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Property profile & analytics
OFF-MARKET
Estimated value
$2,600,000
Industrial properties
5090 Samish Way Bellingham, WA 98229-8963
Entity Owned
5-yr Hold
Free & Clear
Property ID
US90-0876661
Property profile
Verified
Property type
Industrial properties
Use group
HEAVY INDUSTRIAL
Year built
2014
Total area
19,896 SF
Lot
5.1 ac (222,156 SF)
Zoning code
R5A
APN
370315 450062 0000
UPID
US90-0876661
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
-
Emission Technologies Inc Corporate Office
-
Outpost Eats Food Truck Restaurant
-
Transition Bike Company & Outpost Big Box & Wholesale Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.20M
CAP Approach
CAP
$1.89M
Comparable Approach
Comparable
$1.87M
Blend (final)
Blend
$2.60M
Owner & transaction history
Futureman Investments LLC · 5 yrs held
Futureman Investments LLC
since 2021
Last sale
$2.7M
3 recorded transactions
Zoning & alternative use
R5A · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$4.0M
+11.0%
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
$3,235,000
ML approach
$3,200,000
CAP Approach
CAP Return
Estimation
6%
$2,050,000
6.5%
$1,890,000
7%
$1,755,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,615,000
Current use
WAREHOUSE, STORAGE
$4,015,000
Change: +11% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,445,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$2.60M
Range $2.34M – $2.86M · ±10% · vs last sale $2.70M (Apr 2 2021)
Last sale anchor
$2.70M
Apr 2 2021
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
$131 / 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
$18,365
Tax year 2021
Assessed value
$3,100,178
Assessed 2022
Previous assessed
$3,100,178
+0.0% YoY
Effective rate
0.59%
On assessed value
Assessed land
$307,400
Assessed improvement
$2,792,778
Land market value
$307,400
Improvement market value
$2,792,778
Total market value
$3,100,178
Applied tax rate
1,035.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Industrial properties
Use group
HEAVY INDUSTRIAL
Status
Off-Market
Year built
2014
Heating
NONE
Cooling
YES
Total area
19,896 SF
Lot
5.1 ac (222,156 SF)
Zoning code
R5A
APN
370315 450062 0000
UPID
US90-0876661
Jurisdiction
WHATCOM
Zoning & alternative use
R5A · Bellingham, WA
Zoning R5A · permitted uses
R5A · 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
INDUSTRIAL (GENERAL) Current
Est. value
$3.6M
WAREHOUSE, STORAGE
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$3.4M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
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
5.1 ac
Current owner
From public records · entity-resolved
Futureman Investments LLC
Entity
Free & Clear · 5 yrs held
Mailing address
5090 SAMISH WAY, BELLINGHAM, WA 98229-8963
Ownership since
2021
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
Apr 2, 2021
—
Futureman Investments LLC
Spakank Holdings LLC
Quit Claim Deed
related
—
Aug 25, 2020
$2,700,000
Spakank Holdings LLC
Robert W Wilson
Warranty Deed
$3,120,000 · Peoples Bank
May 30, 2000
$90,000
Robert W Wilson
Ratcliff,imogene
Grant Deed
—
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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