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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Commercial real estate
4000 Pacific Hwy Bellingham, WA 98226-7394
Entity Owned
11-yr Hold
Free & Clear
Property ID
US90-2704031
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1982
Total area
2,088 SF
Lot
2.37 ac (103,237 SF)
Zoning code
PI
APN
380211 357093 0000
UPID
US90-2704031
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
$410k
Comparable Approach
Comparable
$674k
Blend (final)
Blend
$575k
Owner & transaction history
Costco Wholesale Corp · 11 yrs held
Costco Wholesale Corp
since 2015
7 recorded transactions
Zoning & alternative use
PI · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$730,000
+16.6%
Medical building
$650,000
+3.6%
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%
$440,000
6.5%
$410,000
7%
$380,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$625,000
Current use
OFFICE BUILDING
$730,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$650,000
Change: +4% · Conversion: Easy
RETAIL STORES
$610,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$575k
Range $518k – $633k · ±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
$275 / 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
$9,750
Tax year 2021
Assessed value
$1,796,327
Assessed 2022
Previous assessed
$1,796,327
+0.0% YoY
Effective rate
0.54%
On assessed value
Assessed land
$1,796,327
Land market value
$1,796,327
Total market value
$1,796,327
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1982
Heating
FORCED AIR
Bathrooms
3
Total area
2,088 SF
Lot
2.37 ac (103,237 SF)
Zoning code
PI
APN
380211 357093 0000
UPID
US90-2704031
Jurisdiction
WHATCOM
Zoning & alternative use
PI · Bellingham, WA
Zoning PI · permitted uses
PI · 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
COMMERCIAL (GENERAL) Current
Est. value
$625,000
OFFICE BUILDING
Est. value
$730,000
MEDICAL BUILDING
Est. value
$650,000
RETAIL STORES
Est. value
$610,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
MEDICAL BUILDING
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
1982
Heating
FORCED AIR
Bathrooms
3
Lot
2.37 ac
Current owner
From public records · entity-resolved
Costco Wholesale Corp
Entity
Free & Clear · 11 yrs held
Mailing address
999 LK DR, ISSAQUAH, WA 98027-8990
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2015
$350,000
Costco Wholesale Corp
Merrick Suzette L
Warranty Deed
—
Apr 26, 2006
—
Bruce A Merrick
Wilson,barbara L
Quit Claim Deed
related
$125,000 · Whatcom Educational Cu
—
—
Barbara Wilson
—
Deed Of Trust
related
$60,000 · Southern Pacific Funding Corp
—
—
Barbara Wilson
—
Deed Of Trust
related
$100,973 · Beneficial Washington INC
—
—
Barbara Wilson
—
Deed Of Trust
related
$114,577 · Beneficial Mortgage Co
—
—
Barbara Wilson
—
Deed Of Trust
related
$23,000 · Beneficial Mortgage Co
—
—
Bruce A Merrick
—
Deed Of Trust
related
$130,585 · Whatcom Educational Cu
—
—
Bruce A Merrick
—
Deed Of Trust
related
$125,000 · Whatcom Educational Cu
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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