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Property profile & analytics
OFF-MARKET
Estimated value
$1,615,000
Office buildings
3929 Spur Rdg Ln, Bellingham, WA 98226-1234
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0404476
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2006
Total area
6,005 SF
Lot
0.42 ac (18,295 SF)
Zoning code
HI
APN
380317 494420 0000
UPID
US90-0404476
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.38M
Comparable Approach
Comparable
$1.59M
Blend (final)
Blend
$1.62M
Owner & transaction history
Spur Ridge Buildings LLC · 1 yrs held
Spur Ridge Buildings LLC
since 2024
Last sale
$2.1M
7 recorded transactions
Zoning & alternative use
HI · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.4M
+12.4%
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%
$1,495,000
6.5%
$1,380,000
7%
$1,280,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,095,000
Current use
RESTAURANT
$2,355,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$1,865,000
Change: -11% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,800,000
Change: -14% · Conversion: Easy
RETAIL STORES
$1,760,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$1.62M
Range $1.45M – $1.78M · ±10% · vs last sale $2.13M (Sep 27 2024)
Last sale anchor
$2.13M
Sep 27 2024
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
$269 / 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
$6,817
Tax year 2021
Assessed value
$946,391
Assessed 2022
Previous assessed
$946,391
+0.0% YoY
Effective rate
0.72%
On assessed value
Assessed land
$260,599
Assessed improvement
$685,792
Land market value
$260,599
Improvement market value
$685,792
Total market value
$946,391
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
2006
Heating
HEAT PUMP
Cooling
EVAPORATIVE
Total area
6,005 SF
Lot
0.42 ac (18,295 SF)
Zoning code
HI
APN
380317 494420 0000
UPID
US90-0404476
Jurisdiction
WHATCOM
Zoning & alternative use
HI · Bellingham, WA
Zoning HI · permitted uses
HI · 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 Current
Est. value
$2.1M
RESTAURANT
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.8M
RETAIL STORES
Est. value
$1.8M
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
2006
Heating
HEAT PUMP
Cooling
Yes
Lot
0.42 ac
Current owner
From public records · entity-resolved
Spur Ridge Buildings LLC
Entity
Mailing address
909 SQUALICUM WAY STE #101, BELLINGHAM, WA 98225-2077
Ownership since
2024
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
Dec 27, 2024
$2,125,018
Spur Ridge Buildings LLC
Mcs&f LLC
Warranty Deed
—
Jan 22, 2018
—
Mcs & F LLC
Hansen,jeffrey S & Susan M
Quit Claim Deed
related
—
Jan 10, 2017
—
Jeffrey S Hansen
—
Deed
related
$138,400 · Bank Of The Pacific
Nov 18, 2016
—
Jeffrey S Hansen
—
Deed
related
$50,000 · Bank Of The Pacific
Sep 2, 2005
—
Jeff Hansen
—
Trustees Deed
related
$479,121 · Whidbey Island Bank
Jun 14, 2004
$101,750
Jeff Hansen
Glepco LLC
Warranty Deed
—
—
—
Jeff Hansen
—
Deed Of Trust
related
$525,000 · Whidbey Island Bank
—
—
Jeff Hansen
—
Loan Modification
related
$575,250 · Peoples Bank & Trust
—
—
Jeffrey S Hansen
—
Deed Of Trust
related
$138,400 · Bank Of The Pacific
—
—
Jeffrey S Hansen
—
Deed Of Trust
related
$50,000 · Bank Of The Pacific
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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