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Property profile & analytics
OFF-MARKET
Individual retail properties
3230 Meridian St Bellingham, WA 98225-1728
Individually Owned
14-yr Hold
~
Est. High Equity
Property ID
US90-0152625
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
1976
Total area
9,421 SF
Lot
0.81 ac (35,284 SF)
Zoning code
RS7.2
APN
380319 011510 0000
UPID
US90-0152625
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 Coding and Robotics Club Tutoring Service Training Center
-
Mosaic Church Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
St Pauls Episcopal School · 14 yrs held
St Pauls Episcopal School
since 2011
5 recorded transactions
Zoning & alternative use
RS7.2 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$11,607
Tax year 2024
Assessed value
$1,492,823
Assessed 2023
Previous assessed
$1,492,823
+0.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$317,556
Assessed improvement
$1,175,267
Land market value
$317,556
Improvement market value
$1,175,267
Total market value
$1,492,823
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
1976
Heating
FORCED AIR
Cooling
YES
Total area
9,421 SF
Lot
0.81 ac (35,284 SF)
Zoning code
RS7.2
APN
380319 011510 0000
UPID
US90-0152625
Jurisdiction
WHATCOM
Zoning & alternative use
RS7.2 · Bellingham, WA
Zoning RS7.2 · permitted uses
RS7.2 · 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
1976
Heating
FORCED AIR
Cooling
Yes
Lot
0.81 ac
Current owner
From public records · entity-resolved
St Pauls Episcopal School
Individual
Mailing address
3000 NWNW AVE, BELLINGHAM, WA 98225-1607
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2011
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 20, 2011
$725,000
St Pauls Episcopal School
Mike & Bob Properties Meridian
Warranty Deed
$500,000 · Whidbey Island Bank
Aug 9, 2007
—
Boys Club Of Whatcom County INC
Muljat Group
Quit Claim Deed
related
—
Nov 27, 2002
—
Mike Meridian
Watters,michael S
Grant Deed
related
—
Nov 14, 2002
—
Michael S Watters
Boys Club Of Washington County
Grant Deed
$405,000 · Boys Club Of Washington County
—
—
Mike & Bob Props Meridian LLC
—
Deed Of Trust
related
$650,000 · Horizon 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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