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Property profile & analytics
OFF-MARKET
Estimated value
$26,745,000
Industrial properties
3225 Woburn St Bellingham, WA 98226-5650
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-2012122
Property profile
Verified
Property type
Industrial properties
Use group
HEAVY INDUSTRIAL
Year built
1990
Total area
200,359 SF
Lot
15.29 ac (666,032 SF)
Zoning code
PI
APN
380320 459515 0000
UPID
US90-2012122
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
-
Trulife Engineered Solutions Industrial Manufacturer
-
Trulife Orthotics & Prosthetics Service Shoe Store
-
Cascade Joinery Construction Company General Contractor
-
Janicki Industries - Bellingham Industrial Manufacturer Production Facility
-
Rebound Families Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$19.04M
Comparable Approach
Comparable
$34.70M
Blend (final)
Blend
$26.75M
Owner & transaction history
3225 Woburn LLC · 4 yrs held
3225 Woburn LLC
since 2021
Last sale
$25.0M
5 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
$29,975,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$20,625,000
6.5%
$19,040,000
7%
$17,680,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$42,105,000
Current use
WAREHOUSE, STORAGE
$40,420,000
Change: -4% · Conversion: Easy
AUTO REPAIR, GARAGE
$34,705,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$26.75M
Range $24.07M – $29.42M · ±10% · vs last sale $25.00M (Dec 21 2021)
Last sale anchor
$25.00M
Dec 21 2021
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
$133 / 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
$170,184
Tax year 2021
Assessed value
$20,227,035
Assessed 2022
Previous assessed
$20,227,035
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$6,514,597
Assessed improvement
$13,712,438
Land market value
$6,514,597
Improvement market value
$13,712,438
Total market value
$20,227,035
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
Industrial properties
Use group
HEAVY INDUSTRIAL
Status
Off-Market
Year built
1990
Heating
YES
Cooling
YES
Total area
200,359 SF
Lot
15.29 ac (666,032 SF)
Zoning code
PI
APN
380320 459515 0000
UPID
US90-2012122
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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$42.1M
WAREHOUSE, STORAGE
Est. value
$40.4M
AUTO REPAIR, GARAGE
Est. value
$34.7M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
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
1990
Heating
YES
Cooling
Yes
Lot
15.29 ac
Current owner
From public records · entity-resolved
3225 Woburn LLC
Entity
Mailing address
719 METCALF ST, SEDRO WOOLLEY, WA 98284-1420
Ownership since
2021
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
Apr 10, 2025
—
Woburn LLC
—
Deed
related
$5,000,000 · Wells Fargo Bank NA
Sep 25, 2024
—
3225 Woburn LLC
—
Deed
related
$13,875,000 · Wells Fargo Bank NA
Dec 21, 2021
$25,000,000
3225 Woburn LLC
Safran Cabin Bellingham INC
Bargain And Sale Deed
$19,500,000 · Wells Fargo Bank NA
Apr 19, 2017
—
Heath Tecna INC
Heath Tecna INC
Quit Claim Deed
related
—
Jan 6, 2006
—
Heath Tecna INC
—
Deed Of Trust
related
$140,000,000 · Governor & Co Bank Scotland
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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