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Property profile & analytics
OFF-MARKET
Estimated value
$1,475,000
Office buildings
400 Commercial St, Bellingham, WA 98225-4003
Entity Owned
1-yr Hold
Free & Clear
Property ID
US90-0133918
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1961
Total area
4,834 SF
Lot
0.15 ac (6,625 SF)
Zoning code
CC
APN
380330 204357 0000
UPID
US90-0133918
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
-
Adelstein, Sharpe & Serka LLP Law Firm
-
Faber Fairchild McCurdy LLP Law Firm
-
Serka Philip A Law Firm
-
Mitchell G. Faber Law Firm
-
Stoner Ivan M Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.48M
CAP Approach
CAP
$1.11M
Comparable Approach
Comparable
$1.41M
Blend (final)
Blend
$1.48M
Owner & transaction history
Whatcom County · 1 yrs held
Whatcom County
since 2024
Last sale
$1.5M
1 recorded transaction
Zoning & alternative use
CC · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,475,000
ML approach
$1,475,000
CAP Approach
CAP Return
Estimation
6%
$1,205,000
6.5%
$1,110,000
7%
$1,030,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,660,000
Current use
MEDICAL BUILDING
$1,500,000
Change: -10% · Conversion: Easy
RETAIL STORES
$1,420,000
Change: -15% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,345,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$1.48M
Range $1.33M – $1.62M · ±10% · vs last sale $1.48M (Oct 1 2024)
Last sale anchor
$1.48M
Oct 1 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
$305 / 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
$6,966
Tax year 2024
Assessed value
$895,927
Assessed 2023
Previous assessed
$807,142
+11.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$335,331
Assessed improvement
$560,596
Land market value
$335,331
Improvement market value
$560,596
Total market value
$895,927
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
1961
Heating
NONE
Cooling
YES
Total area
4,834 SF
Lot
0.15 ac (6,625 SF)
Zoning code
CC
APN
380330 204357 0000
UPID
US90-0133918
Jurisdiction
WHATCOM
Zoning & alternative use
CC · Bellingham, WA
Zoning CC · permitted uses
CC · 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
$1.7M
MEDICAL BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
1961
Heating
NONE
Cooling
Yes
Lot
0.15 ac
Current owner
From public records · entity-resolved
Whatcom County
Entity
Free & Clear · 1 yrs held
Mailing address
400 N COMMERCIAL ST, BELLINGHAM, WA 98225-4003
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2024
$1,475,000
Whatcom County
Steven P Adelstein
Warranty Deed
—
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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