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Property profile & analytics
FOR LEASE
Warehouses
445 Sequoia Dr Bellingham, WA 98226
Entity Owned
20-yr Hold
Free & Clear
Property ID
US90-3243969
For Lease
$2,270,000
445 Sequoia Dr, Bellingham, WA 98226
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1998
Total area
26,240 SF
Lot
1.74 ac (75,882 SF)
Zoning code
PIC
APN
380201 323137 0000
UPID
US90-3243969
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.03M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.27M
Owner & transaction history
S & S Sequoia LLC · 20 yrs held
S & S Sequoia LLC
since 2006
4 recorded transactions
Zoning & alternative use
PIC · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,280,000
6.5%
$3,030,000
7%
$2,810,000
Blend value · Realmo final
$2.27M
Range $2.04M – $2.50M · ±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
$87 / 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
$22,421
Tax year 2021
Assessed value
$2,578,428
Assessed 2022
Previous assessed
$2,578,428
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$519,033
Assessed improvement
$2,059,395
Land market value
$519,033
Improvement market value
$2,059,395
Total market value
$2,578,428
Applied tax rate
105.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1998
Heating
NONE
Cooling
YES
Total area
26,240 SF
Lot
1.74 ac (75,882 SF)
Zoning code
PIC
APN
380201 323137 0000
UPID
US90-3243969
Jurisdiction
WHATCOM
Zoning & alternative use
PIC · Bellingham, WA
Zoning PIC · permitted uses
PIC · 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
1998
Heating
NONE
Cooling
Yes
Lot
1.74 ac
Current owner
From public records · entity-resolved
S & S Sequoia LLC
Entity
Free & Clear · 20 yrs held
Mailing address
709 W GARFIELD ST #1001, SEATTLE, WA 98119-3243
Ownership since
2006
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
Jun 12, 2006
—
S & S Sequoia LLC
S & S Investments
Quit Claim Deed
related
—
Oct 14, 2004
$4,120,000
S Investments
Teos LLC
Warranty Deed
—
Jan 31, 2002
$3,000,000
Teos LLC
Trillium Corp
Grant Deed
$2,250,000 · Banner Bank
—
—
Trillium Corp
—
Deed Of Trust
related
$280,000 · Dawson Construction
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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