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Property profile & analytics
OFF-MARKET
Estimated value
$3,055,000
Manufacturing properties
468 Horton Rd Bellingham, WA 98226-1205
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US90-1751430
Property profile
Verified
Property type
Manufacturing properties
Use group
FOOD PROCESSING
Year built
1989
Total area
32,010 SF
Lot
2.3 ac (100,014 SF)
Zoning code
PIC
APN
380201 318090 0000
UPID
US90-1751430
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
-
Ameri-Sell Warehouse & Storage
-
Compu-Food Analysis Corporate Office
-
Flax4Life Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.04M
Comparable Approach
Comparable
$2.08M
Blend (final)
Blend
$3.06M
Owner & transaction history
B&d Francis Investments LLC · 11 yrs held
B&d Francis Investments LLC
since 2015
7 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%
$3,295,000
6.5%
$3,040,000
7%
$2,825,000
Blend value · Realmo final
$3.06M
Range $2.75M – $3.36M · ±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
$95 / 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
$28,011
Tax year 2021
Assessed value
$3,651,559
Assessed 2022
Previous assessed
$3,651,559
+0.0% YoY
Effective rate
0.77%
On assessed value
Assessed land
$855,000
Assessed improvement
$2,796,559
Land market value
$855,000
Improvement market value
$2,796,559
Total market value
$3,651,559
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
Manufacturing properties
Use group
FOOD PROCESSING
Status
Off-Market
Year built
1989
Heating
NONE
Cooling
YES
Total area
32,010 SF
Lot
2.3 ac (100,014 SF)
Zoning code
PIC
APN
380201 318090 0000
UPID
US90-1751430
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
1989
Heating
NONE
Cooling
Yes
Lot
2.3 ac
Current owner
From public records · entity-resolved
B&d Francis Investments LLC
Entity
Mailing address
468 W HORTON RD, BELLINGHAM, WA 98226-1205
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2020
—
B&d Francis Investments LLC
—
Deed
related
$25,000 · Umpqua Bank
Mar 26, 2015
$2,357,500
B&d Francis Investments LLC
Alfred Leenstra
Warranty Deed
$1,820,505 · Umpqua Bank
Jan 21, 2009
—
Leenstra Carol E Qtip Trust
Leenstra,alfred
Quit Claim Deed
related
—
Dec 10, 2001
$1,650,000
Alfred Leenstra
Lakewood Porter LLP
Grant Deed
$1,176,000 · Columbia State Bank
Mar 22, 2000
$1,337,908
Lakewood Porter LLP
Bellingham Banking Co INC
Grant Deed
$800,000 · Bellingham Banking Co INC
—
—
Lakewood Porter LLP
—
Deed Of Trust
related
$1,200,000 · Frontier Bank
—
—
Bellingham Baking Co INC
—
Deed Of Trust
related
$825,000 · Western Fsb
—
—
Bellingham Baking Co INC
—
Deed Of Trust
related
$400,000 · Us Bank Of Washington
—
—
Bellingham Baking Co INC
—
Deed Of Trust
related
$250,000 · Us Bank Of Washington
—
—
B & D Francis Investments LLC
—
Deed Of Trust
related
$1,527,000 · Northwest Busn Dev Assn
—
—
Bellingham Baking Co
—
Deed Of Trust
related
$825,000 · Us Bank
—
—
Leensta Carol E Trust
—
Deed Of Trust
related
$1,176,000 · Columbia State Bank
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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