transactions
Zoning & alternative use
PICR · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$55.6M
+16.6%
Medical building
$49.4M
+3.6%
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%
$33,680,000
6.5%
$31,090,000
7%
$28,870,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$47,670,000
Current use
OFFICE BUILDING
$55,590,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$49,390,000
Change: +4% · Conversion: Easy
RETAIL STORES
$46,710,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$35.48M
Range $31.93M – $39.03M · ±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
$223 / 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
$226,825
Tax year 2021
Assessed value
$26,734,473
Assessed 2022
Previous assessed
$26,734,473
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$1,801,380
Assessed improvement
$24,933,093
Land market value
$1,801,380
Improvement market value
$24,933,093
Total market value
$26,734,473
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2014
Heating
NONE
Buildings
2
Total area
159,238 SF
Lot
1.55 ac (67,518 SF)
Zoning code
PICR
APN
380320 550447 0000
UPID
US90-2044007
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
COMMERCIAL (GENERAL) Current
Est. value
$47.7M
OFFICE BUILDING
Est. value
$55.6M
MEDICAL BUILDING
Est. value
$49.4M
RETAIL STORES
Est. value
$46.7M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
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
2014
Heating
NONE
Buildings
2
Lot
1.55 ac
Current owner
From public records · entity-resolved
3102 Newmarket LLC
Entity
Mailing address
2219 RIMLAND DR STE #115, BELLINGHAM, WA 98226-8661
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2019
—
3102 Newmarket LLC
—
Deed
related
$15,878,567 · Washington Fed'l Bk
May 9, 2019
—
3102 Newmarket LLC
—
Deed
related
$15,500,000 · Washington Fed'l Svgs
Jun 17, 2013
—
3102 Newmarket LLC
Talbot Real Estate LLC
Quit Claim Deed
related
—
—
—
3102 Newmarket LLC
—
Deed Of Trust
related
$15,500,000 · Washington Fed'l Svgs
—
—
3102 Newmarket LLC
—
Deed Of Trust
related
$15,878,567 · Washington Fed'l Bk
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3102 Newmarket St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
