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Property profile & analytics
OFF-MARKET
Estimated value
$1,680,000
Medical Office Space
3232 Squalicum Pkwy Bellingham, WA 98225-1932
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US90-2601570
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2017
Total area
9,857 SF
Lot
0.4 ac (17,263 SF)
Zoning code
IN
APN
380319 476443 0000
UPID
US90-2601570
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
-
Pacific Northwest Urology Specialists Medical Clinic
-
St Joseph Hospital Center-Rehab Rehabilitation Center
-
Maryallyn Alden Physician
-
Kelly June Casperson Physician Medical Clinic
-
Daniel Hunter Roeter Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.49M
Comparable Approach
Comparable
$1.61M
Blend (final)
Blend
$1.68M
Owner & transaction history
Northwest Urologic Technical S · 10 yrs held
Northwest Urologic Technical S
since 2015
3 recorded transactions
Zoning & alternative use
IN · 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%
$1,615,000
6.5%
$1,490,000
7%
$1,385,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,740,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$1.68M
Range $1.51M – $1.85M · ±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
$170 / 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
$23,557
Tax year 2021
Assessed value
$2,728,611
Assessed 2022
Previous assessed
$2,728,611
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$590,360
Assessed improvement
$2,138,251
Land market value
$590,360
Improvement market value
$2,138,251
Total market value
$2,728,611
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
2017
Heating
NONE
Cooling
YES
Total area
9,857 SF
Lot
0.4 ac (17,263 SF)
Zoning code
IN
APN
380319 476443 0000
UPID
US90-2601570
Jurisdiction
WHATCOM
Zoning & alternative use
IN · Bellingham, WA
Zoning IN · permitted uses
IN · 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)
Est. value
$2.7M
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
2017
Heating
NONE
Cooling
Yes
Lot
0.4 ac
Current owner
From public records · entity-resolved
Northwest Urologic Technical S
Individual
Mailing address
3232 SQUALICUM PKWY, BELLINGHAM, WA 98225-1932
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
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
Apr 27, 2016
—
Northwest Urologic Technical
—
Trustees Deed
related
$4,750,000 · Wells Fargo Bk
Sep 22, 2015
$890,000
Northwest Urologic Technical S
Squalicum Medical Property LLC
Warranty Deed
$450,000 · Whatcom Educational Cu
Oct 3, 2006
$671,646
Squalicum Medical Property LLC
Parkway
Warranty Deed
$403,000 · Whidbey Island 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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