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Property profile & analytics
OFF-MARKET
Estimated value
$6,225,000
Office Spaces
4202 Meridian St 4 Bellingham, WA 98226-8760
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1894914
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1973
Total area
11,912 SF
Lot
0.61 ac (26,559 SF)
Zoning code
PCLI
APN
380307 038149 0004
UPID
US90-1894914
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
-
Trac Associates Medical Clinic
-
Advantage Tutoring Center Tutoring Service
-
Whitman Dale M Counselor Doctor
-
Cascadia Deaf Nation Social Service Agency Charitable Organization
-
Bellingham Chiropractic Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.23M
Owner & transaction history
Cordata Holdings LLC · 3 yrs held
Cordata Holdings LLC
since 2022
Last sale
$6.3M
1 recorded transaction
Zoning & alternative use
PCLI · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.7M
+12.4%
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
$5,865,000
ML approach
$6,365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,160,000
Current use
RESTAURANT
$4,675,000
Change: +12% · Conversion: Moderate
Blend value · Realmo final
$6.23M
Range $5.60M – $6.85M · ±10% · vs last sale $6.34M (Nov 15 2022)
Last sale anchor
$6.34M
Nov 15 2022
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
$523 / 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
$7,915
Tax year 2021
Assessed value
$1,037,929
Assessed 2022
Previous assessed
$1,037,929
+0.0% YoY
Effective rate
0.76%
On assessed value
Assessed land
$610,568
Assessed improvement
$427,361
Land market value
$610,568
Improvement market value
$427,361
Total market value
$1,037,929
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
1973
Heating
NONE
Cooling
AC.FAN COOLING
Total area
11,912 SF
Lot
0.61 ac (26,559 SF)
Zoning code
PCLI
APN
380307 038149 0004
UPID
US90-1894914
Jurisdiction
WHATCOM
Zoning & alternative use
PCLI · Bellingham, WA
Zoning PCLI · permitted uses
PCLI · 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
$4.2M
RESTAURANT
Est. value
$4.7M
OFFICE BUILDING Current
RESTAURANT
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
1973
Heating
NONE
Cooling
Yes
Lot
0.61 ac
Current owner
From public records · entity-resolved
Cordata Holdings LLC
Entity
Mailing address
3204 EAGLERIDGE WAY, BELLINGHAM, WA 98226-7822
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2022
$6,337,500
Cordata Holdings LLC
Bellingham Business Park LLC
Bargain And Sale Deed
$3,200,000 · 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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