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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    506 Grover St Lynden, WA 98264-1960

    • Office buildings
    • 5,975 SF
    • 0.32 lot acres
    OFF-MARKET
    Value Estimations
    $1,310,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0494619
    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.

    Current Use by Public Records

    • Children's House International / Non-Profit Organization / Adoption Agency
    • Hope and Thrive Counseling / Mental Health Clinic
    • Lynden Family Dental Clinic / Dentist
    • Lynden Family Dental Clinic: Klein Robert H DDS / Dentist
    • Aspire Wellness / Weight Loss Service / Skin Care Clinic

    Property Details for 506 Grover St

    Year built
    1983
    Lot size
    0.32 lot acres
    Property size
    5,975 SF
    Zone code
    CSL
    Property type
    Office buildings
    APN
    400320 224336 0000
    APU
    4003202243360000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,485,000
      6.5%
      $1,370,000
      7%
      $1,275,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,638,000
      Market price range: $1.00M - $2.47M
      AI Estimate
      $925,000
      Market price range: $410k - $1.52M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,740,000
      Current use
      RESTAURANT
      $2,030,000
      Change: +17% Conversion: Moderate
      MEDICAL BUILDING
      $1,855,000
      Change: +7% Conversion: Easy
      RETAIL STORES
      $1,505,000
      Change: -14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynden
    County
    Whatcom
    State
    Washington
    Longitude
    -122.454
    Latitude
    48.9438
    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
    $6,471
    $310,209
    $617,506
    $927,715
    -
    $310,209
    $617,506
    $927,715

    Comparable in this City

    • Value Estimation by Request
      5,366 SF

      601 Frnt St

      PROFESSIONAL BUILDING • 5,366 SF
      601 Frnt St, Lynden, WA 98264-1924
      View Details
    • Value Estimation
      $975,000
      3,183 SF

      400 5th St

      PROFESSIONAL BUILDING • 3,183 SF
      400 5th St, Lynden, WA 98264-1302
      View Details
    • Value Estimation by Request
      4,650 SF

      501 Frnt St

      PROFESSIONAL BUILDING • 4,650 SF
      501 Frnt St, Lynden, WA 98264-1922
      View Details
    • Value Estimation
      $960,000
      3,500 SF

      719 Grover St

      PROFESSIONAL BUILDING • 3,500 SF
      719 Grover St, Lynden, WA 98264-1851
      View Details
    • Value Estimation
      $960,000
      3,776 SF

      719 Grover St

      PROFESSIONAL BUILDING • 3,776 SF
      719 Grover St, Lynden, WA 98264-1851
      View Details
    • Value Estimation
      $855,000
      2,410 SF

      8883 Guide Meridian Rd

      PROFESSIONAL BUILDING • 2,410 SF
      8883 Guide Meridian Rd, Lynden, WA 98264-9758
      View Details

    Similar Nearby for Sale

    • $2,000,000
      12,470 SF

      Lynden Office/Industrial Corner Property

      Office and industrial property with warehouse and mezzanine features.
      113 6Th St, Lynden, WA 98264
      View Details
    • $1,350,000
      7,880 SF

      Lynden Office/Industrial Corner Property

      Office and warehouse space with off-street parking in Lynden.
      113 6Th St, Lynden, WA 98264
      View Details
    • $2,000,000

      Lynden Office/Industrial Blend Property

      Office and warehouse space in Lynden, WA, for sale.
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      View Details
    • $1,800,000

      Lynden Warehouse on 3.7 Acres

      9,792 SF steel building on 3.7 acres for sale.
      6881 E 5Th Pl, Lynden, WA 98264
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    • $1,395,000

      Prime Commercial Site in Lynden

      Corner lot with regional zoning and completed stormwater infrastructure.
      102 Duffner Dr, Lynden, WA 98264
      View Details
    • Contact for pricing

      Freestanding CVS with Drive-Thru

      Single-tenant CVS in Lynden, WA with long-term lease.
      8090 Washington 539, Lynden, WA 98264
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      112,366 SF

      Lynden Towne Plaza Retail Space

      Grocery-anchored retail center; multiple spaces available.
      8110 Guide Meridian Rd, Lynden, WA 98264
      View Details
    • $8,333 /Mo
      40,000 SF

      High-Profile Retail Corner in Lynden

      Visible corner location near retail hub with high traffic.
      8035 Guide Meridian Rd, Lynden, WA 98264
      View Details
    • $30 SF/Yr
      2,000 SF

      Lynden Towne Plaza Pad Site

      Prime Retail Pad, High Traffic Location
      8112 Wa-539, Lynden, WA 98264
      View Details
    • $15 SF/Yr
      13,436 SF

      Retail Space Available for Lease

      Retail property with 13,436 square feet available for lease.
      8038 Guide Meridian Rd, Lynden, WA 98264
      View Details
    • Contact for pricing
      1,480 SF

      Retail Space on Guide Meridian

      Retail space available for lease on Guide Meridian Road.
      8083 Guide Meridian Rd, Lynden, WA 98264
      View Details
    • Contact for pricing
      73,442 SF

      Lynden Retail Space For Lease

      Prime Lynden storefront, 1,480 sq ft available.
      8071 Guide Meridian Rd, Lynden, WA 98264
      View Details
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    Lynden, WA 98264-1960
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    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
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