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Property profile & analytics
FOR SALE
Medical Office Space
340 Birchwood Ave Bellingham, WA 98225
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US90-3036889
For Sale
$4,800,000
340 Birchwood Ave, Bellingham, WA 98225
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2001
Total area
7,516 SF
Lot
0.82 ac (35,824 SF)
Zoning code
LIL
APN
380318 245085 0000
UPID
US90-3036889
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 Urology Group Medical Clinic
-
Curran James Emeruwa Physician Medical Clinic
-
Dr. Vernon Orton Physician Medical Clinic
-
Dr. John Pettit Physician Medical Clinic
-
Curran J. Emeruwa, MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.14M
Comparable Approach
Comparable
$1.77M
Blend (final)
Blend
$1.72M
Owner & transaction history
Bellingham Urology Properties LLC · 18 yrs held
Bellingham Urology Properties LLC
since 2008
7 recorded transactions
Zoning & alternative use
LIL · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.6M
+10.7%
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%
$1,230,000
6.5%
$1,135,000
7%
$1,055,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,330,000
Current use
OFFICE BUILDING
$2,580,000
Change: +11% · Conversion: Easy
RETAIL STORES
$2,205,000
Change: -5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,090,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$1.72M
Range $1.54M – $1.89M · ±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
$228 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$23,271
Tax year 2024
Assessed value
$2,992,989
Assessed 2023
Previous assessed
$2,696,387
+11.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$1,082,592
Assessed improvement
$1,910,397
Land market value
$1,082,592
Improvement market value
$1,910,397
Total market value
$2,992,989
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
For Sale
Year built
2001
Heating
NONE
Cooling
YES
Total area
7,516 SF
Lot
0.82 ac (35,824 SF)
Zoning code
LIL
APN
380318 245085 0000
UPID
US90-3036889
Jurisdiction
WHATCOM
Zoning & alternative use
LIL · Bellingham, WA
Zoning LIL · permitted uses
LIL · 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
MEDICAL BUILDING Current
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.6M
RETAIL STORES
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$2.1M
MEDICAL BUILDING Current
OFFICE 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
2001
Heating
NONE
Cooling
Yes
Lot
0.82 ac
Current owner
From public records · entity-resolved
Bellingham Urology Properties LLC
Entity
Mailing address
340 BIRCHWOOD AVE, BELLINGHAM, WA 98225-1782
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2021
—
Bellingham Urology Properties LLC
—
Deed
related
$2,825,000 · First Fsla Of Port Angeles
Jun 25, 2008
$2,701,280
Bellingham Urology Properties LLC
Cuc Properties LLC
Bargain And Sale Deed
$2,295,000 · Peoples Bank
Apr 4, 2000
—
Cuc Properties LLC
Cascade Urology Consultants In
Quit Claim Deed
related
—
Oct 26, 1999
$416,962
Cascade Urology Consultants
Laekview Associates
Grant Deed
$268,800 · Us Bank NA
—
—
Cuc Properties LLC
—
Deed Of Trust
related
$100,000 · Peoples Bank & Trust
—
—
Cuc Properties LLC
—
Deed Of Trust
related
$100,000 · Peoples Bank & Trust
—
—
Cuc Properties LLC
—
Deed Of Trust
related
$2,030,000 · Peoples Bank & Trust
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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