Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,250,000
Drug stores
477 Horton Rd Bellingham, WA 98226-1205
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-1663308
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1992
Total area
13,632 SF
Lot
1.89 ac (82,328 SF)
Zoning code
PI
APN
380201 365075 0000
UPID
US90-1663308
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
-
Infusion Solutions Pharmacy
-
Jennifer R. Harbick, PharmD Pharmacy
-
Jan A. Hunt, RPh Pharmacy
-
Michael Comess Physician
-
Applied Biological Materials Inc Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.70M
CAP Approach
CAP
$2.50M
Comparable Approach
Comparable
$4.46M
Blend (final)
Blend
$3.25M
Owner & transaction history
1st Nxt LLC · 6 yrs held
1st Nxt LLC
since 2020
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
PI · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.4M
+33.8%
Office building
$4.8M
+19.0%
Medical building
$4.2M
+5.7%
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
$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
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
Blend value · Realmo final
$3.25M
Range $2.93M – $3.58M · ±10% · vs last sale $3.15M (Jul 9 2020)
Last sale anchor
$3.15M
Jul 9 2020
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
$238 / 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
$21,763
Tax year 2021
Assessed value
$3,476,084
Assessed 2022
Previous assessed
$3,476,084
+0.0% YoY
Effective rate
0.63%
On assessed value
Assessed land
$747,130
Assessed improvement
$2,728,954
Land market value
$747,130
Improvement market value
$2,728,954
Total market value
$3,476,084
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1992
Heating
NONE
Cooling
YES
Total area
13,632 SF
Lot
1.89 ac (82,328 SF)
Zoning code
PI
APN
380201 365075 0000
UPID
US90-1663308
Jurisdiction
WHATCOM
Zoning & alternative use
PI · Bellingham, WA
Zoning PI · permitted uses
PI · 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.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.0M
RESTAURANT
Est. value
$5.4M
OFFICE BUILDING
Est. value
$4.8M
MEDICAL BUILDING
Est. value
$4.2M
COMMERCIAL (GENERAL)
Est. value
$4.1M
RETAIL STORES Current
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1992
Heating
NONE
Cooling
Yes
Lot
1.89 ac
Current owner
From public records · entity-resolved
1st Nxt LLC
Entity
Mailing address
2159 DELLESTA DR, BELLINGHAM, WA 98226-7850
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2020
—
Isi Nxt LLC
—
Deed
related
—
Aug 7, 2020
—
Isi Nxt LLC
—
Deed
related
$1,300,000 · Ameritrust Cdc
Jul 9, 2020
$3,150,000
1st Nxt LLC
Applied Biological Materials USA In
Warranty Deed
$1,260,000 · 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
$2,337,500 · 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
$657,500 · Charles D Grimshaw
—
—
Isi Nxt LLC
—
Deed Of Trust
related
$1,300,000 · Ameritrust Cdc
—
—
Isi Nxt LLC
—
Loan Modification
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 477 Horton Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
