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Property profile & analytics
OFF-MARKET
Estimated value
$2,845,000
Drug stores
4090 Meridian St Bellingham, WA 98226-5517
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-3194855
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2001
Total area
15,036 SF
Lot
1.94 ac (84,550 SF)
Zoning code
PC
APN
380318 023546 0000
UPID
US90-3194855
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
FedEx OnSite Postal Service Courier Service
-
Walgreens Cosmetic Store
-
Walgreens Pharmacy Pharmacy
-
COVID-19 Drive-Thru Testing at Walgreens Medical Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.76M
Comparable Approach
Comparable
$2.24M
Blend (final)
Blend
$2.85M
Owner & transaction history
Help Bellingham LLC · 4 yrs held
Help Bellingham LLC
since 2022
4 recorded transactions
Zoning & alternative use
PC · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.7M
+5.7%
Commercial (general)
$4.5M
+2.1%
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%
$2,990,000
6.5%
$2,760,000
7%
$2,565,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,410,000
Current use
MEDICAL BUILDING
$4,665,000
Change: +6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,500,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$2.85M
Range $2.56M – $3.13M · ±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
$189 / 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
$44,852
Tax year 2021
Assessed value
$5,231,789
Assessed 2022
Previous assessed
$5,231,789
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$2,353,844
Assessed improvement
$2,877,945
Land market value
$2,353,844
Improvement market value
$2,877,945
Total market value
$5,231,789
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2001
Heating
NONE
Cooling
YES
Total area
15,036 SF
Lot
1.94 ac (84,550 SF)
Zoning code
PC
APN
380318 023546 0000
UPID
US90-3194855
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 Current
Est. value
$4.4M
MEDICAL BUILDING
Est. value
$4.7M
COMMERCIAL (GENERAL)
Est. value
$4.5M
RETAIL STORES Current
MEDICAL BUILDING
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
2001
Heating
NONE
Cooling
Yes
Lot
1.94 ac
Current owner
From public records · entity-resolved
Help Bellingham LLC
Entity
Mailing address
23311 NEWTON AVE, STRATFORD, CA 93266-9732
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2022
—
Help Bellingham LLC
Flowe Family LP
Warranty Deed
$52,525,000 · Morgan Stanley Private Bank NA
Aug 5, 2015
$7,178,000
Howe Family LP
Kmd Bellingham LLC
Warranty Deed
$3,975,000 · Sunwest Bank
Jun 3, 2011
$5,500,000
Kmd Bellingham LLC
Magoon Family LLC
Warranty Deed
—
—
—
Kmd Bellingham LLC
—
Deed Of Trust
related
$3,575,000 · Bank Of Arizona
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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