Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    477 Horton Rd Bellingham, WA 98226-1205
    Back to Search
    Property profile & analytics

    477 Horton Rd, Bellingham, WA 98226-1205

    View on Map
    • Drug stores
    • 13,632 SF
    • 1.89 lot acres
    Off-Market
    Last Sale Jul 9, 2020
    $3,150,000
    Property ID
    US90-1663308
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $3,250,000
    Show details
    Cap Rate Potential
    4.3%
    Drug stores
    Location Intelligence

    Current Use by Public Records

    • Infusion Solutions / Pharmacy
    • Jennifer R. Harbick, PharmD / Pharmacy
    • Jan A. Hunt, RPh / Pharmacy
    • Michael Comess / Physician
    • Applied Biological Materials Inc / Corporate Office

    Property Details for 477 Horton Rd

    Year built
    1992
    Lot size
    1.89 lot acres
    Zone code
    PI
    Property type
    Drug stores
    APN
    380201 365075 0000
    APU
    3802013650750000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 15, 2020 — Isi Nxt LLC — Deed · related —
    Aug 7, 2020 — Isi Nxt LLC — Deed · related $1.3M · Ameritrust Cdc
    Jul 9, 2020 $3,150,000 1st Nxt LLC Applied Biological Materials USA In Warranty Deed $1.3M · Bank Of The Pacific
    Dec 6, 2018 — Applied Biological Materials U Applied Biological Materials I Quit Claim Deed · related —
    Feb 1, 2018 $2,750,000 Applied Biological Materials I Chowanec Trust Warranty Deed $2.3M · Business Dev Bk/canada
    Jul 27, 2015 $2,400,000 Chowanec Trust Schims,kenneth P & Denise Warranty Deed —
    Apr 3, 2002 — Kenneth P Schims Archer F S INC Grant Deed · related —
    Oct 5, 2001 $1,396,078 Archer F S INC Tci Cablevision Wa INC Grant Deed $658k · Charles D Grimshaw
    — — Isi Nxt LLC — Deed Of Trust · related $1.3M · Ameritrust Cdc
    — — Isi Nxt LLC — Loan Modification · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,760,000
      ML approach
      $3,700,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,710,000
      6.5%
      $2,500,000
      7%
      $2,325,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,464,000
      Market price range: $2.13M - $5.28M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,000,000
      Current use
      RESTAURANT
      $5,350,000
      Change: +34% Conversion: Easy
      OFFICE BUILDING
      $4,760,000
      Change: +19% Conversion: Easy
      MEDICAL BUILDING
      $4,230,000
      Change: +6% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,080,000
      Change: +2% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bellingham
    County
    Whatcom
    State
    Washington
    Longitude
    -122.495
    Latitude
    48.8063
    CBSA code
    13380
    CBSA name
    BELLINGHAM, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $21,763
    $747,130
    $2,728,954
    $3,476,084
    -
    $747,130
    $2,728,954
    $3,476,084

    Comparable in this City

    • Value Estimation
      $3,460,000
      1.21 Acres

      477 Horton Rd

      DRUG STORE, PHARMACY
      477 Horton Rd, Bellingham, WA 98226-1205
      View Details
    • Value Estimation by Request
      1,557 SF

      4264 Pacific Hwy

      DRUG STORE, PHARMACY
      4264 Pacific Hwy, Bellingham, WA 98226-9042
      View Details
    • Value Estimation
      $2,845,000
      15,036 SF

      4090 Meridian St

      DRUG STORE, PHARMACY
      4090 Meridian St, Bellingham, WA 98226-5517
      View Details
    • Value Estimation by Request
      1,248 SF

      1706 Mt Baker Hwy

      DRUG STORE, PHARMACY
      1706 Mt Baker Hwy, Bellingham, WA 98226-8721
      View Details
    • Value Estimation by Request
      1,050 SF

      4712 Pacific Hwy

      DRUG STORE, PHARMACY
      4712 Pacific Hwy, Bellingham, WA 98226-9049
      View Details
    • Value Estimation
      $665,000
      1,824 SF

      4770 Pacific Hwy, Unit 1

      DRUG STORE, PHARMACY
      4770 Pacific Hwy, Bellingham, WA 98226-9049
      View Details

    Similar Nearby for Sale

    • $5,900,000

      Freestanding Retail Building with Corporate Lease

      Freestanding 12,096 SF retail building with long-term corporate lease.
      189 East Bakerview Rd, Bellingham, WA 98226
      View Details
    • Contact for pricing
      4,960 SF

      Prime Restaurant/Retail Property For Sale

      Standalone property with high visibility and accessibility near airport.
      1650 W Bakerview Rd, Bellingham, WA 98226
      View Details
    • Contact for pricing

      Profitable Oriental Grocery Store

      Turn-key oriental grocery store with high revenue and growth potential.
      4056 Meridian St, Bellingham, WA 98226
      View Details
    • Contact for pricing

      Cordata Area Land Opportunity

      Land in the expanding Cordata area of Bellingham, Washington.
      331 W Horton Rd, Bellingham, WA 98226
      View Details
    • Contact for pricing

      Commercial Corner Lot for Sale

      One-acre commercial corner lot with high traffic and bus stop.
      W Axton Rd, Bellingham, WA 98226
      View Details
    • Contact for pricing

      Profitable Bubble Tea Business Opportunity

      Established Happy Lemon franchise for sale in Bellingham, WA.
      1155 E Sunset Dr, Bellingham, WA 98226
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,866 SF

      Retail Center Near Bellis Fair

      High-visibility retail spaces available near Bellis Fair Mall.
      117-201 Telegraph Rd, Bellingham, WA 98226
      View Details
    • Contact for pricing
      7,853 SF

      North Bellingham Commercial Building For Rent

      Commercial building in North Bellingham with showroom and warehouse space.
      145 E Stuart Rd, Bellingham, WA 98226
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Blossom Commons

      Retail space available in a busy shopping center.
      115-159 W Kellogg Rd, Bellingham, WA 98226
      View Details
    • Contact for pricing
      5,019 SF

      Retail Medical Office Hub

      Retail and medical office spaces available in Bellingham, WA.
      4280 Meridian St, Bellingham, WA 98226
      View Details
    • Contact for pricing
      3,125 SF

      Prime Retail Space on Meridian

      High-traffic retail space with open floor plan and parking.
      4220 Guide Meridian, Bellingham, WA 98226
      View Details
    • Contact for pricing
      2,476 SF

      Retail Space in Barkley Village

      Reimagined retail space with planned enhancements and high ceilings.
      2955 Newmarket St, Bellingham, WA 98226
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    477 Horton Rd
    Bellingham, WA 98226-1205
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    477 Horton Rd, Bellingham, WA, 98226
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!