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Property profile & analytics
OFF-MARKET
Estimated value
$1,650,000
Investment properties
485 Horton Rd, Bellingham, WA 98226-1205
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-0653598
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
2002
Total area
7,012 SF
Lot
1.66 ac (72,092 SF)
Zoning code
PI
APN
380201 337060 0000
UPID
US90-0653598
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
$1.80M
CAP Approach
CAP
$1.37M
Comparable Approach
Comparable
$2.11M
Blend (final)
Blend
$1.65M
Owner & transaction history
Whatcom Property Holdings LLC · 5 yrs held
Whatcom Property Holdings LLC
since 2020
Last sale
$1.5M
3 recorded transactions
Zoning & alternative use
PI · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.5M
+16.6%
Medical building
$2.2M
+3.6%
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
$1,730,000
ML approach
$1,800,000
CAP Approach
CAP Return
Estimation
6%
$1,485,000
6.5%
$1,370,000
7%
$1,270,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,100,000
Current use
OFFICE BUILDING
$2,450,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$2,175,000
Change: +4% · Conversion: Easy
RETAIL STORES
$2,055,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$1.65M
Range $1.49M – $1.82M · ±10% · vs last sale $1.45M (Dec 10 2020)
Last sale anchor
$1.45M
Dec 10 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
$235 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$13,357
Tax year 2024
Assessed value
$1,797,617
Assessed 2023
Previous assessed
$1,672,776
+7.5% YoY
Effective rate
0.74%
On assessed value
Assessed land
$726,155
Assessed improvement
$1,071,462
Land market value
$726,155
Improvement market value
$1,071,462
Total market value
$1,797,617
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
2002
Heating
NONE
Cooling
YES
Total area
7,012 SF
Lot
1.66 ac (72,092 SF)
Zoning code
PI
APN
380201 337060 0000
UPID
US90-0653598
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
COMMERCIAL (GENERAL) Current
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.2M
RETAIL STORES
Est. value
$2.1M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
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
2002
Heating
NONE
Cooling
Yes
Lot
1.66 ac
Current owner
From public records · entity-resolved
Whatcom Property Holdings LLC
Entity
Free & Clear · 5 yrs held
Mailing address
133 E WISER LK RD, LYNDEN, WA 98264-9451
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 10, 2020
$1,450,000
Whatcom Property Holdings LLC
Thurston House LLC
Warranty Deed
—
Oct 9, 2013
—
Thurston House LLC
Thurston Family Trust
Quit Claim Deed
related
—
Sep 4, 2013
$187,794
Thurston Family Trust
Morel Jerrat K Trust
Quit Claim Deed
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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