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Property profile & analytics
OFF-MARKET
Estimated value
$9,770,000
Commercial real estate
3420 Mcleod Rd Bellingham, WA 98225-8943
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-3368134
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2002
Total area
44,004 SF
Lot
4.71 ac (205,168 SF)
Zoning code
URM18
APN
380214 118333 0000
UPID
US90-3368134
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
-
Edgemont Apartments Apartment Complex
-
Faith Whaley Photography Wedding Service Photography Service
-
Green Leaf Landscaping Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.59M
Comparable Approach
Comparable
$9.37M
Blend (final)
Blend
$9.77M
Owner & transaction history
3420 W Mcleod Road LP · 4 yrs held
3420 W Mcleod Road LP
since 2022
7 recorded transactions
Zoning & alternative use
URM18 · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$15.1M
+23.5%
Medical building
$13.7M
+11.6%
Retail stores
$12.9M
+5.5%
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%
$9,305,000
6.5%
$8,590,000
7%
$7,975,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$12,230,000
Current use
OFFICE BUILDING
$15,110,000
Change: +24% · Conversion: Easy
MEDICAL BUILDING
$13,650,000
Change: +12% · Conversion: Easy
RETAIL STORES
$12,910,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$9.77M
Range $8.79M – $10.75M · ±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
$222 / 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
$131,878
Tax year 2024
Assessed value
$15,237,094
Assessed 2023
Previous assessed
$12,592,639
+21.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$2,722,500
Assessed improvement
$12,514,594
Land market value
$2,722,500
Improvement market value
$12,514,594
Total market value
$15,237,094
Applied tax rate
1,105.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2002
Heating
NONE
Cooling
YES
Buildings
4
Units
90
Total area
44,004 SF
Lot
4.71 ac (205,168 SF)
Zoning code
URM18
APN
380214 118333 0000
UPID
US90-3368134
Jurisdiction
WHATCOM
Zoning & alternative use
URM18 · Bellingham, WAZoning URM18 · permitted uses
URM18 · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$12.2M
OFFICE BUILDING
Est. value
$15.1M
MEDICAL BUILDING
Est. value
$13.7M
RETAIL STORES
Est. value
$12.9M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
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
2002
Heating
NONE
Cooling
Yes
Buildings
4
Units
90
Lot
4.71 ac
Current owner
From public records · entity-resolved
3420 W Mcleod Road LP
Entity
Mailing address
650 ALABAMA ST STE #101, SAN FRANCISCO, CA 94110-2038
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 16, 2022
—
3420 W Mcleod Road LP
—
Deed
related
$6,000,000 · River City Bank
Feb 11, 2022
—
3420 W Mcleod Road LP
Fred Snyder
Warranty Deed
$6,000,000 · River City Bank
Jan 14, 2022
$16,736,500
Fred Snyder
Rh Sunrise LLC
Warranty Deed
—
Oct 26, 2018
$11,575,000
Rh Sunrise LLC
Lbg Edgemont LLC
Warranty Deed
$5,950,000 · Miscellaneous Ins Co
Mar 2, 2016
—
Lbg Edgemont LLC
Lbg Bellingham LLC
Quit Claim Deed
related
$5,950,000 · Miscellaneous Ins Co
Oct 16, 2015
—
Lbg Bellingham LLC
Lbg Edgemont LLC
Quit Claim Deed
related
—
Aug 25, 2015
$8,833,000
Lbg Edgemont LLC
Epus Holdings INC
Warranty Deed
—
Feb 28, 2003
$5,309,000
Epus Holdings INC
Edgemont Properties INC
Grant Deed
related
$4,020,000 · Artesia Mortgage Capital Corp
Dec 29, 2000
—
Edgemont Properties INC
—
Trustees Deed
related
$3,300,000 · Homestreet Bank
Aug 23, 2000
—
Edgemont Properties INC
Westpointe INC
Quit Claim Deed
related
—
Apr 1, 1999
—
Whatcom County (wa)
Owega,andy
Grant Deed
related
—
—
—
Wespointe INC
—
Deed Of Trust
related
$319,500 · N A R Holdings INC
—
—
Westpointe INC
—
Deed Of Trust
related
$264,000 · Netshares Corp
—
—
Epus Holdings INC
—
Deed Of Trust
related
$4,690,000 · Sterling Bank
—
—
Westpointe INC
—
Deed Of Trust
related
$506,640 · Westpointe Holdings INC
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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