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Property profile & analytics
OFF-MARKET
Estimated value
$4,400,000
Office Spaces
4260 Cordata Pkwy Bellingham, WA 98226-8185
Individually Owned
13-yr Hold
Free & Clear
Property ID
US90-1852714
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2009
Total area
16,378 SF
Lot
1.84 ac (80,150 SF)
Zoning code
PC
APN
380212 450220 0000
UPID
US90-1852714
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
-
Goji Fusion Bistro Restaurant
-
The Little Oasis Kabob House Grocery & Convenience Store
-
Westside Pizza Restaurant
-
Mischa's Box Tour Operator
-
Janette Morales- Home Trust Financial NMLS #1588203 Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.72M
Blend (final)
Blend
$4.40M
Owner & transaction history
Baingio Arrica · 13 yrs held
Baingio Arrica
since 2013
7 recorded transactions
Zoning & alternative use
PC · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.4M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,720,000
Current use
RESTAURANT
$6,430,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$5,080,000
Change: -11% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,905,000
Change: -14% · Conversion: Easy
RETAIL STORES
$4,805,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$4.40M
Range $3.96M – $4.84M · ±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
$269 / 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 2023Property tax & assessments
Tax year 2023
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
2009
Heating
NONE
Cooling
YES
Total area
16,378 SF
Lot
1.84 ac (80,150 SF)
Zoning code
PC
APN
380212 450220 0000
UPID
US90-1852714
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
OFFICE BUILDING Current
Est. value
$5.7M
RESTAURANT
Est. value
$6.4M
MEDICAL BUILDING
Est. value
$5.1M
COMMERCIAL (GENERAL)
Est. value
$4.9M
RETAIL STORES
Est. value
$4.8M
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
2009
Heating
NONE
Cooling
Yes
Lot
1.84 ac
Current owner
From public records · entity-resolved
Baingio Arrica
Individual
Free & Clear · 13 yrs held
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 2013
$2,900,000
Baingio Arrica
Washington Fedl
Grant Deed
—
Aug 18, 2011
$1,409,164
Fedl Washington
Whatcom Plaza LLC
Deed In Lieu Of Foreclosure
—
Dec 17, 2007
$922,500
Whatcom Plaza LLC
Robinson,david & Carol
Warranty Deed
$3,903,000 · Horizon Bank
Oct 10, 2006
$263,250
David W Robinson
Dicksen,donald L & Lucy
Warranty Deed
—
Nov 25, 2003
—
Bellingham City (wa)
Robinson,david W & Carol A
Grant Deed
related
—
Aug 22, 2003
$650,000
David W Robinson
Dirksen,donald L & Lucy
Trustees Deed
—
Aug 27, 1999
$872,549
Trillium Corp
Robinson,david W & Carol A
Grant Deed
$650,000 · Seller
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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