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Property profile & analytics
FOR LEASE
Strip malls
4280 Meridian St Bellingham, WA 98226
Individually Owned
11-yr Hold
Free & Clear
Property ID
US90-0136988
For Lease
1 / 3
$32 SF/Yr
4280 Meridian St, Bellingham, WA 98226
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1996
Total area
4,175 SF
Lot
0.02 ac (871 SF)
Zoning code
PC
APN
380307 024222 0001
UPID
US90-0136988
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
-
Titanium Respiratory Questionnaire Production Facility
-
Geoffrey J. McAllister DPM Physician
-
Care Medical Group Medical Laboratory
-
Wei Tsao T MD Physician Medical Clinic
-
Peter B. Van Wagenen MD Physician
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
Norman F Chang · 11 yrs held
Norman F Chang
since 2015
5 recorded transactions
Zoning & alternative use
PC · 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
$3,188
Tax year 2024
Assessed value
$410,058
Assessed 2023
Previous assessed
$4,883,287
-91.6% YoY
Effective rate
0.78%
On assessed value
Assessed land
$11,479
Assessed improvement
$398,579
Land market value
$11,479
Improvement market value
$398,579
Total market value
$410,058
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1996
Heating
NONE
Cooling
YES
Total area
4,175 SF
Lot
0.02 ac (871 SF)
Zoning code
PC
APN
380307 024222 0001
UPID
US90-0136988
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.
Building & site characteristics
From public records
Year built
1996
Heating
NONE
Cooling
Yes
Lot
0.02 ac
Current owner
From public records · entity-resolved
Norman F Chang
Individual
Free & Clear · 11 yrs held
Mailing address
PO BOX 4793RD BLAINE
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
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
Mar 19, 2015
—
Norman F Chang
Wintergreen LLC
Quit Claim Deed
related
—
Feb 10, 2015
—
Norman F Chang
Wintergreen LLC
Quit Claim Deed
related
—
Oct 17, 2003
—
Norman F Chang
—
Trustees Deed
related
$850,000 · Bank Of The Northwest
Dec 30, 2002
$3,100,000
Emerald Exchange Co
Kellog Square Investments INC
Grant Deed
$3,150,000 · Bank Of The Northwest
—
—
Norman F Chang
—
Deed Of Trust
related
$5,000,000 · Bank Of The Pacific
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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