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Property profile & analytics
OFF-MARKET
Estimated value
$955,000
Super regional malls
5 Bellis Fair Pkwy, Bellingham, WA 98226-5573
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-1716322
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
2014
Total area
21,388 SF
Lot
2.01 ac (87,425 SF)
Zoning code
PREC
APN
380213 478375 0000
UPID
US90-1716322
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
-
Bellis Fair - Food Court Lot Parking Lot & Garage
-
Chipotle Parking Lot Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$825k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.08M
Blend (final)
Blend
$955k
Owner & transaction history
Chick Fil A INC · 2 yrs held
Chick Fil A INC
since 2024
5 recorded transactions
Zoning & alternative use
PREC · 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
$825,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$860,000
Current use
Blend value · Realmo final
$955k
Range $860k – $1.05M · ±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
$45 / 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
$35,876
Tax year 2024
Assessed value
$4,614,280
Assessed 2023
Previous assessed
$4,614,280
+0.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$1,486,157
Assessed improvement
$3,128,123
Land market value
$1,486,157
Improvement market value
$3,128,123
Total market value
$4,614,280
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
2014
Heating
NONE
Cooling
YES
Total area
21,388 SF
Lot
2.01 ac (87,425 SF)
Zoning code
PREC
APN
380213 478375 0000
UPID
US90-1716322
Jurisdiction
WHATCOM
Zoning & alternative use
PREC · Bellingham, WA
Zoning PREC · permitted uses
PREC · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$860,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
2014
Heating
NONE
Cooling
Yes
Lot
2.01 ac
Current owner
From public records · entity-resolved
Chick Fil A INC
Entity
Free & Clear · 2 yrs held
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 12, 2025
—
Bellis Fair Mall Territories LLC
—
Deed
related
$7,000,000 · Preferred Bank
Sep 17, 2024
—
Bellis Fair Mall Territories LLC
—
Deed
related
$15,000,000 · Preferred Bank
May 13, 2024
—
Chick Fil A INC
Bellis Fair Mall Territories LLC
Contract Sale
—
Dec 19, 2022
—
Bellis Fair Mall Territories LLC
Bellis Fair Mall LLC
Deed In Lieu Of Foreclosure
related
$24,000,000 · Psof Cinvestor I LLC
—
—
Bellis Fair Mall LLC
—
Deed Of Trust
related
$94,500 · Column Financial INC
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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