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Property profile & analytics
OFF-MARKET
Office Spaces
4058 Hammer Dr B102 Bellingham, WA 98226-8046
Individually Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0496258
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2006
Total area
1,564 SF
Zoning code
LI
APN
380317 234474 0005
UPID
US90-0496258
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
-
Ultimate Baker Industrial Manufacturer Production Facility
-
Lyn’s Draperies (Bike/Boat/Book/etc) Store Home Decor Store
-
Lyn's Draperies (Bike/Boat/Book/etc) Store Home Decor Store
-
Coast Mountain Painting LLC Painting
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Michael Johnston · 3 yrs held
Michael Johnston
since 2023
Last sale
$285,000
5 recorded transactions
Zoning & alternative use
LI · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,230
Tax year 2024
Assessed value
$286,802
Assessed 2023
Previous assessed
$225,828
+27.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$65,151
Assessed improvement
$221,651
Land market value
$65,151
Improvement market value
$221,651
Total market value
$286,802
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2006
Heating
NONE
Cooling
YES
Total area
1,564 SF
Zoning code
LI
APN
380317 234474 0005
UPID
US90-0496258
Jurisdiction
WHATCOM
Zoning & alternative use
LI · Bellingham, WA
Zoning LI · permitted uses
LI · 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.
Building & site characteristics
From public records
Year built
2006
Heating
NONE
Cooling
Yes
Current owner
From public records · entity-resolved
Michael Johnston
Individual
Mailing address
1746 SAPPHIRE TRL, BELLINGHAM, WA 98226-7838
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2023
$285,000
Michael Johnston
Monte D Young
Warranty Deed
—
Feb 25, 2011
$112,780
Monte D Young
J H Huntley LLC
Warranty Deed
$90,000 · Peoples Bank
Feb 8, 2010
—
J H Huntley LLC
Huntley,jacob F & Hailey S
Quit Claim Deed
related
—
Dec 21, 2009
$745,000
Jacob F Huntley
Whidbey Island Bk
Grant Deed
$559,000 · Whidbey Island Bank
Nov 7, 2008
$1,145,206
Whidbey Island Bk
Bohannon Michael D
Trustees Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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