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Property profile & analytics
OFF-MARKET
Estimated value
$2,535,000
Community centers
4131 Hannegan Rd, Bellingham, WA 98226-7766
Entity Owned
Free & Clear
Property ID
US90-0607050
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
2006
Total area
13,643 SF
Lot
1.11 ac (48,221 SF)
Zoning code
PI
APN
380308 518058 0000
UPID
US90-0607050
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
-
United Paint Specialty Hardware & Home Improvement Building Supply
-
Pets and Paws Cremation Cremation Service Pet Funeral Service
-
Walls & Windows (Bike/Boat/Book/etc) Store Home Decor Store
-
Jerns Funeral Home Social Service Agency
-
Mount Baker Cremation Society Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.76M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.54M
Owner & transaction history
4131 Hannegan LLC
4131 Hannegan LLC
since 2025
Last sale
$2.4M
3 recorded transactions
Zoning & alternative use
PI · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.9M
+431.7%
Office building
$2.6M
+367.8%
Apartment house (5+ units)
$2.0M
+268.7%
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%
$2,985,000
6.5%
$2,755,000
7%
$2,560,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,920,000
Change: +432% · Conversion: Easy
OFFICE BUILDING
$2,570,000
Change: +368% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,025,000
Change: +269% · Conversion: Difficult
Blend value · Realmo final
$2.54M
Range $2.28M – $2.79M · ±10% · vs last sale $2.43M (Jul 30 2025)
Last sale anchor
$2.43M
Jul 30 2025
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
$186 / 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
$17,392
Tax year 2021
Assessed value
$2,161,338
Assessed 2022
Previous assessed
$2,161,338
+0.0% YoY
Effective rate
0.80%
On assessed value
Assessed land
$671,055
Assessed improvement
$1,490,283
Land market value
$671,055
Improvement market value
$1,490,283
Total market value
$2,161,338
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
2006
Heating
NONE
Cooling
YES
Total area
13,643 SF
Lot
1.11 ac (48,221 SF)
Zoning code
PI
APN
380308 518058 0000
UPID
US90-0607050
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)
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
COMMERCIAL (GENERAL)
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
2006
Heating
NONE
Cooling
Yes
Lot
1.11 ac
Current owner
From public records · entity-resolved
4131 Hannegan LLC
Entity
Free & Clear · 0 yrs held
Mailing address
302 PRINCE AVE, BELLINGHAM, WA 98226-8102
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2025
$2,425,000
4131 Hannegan LLC
Midwest Trust Company
Personal Rep. Deed
—
Oct 17, 2011
$1,260,528
Peggy J Hinton
Tyee LLC
Quit Claim Deed
related
—
—
—
Tyee LLC
—
Deed Of Trust
related
$125,000 · Peggy Hinton
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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