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Property profile & analytics
OFF-MARKET
Estimated value
$6,550,000
Hotels
3750 Meridian St Bellingham, WA 98225-1734
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-3172515
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1989
Total area
44,086 SF
Lot
1.32 ac (57,499 SF)
Zoning code
PCNR35
APN
380318 017246 0000
UPID
US90-3172515
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
-
MorningGlory Inn & Suites Hotel & Motel
-
Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.42M
CAP Approach
CAP
$5.11M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.55M
Owner & transaction history
Ashleen Hotel LLC · 4 yrs held
Ashleen Hotel LLC
since 2021
Last sale
$6.5M
7 recorded transactions
Zoning & alternative use
PCNR35 · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$9.2M
+570.1%
Medical building
$7.2M
+418.6%
Retail stores
$6.6M
+380.3%
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
$7,325,000
ML approach
$7,420,000
CAP Approach
CAP Return
Estimation
6%
$5,530,000
6.5%
$5,105,000
7%
$4,740,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,245,000
Change: +570% · Conversion: Difficult
MEDICAL BUILDING
$7,155,000
Change: +419% · Conversion: Difficult
RETAIL STORES
$6,625,000
Change: +380% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,540,000
Change: +374% · Conversion: Difficult
RESTAURANT
$5,510,000
Change: +300% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,040,000
Change: +266% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,945,000
Change: +258% · Conversion: Difficult
Blend value · Realmo final
$6.55M
Range $5.90M – $7.21M · ±10% · vs last sale $6.45M (Sep 23 2021)
Last sale anchor
$6.45M
Sep 23 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
$149 / 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
$51,141
Tax year 2021
Assessed value
$4,791,267
Assessed 2022
Previous assessed
$4,791,267
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$1,149,980
Assessed improvement
$3,641,287
Land market value
$1,149,980
Improvement market value
$3,641,287
Total market value
$4,791,267
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1989
Heating
NONE
Cooling
YES
Total area
44,086 SF
Lot
1.32 ac (57,499 SF)
Zoning code
PCNR35
APN
380318 017246 0000
UPID
US90-3172515
Jurisdiction
WHATCOM
Zoning & alternative use
PCNR35 · Bellingham, WA
Zoning PCNR35 · permitted uses
PCNR35 · 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
OFFICE BUILDING
Est. value
$9.2M
MEDICAL BUILDING
Est. value
$7.2M
RETAIL STORES
Est. value
$6.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.5M
RESTAURANT
Est. value
$5.5M
AUTO REPAIR, GARAGE
Est. value
$5.0M
COMMERCIAL (GENERAL)
Est. value
$4.9M
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
AUTO REPAIR, GARAGE
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
1989
Heating
NONE
Cooling
Yes
Lot
1.32 ac
Current owner
From public records · entity-resolved
Ashleen Hotel LLC
Entity
Mailing address
3750 MERIDIAN ST, BELLINGHAM, WA 98225-1734
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 23, 2021
$6,450,000
Ashleen Hotel LLC
Youngs Capital Co
Warranty Deed
$5,000,000 · Bbcn Bank
Jan 2, 2019
$6,450,100
Youngs Capital Co LLC
Oh2 Ltd
Warranty Deed
related
$1,936,639 · Scf Nbl LLC
Aug 26, 2008
—
Oh2 Ltd
Owner Name Unavailable
Warranty Deed
related
—
May 22, 2008
$3,950,000
Oh2 Ltd
Cha,charles & Annie
Warranty Deed
$4,261,750 · City Bank
Mar 31, 1999
$2,450,000
Charles Cha
Campbell Holdings
Grant Deed
$1,750,000 · City Bank
Oct 13, 1998
—
Campbell Holdings
—
Deed Of Trust
related
$115,000,000 · Wells Fargo Bank
—
—
Youngs Capital Co LLC
—
Deed Of Trust
related
$3,387,732 · Gbc Int'l Bk
—
—
Oh2 Ltd
—
Deed Of Trust
related
$4,200,000 · Bbcn Bk-washington
—
—
Youngs Capital Co LLC
—
Deed Of Trust
related
$1,994,000 · Ameritrust Cdc
—
—
Charles W Cha
—
Deed Of Trust
related
$1,400,000 · Nara 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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