Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$995,000
Medical Office Space
3125 Howe Pl Bellingham, WA 98226-5634
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1168549
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2019
Total area
8,302 SF
Lot
0.37 ac (16,152 SF)
Zoning code
PI
APN
380320 431464 0000
UPID
US90-1168549
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
-
Bellingham Bay Ophthalmology, PLLC Physician
-
Dr. James Kim Ophthalmologist
-
Timothy Ekhlassi Ophthalmologist
-
James Min Kim Ophthalmologist
-
Timothy Arash Ekhlassi Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.26M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$995k
Owner & transaction history
Jm & Jy Real Estate LLC · 9 yrs held
Jm & Jy Real Estate LLC
since 2017
3 recorded transactions
Zoning & alternative use
PI · 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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,360,000
6.5%
$1,255,000
7%
$1,165,000
Blend value · Realmo final
$995k
Range $896k – $1.09M · ±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
$120 / 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
$14,880
Tax year 2021
Assessed value
$1,723,597
Assessed 2022
Previous assessed
$1,723,597
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$478,805
Assessed improvement
$1,244,792
Land market value
$478,805
Improvement market value
$1,244,792
Total market value
$1,723,597
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2019
Heating
NONE
Cooling
EVAPORATIVE
Total area
8,302 SF
Lot
0.37 ac (16,152 SF)
Zoning code
PI
APN
380320 431464 0000
UPID
US90-1168549
Jurisdiction
WHATCOM
Zoning & alternative use
PI · Bellingham, WA
Zoning PI · permitted uses
PI · 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
2019
Heating
NONE
Cooling
Yes
Lot
0.37 ac
Current owner
From public records · entity-resolved
Jm & Jy Real Estate LLC
Entity
Free & Clear · 9 yrs held
Mailing address
1130 N FRST ST, BELLINGHAM, WA 98225-5120
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2024
—
Jm And Jy Real Estate LLC
—
Deed
related
$360,761 · Umpqua Bank
Nov 16, 2018
—
Jm & Jy Real Estate LLC
—
Trustees Deed
related
$1,505,000 · Columbia St Bk
Feb 24, 2017
$350,000
Jm & Jy Real Estate LLC
Talbot Real Estate LLC
Warranty 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.
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 3125 Howe Pl?
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.
