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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3970 Meridian St Bellingham, WA 98226-5519

    • Gas stations
    • 1,821 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Jan 31, 2025
    $2,550,000
    Value Estimations
    $2,610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-2886021
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Shell / Car Wash / Atm

    Property Details for 3970 Meridian St

    Year built
    1990
    Lot size
    0.46 lot acres
    Property size
    1,821 SF
    Property type
    Gas stations
    APN
    380318 011440 0000
    APU
    3803180114400000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,650,000
      ML approach
      $2,700,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,932,000
      Market price range: $919k - $2.37M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bellingham
    County
    Whatcom
    State
    Washington
    Longitude
    -122.486
    Latitude
    48.7864
    CBSA code
    13380
    CBSA name
    BELLINGHAM, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $8,249
    $604,346
    $533,871
    $1,138,217
    -
    $604,346
    $533,871
    $1,138,217

    Comparable in this City

    • Value Estimation
      $610,000
      724 SF

      4130 Meridian St

      SERVICE STATION (FULL SERVICE) • 724 SF
      4130 Meridian St, Bellingham, WA 98226-5515
      View Details
    • Value Estimation
      $625,000
      140 SF

      2200 Bakerview Rd

      SERVICE STATION (FULL SERVICE) • 140 SF
      2200 Bakerview Rd, Bellingham, WA 98226
      View Details
    • Value Estimation
      $2,105,000
      6,068 SF

      2433 Bakerview Rd

      SERVICE STATION (FULL SERVICE) • 6,068 SF
      2433 Bakerview Rd, Bellingham, WA 98226-7694
      View Details
    • Value Estimation
      $2,015,000
      3,151 SF

      4240 Meridian St

      SERVICE STATION (FULL SERVICE) • 3,151 SF
      4240 Meridian St, Bellingham, WA 98226-5513
      View Details
    • Value Estimation
      $2,010,000
      3,925 SF

      1301 Sunset Dr

      SERVICE STATION (FULL SERVICE) • 3,925 SF
      1301 Sunset Dr, Bellingham, WA 98226-5638
      View Details
    • Value Estimation
      $870,000
      4,080 SF

      4040 Irongate Rd

      GAS STATION • 4,080 SF
      4040 Irongate Rd, Bellingham, WA 98226-8028
      View Details

    Similar Nearby for Sale

    • $11,500,000
      12,388 SF

      Retail Strip Center For Sale

      Multi-tenant retail center with drive-thru in a major retail hub.
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    • Contact for pricing
      4,960 SF

      Prime Restaurant/Retail Property For Sale

      Standalone property with high visibility and accessibility near airport.
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    • $399,000

      Profitable Oriental Grocery Store

      Turn-key oriental grocery store with high revenue and growth potential.
      4056 Meridian St, Bellingham, WA 98226
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    • $520,000

      Bellingham Light Industrial Land

      1.8-Acre Development Opportunity in Cordata
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      Prime Bellingham Doggy Daycare

      Turnkey Business, High Demand Location
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      Bellingham Industrial Land - 35 Acres

      Prime Bellingham land, Light Industrial zoning, development potential.
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    Similar Nearby for Lease

    • Contact for pricing
      1,190 SF

      Bellingham Retail Space For Lease

      1,190 SF Retail/Storage Unit - Available Now
      2799 Bakerview Rd, Bellingham, WA 98226
      View Details
    • $22 SF/Yr
      1,550 SF

      Retail Space Available For Rent

      Retail space available for lease, 1550 square feet.
      1255-1263 Barkley Blvd, Bellingham, WA 98226
      View Details
    • $26 SF/Yr
      1,650 SF

      Retail Space with Ample Parking

      Retail space with high ceilings and ample parking available for rent.
      4180 Cordata Pkwy, Bellingham, WA 98226
      View Details
    • $20 SF/Yr
      1,915 SF

      Remodeled Retail Space in Cordata

      Retail suites available in Cordata Place shopping center.
      4151 Meridian St, Bellingham, WA 98226
      View Details
    • $32 SF/Yr
      5,019 SF

      Retail Medical Office Hub

      Retail and medical office spaces available in Bellingham, WA.
      4280 Meridian St, Bellingham, WA 98226
      View Details
    • $19 SF/Yr
      2,000 SF

      Retail Space in Blossom Commons

      Retail space available in a busy shopping center.
      115-159 W Kellogg Rd, Bellingham, WA 98226
      View Details

    Property Visit Statistics

    • Visits by month
      8.9k
    • Visitors by month
      6.7k
    • Avg Time on site
      8 min
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    3970 Meridian St
    Bellingham, WA 98226-5519
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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