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Property profile & analytics
OFF-MARKET
Estimated value
$3,885,000
Medical Office Space
475 Stuart Rd Bellingham, WA 98226
Individually Owned
2-yr Hold
Free & Clear
Property ID
US90-2652856
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2013
Total area
28,647 SF
Lot
2.17 ac (94,438 SF)
Zoning code
PI
APN
380212 360380 0000
UPID
US90-2652856
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
-
WCC Massage Therapy Program Alternative Medicine Practice
-
Health Profession Education Center - Whatcom Community College High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.33M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.89M
Owner & transaction history
State Of Washington · 2 yrs held
State Of Washington
since 2023
7 recorded transactions
Zoning & alternative use
PI · 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%
$4,690,000
6.5%
$4,330,000
7%
$4,020,000
Blend value · Realmo final
$3.89M
Range $3.50M – $4.27M · ±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
$136 / 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
Assessed value
$8,131,891
Assessed 2022
Previous assessed
$6,720,571
+21.0% YoY
Assessed land
$914,266
Assessed improvement
$7,217,625
Land market value
$914,266
Improvement market value
$7,217,625
Total market value
$8,131,891
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2013
Heating
YES
Cooling
YES
Total area
28,647 SF
Lot
2.17 ac (94,438 SF)
Zoning code
PI
APN
380212 360380 0000
UPID
US90-2652856
Jurisdiction
WHATCOM
Zoning & alternative use
PI · Bellingham, WAZoning PI · permitted uses
PI · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2013
Heating
YES
Cooling
Yes
Lot
2.17 ac
Current owner
From public records · entity-resolved
State Of Washington
Individual
Free & Clear · 2 yrs held
Ownership since
2023
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
Nov 15, 2023
—
State Of Washington
Whatcom Community College Foundatio
Lease
—
Mar 31, 2014
—
Whatcom Community College Foundatio
Cordata Health Professions Center L
Warranty Deed
$7,740,000 · Whidbey Island Bank
Oct 30, 2012
—
Cordata Health Professions Cen
—
Trustees Deed
related
$4,500,000 · Whidbey Island Bank
Jul 26, 2006
—
Cordata Workstudios LLC
Hertz,kenneth D & Kathryn M
Quit Claim Deed
related
—
Nov 12, 2004
$475,000
Kenneth D Hertz
S H Cowell Foundation
Warranty Deed
—
—
—
Kenneth D Hertz
—
Deed Of Trust
related
$500,000 · Horizon Bank
—
—
Cordata Health Professions Cen
—
Deed Of Trust
related
—
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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