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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Office buildings
3219 Meridian St, Bellingham, WA 98225-1727
Trust Owned
Free & Clear
Property ID
US90-1253104
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1956
Total area
1,612 SF
Lot
0.53 ac (23,257 SF)
Zoning code
RS15.0
APN
380224 555495 0000
UPID
US90-1253104
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
-
Jake Squires - State Farm Insurance Agent Insurance Agency
-
Tax Relief Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$800k
CAP Approach
CAP
$370k
Comparable Approach
Comparable
$502k
Blend (final)
Blend
$595k
Owner & transaction history
Jacob Isaac Squires Living Trust
Jacob Isaac Squires Living Trust
since 2026
Last sale
$600,000
3 recorded transactions
Zoning & alternative use
RS15.0 · 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
$675,000
ML approach
$800,000
CAP Approach
CAP Return
Estimation
6%
$400,000
6.5%
$370,000
7%
$345,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$555,000
Current use
MEDICAL BUILDING
$500,000
Change: -10% · Conversion: Easy
RETAIL STORES
$475,000
Change: -15% · Conversion: Moderate
COMMERCIAL (GENERAL)
$450,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$595k
Range $536k – $655k · ±10% · vs last sale $600k (Nov 3 2023)
Last sale anchor
$600k
Nov 3 2023
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
$369 / 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
$2,758
Tax year 2021
Assessed value
$319,444
Assessed 2022
Previous assessed
$319,444
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$238,596
Assessed improvement
$80,848
Land market value
$238,596
Improvement market value
$80,848
Total market value
$319,444
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1956
Heating
FORCED AIR
Cooling
AC.FAN COOLING
Total area
1,612 SF
Lot
0.53 ac (23,257 SF)
Zoning code
RS15.0
APN
380224 555495 0000
UPID
US90-1253104
Jurisdiction
WHATCOM
Zoning & alternative use
RS15.0 · Bellingham, WA
Zoning RS15.0 · permitted uses
RS15.0 · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$555,000
MEDICAL BUILDING
Est. value
$500,000
RETAIL STORES
Est. value
$475,000
COMMERCIAL (GENERAL)
Est. value
$450,000
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
1956
Heating
FORCED AIR
Cooling
Yes
Lot
0.53 ac
Current owner
From public records · entity-resolved
Jacob Isaac Squires Living Trust
Trust
Free & Clear · 0 yrs held
Mailing address
3219 MERIDIAN ST, BELLINGHAM, WA 98225-1727
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
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
May 4, 2026
$313
Jacob Isaac Squires Living Trust
Isaac Squires
Quitclaim Deed
related
—
Nov 3, 2023
$600,000
Jacob I Squires
James Ralph Harber
Warranty Deed
—
Oct 13, 2020
—
Harber,j & T Living Trust
James J R Harber
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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