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Property profile & analytics
OFF-MARKET
Estimated value
$1,090,000
Strip malls
3930 Meridian St Bellingham, WA 98226-5547
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0139048
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1979
Total area
14,555 SF
Lot
11.29 ac (491,792 SF)
Zoning code
PC
APN
380318 068400 0000
UPID
US90-0139048
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
-
TASTE OF INDIA Restaurant
-
Bellingham Group Law Firm
-
Meridian Overpass Bridge
-
Sally Beauty (Bike/Boat/Book/etc) Store Cosmetic Store
-
New Nail & Spa Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.27M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$913k
Blend (final)
Blend
$1.09M
Owner & transaction history
Rh Hall Creek Associates LLC · 8 yrs held
Rh Hall Creek Associates LLC
since 2018
6 recorded transactions
Zoning & alternative use
PC · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.4M
+142.7%
Restaurant
$1.4M
+133.6%
Auto repair, garage
$1.2M
+107.2%
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
$1,265,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,420,000
Change: +143% · Conversion: Easy
RESTAURANT
$1,370,000
Change: +134% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,215,000
Change: +107% · Conversion: Difficult
MEDICAL BUILDING
$1,185,000
Change: +103% · Conversion: Difficult
Blend value · Realmo final
$1.09M
Range $981k – $1.20M · ±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
$75 / 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
$140,679
Tax year 2021
Assessed value
$16,422,106
Assessed 2022
Previous assessed
$16,422,106
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$9,698,138
Assessed improvement
$6,723,968
Land market value
$9,698,138
Improvement market value
$6,723,968
Total market value
$16,422,106
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1979
Heating
NONE
Cooling
YES
Buildings
3
Total area
14,555 SF
Lot
11.29 ac (491,792 SF)
Zoning code
PC
APN
380318 068400 0000
UPID
US90-0139048
Jurisdiction
WHATCOM
Zoning & alternative use
PC · Bellingham, WA
Zoning PC · permitted uses
PC · 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
RETAIL STORES
Est. value
$1.4M
RESTAURANT
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1979
Heating
NONE
Cooling
Yes
Buildings
3
Lot
11.29 ac
Current owner
From public records · entity-resolved
Rh Hall Creek Associates LLC
Entity
Mailing address
PO BOX 5003, BELLEVUE, WA 98009-5003
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 30, 2018
$18,025,000
Rh Hall Creek Associates LLC
Meridian Village Wa LLC
Warranty Deed
related
$12,300,000 · Miscellaneous Ins Co
Apr 27, 2012
—
Meridian Village Wa LLC
U S Bank National Association
Special Warranty Deed
$9,864,000 · C-iii Commercial Mortgage LLC
Mar 30, 2010
$13,200,000
Bank Of America 2007-pwr16
Regional Te Svcs Corp
Trustees Deed
related
—
Oct 30, 2003
$10,470,588
Pavilion Bellingham Bromont
Rvip Ca/wa/or Portfolio LLC
Grant Deed
$22,184,000 · Merrill Lynch Capital Services
Feb 26, 2001
—
Rvip Ca/wa/or Portfolio LLC
—
Deed Of Trust
related
$38,000,000 · Lehman Brothers Bank Fsb
—
—
Pacific Operating Part Burnham
—
Deed Of Trust
related
$202,800 · General Electric Capital Corp
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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