New search
Property profile & analytics
OFF-MARKET
Estimated value
$6,520,000
Office Spaces
5160 Industrial Pl, Ferndale, WA 98248-7819
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US90-0106066
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2006
Total area
27,960 SF
Lot
1.88 ac (81,893 SF)
Zoning code
LI
APN
390233 443348 0000
UPID
US90-0106066
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
-
Bold Eye Media Advertising Agency Marketing & Advertising
-
Baker Septic Tank Pumping Plumbing Service
-
Land Development Engineering and Surveying Inc. General Contractor
-
NW Technology IT Consulting Firm (Bike/Boat/Book/etc) Store
-
MJH Engineering Structural Engineer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.13M
Blend (final)
Blend
$6.52M
Owner & transaction history
5160 Pip LLC
5160 Pip LLC
since 2026
7 recorded transactions
Zoning & alternative use
LI · Ferndale, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.5M
+16.9%
Medical building
$8.7M
+6.7%
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 Ferndale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ferndale 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,130,000
Current use
RESTAURANT
$9,505,000
Change: +17% · Conversion: Moderate
MEDICAL BUILDING
$8,670,000
Change: +7% · Conversion: Easy
COMMERCIAL (GENERAL)
$7,360,000
Change: -9% · Conversion: Easy
RETAIL STORES
$7,030,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$6.52M
Range $5.87M – $7.17M · ±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
$233 / 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 2023Property tax & assessments
Tax year 2023
Applied tax rate
200.0000
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2006
Heating
NONE
Cooling
YES
Total area
27,960 SF
Lot
1.88 ac (81,893 SF)
Zoning code
LI
APN
390233 443348 0000
UPID
US90-0106066
Jurisdiction
WHATCOM
Zoning & alternative use
LI · Ferndale, WA
Zoning LI · permitted uses
LI · Ferndale, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ferndale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$8.1M
RESTAURANT
Est. value
$9.5M
MEDICAL BUILDING
Est. value
$8.7M
COMMERCIAL (GENERAL)
Est. value
$7.4M
RETAIL STORES
Est. value
$7.0M
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
2006
Heating
NONE
Cooling
Yes
Lot
1.88 ac
Current owner
From public records · entity-resolved
5160 Pip LLC
Entity
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
28 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2026
—
5160 Pip LLC
Stella Polaris Properties LLC
Quitclaim Deed
related
—
Dec 23, 2025
—
Kyle Haggith And Sarah Haggith Liv
Kyle Haggith
Warranty Deed
—
Jul 20, 2023
—
Cutsforth Holding LLC
—
Deed
related
$2,000,000 · Tradition Capital Bank
Jun 27, 2023
$512,500
Yag Holdings LLC
Michael F Hughes
Warranty Deed
$385,750 · Mountain Pacific Bank
Mar 31, 2022
$429,086
Michael F Hughes
Pip Building LLC
Warranty Deed
—
May 28, 2021
$465,000
Stella Polaris Properties LLC
J Hugh Wiebe
Warranty Deed
—
Sep 3, 2020
—
Cutsforth Holdings LLC
—
Deed
related
$740,000 · Old National Bank
Apr 1, 2020
$550,000
Cutsforth Holdings LLC
Hol-con LLC
Warranty Deed
$357,000 · Peoples Bk
Nov 25, 2019
—
Cutsforth Holdings LLC
—
Deed
related
$344,400 · Peoples Bk
Sep 4, 2019
—
Heron Point Holdings LLP
—
Deed
related
$200,000 · Darcy & Michelle Wiebe
Oct 30, 2017
—
Kyle T Haggith
—
Deed
related
$50,000 · Us Bk
Jun 20, 2017
—
Kyle T Haggith
—
Deed
related
$177,000 · Us Bk
Jun 1, 2017
—
John H Wiebe
—
Deed
related
$165,526 · Skagit Bk
Feb 2, 2017
—
Pip Building LLC
—
Deed
related
—
Jan 23, 2017
—
Cristal Real Estates LLC
—
Deed
related
$203,188 · Us Bk
Jan 4, 2017
$350,000
Hol-con LLC
Tieman,richard A & Nancy
Warranty Deed
$300,000 · Rick A & Nancy Tieman
Aug 31, 2016
$335,000
J Hugh Wiebe
Silesia Dev LLC
Warranty Deed
—
May 9, 2016
—
Heron Point Holdings LLP
—
Deed
related
$300,626 · Heritage Bk
May 31, 2007
$390,000
Rko Investments LLC
Llanos,ramon & Ana
Warranty Deed
$380,400 · Cit Small Business Lending Co
May 4, 2007
—
Kyle Haggith
Haggith,sarah E
Quit Claim Deed
related
$235,000 · Skagit State Bank
Apr 26, 2007
$385,000
Integrated Investments LLC
Tieman,rick & Nancy
Warranty Deed
$405,000 · Banner Bank
Jun 30, 2006
—
Pip LLC
—
Trustees Deed
related
$1,600,000 · Skagit State Bank
Jun 3, 2005
$355,839
Pip LLC
Trillium Corp
Warranty Deed
—
—
—
P I P LLC
—
Deed Of Trust
related
$1,725,000 · Skagit State Bank
—
—
Richard A Tieman
—
Deed Of Trust
related
$65,700 · Skagit State Bank
—
—
Mats Harezlak
—
Deed Of Trust
related
$220,609 · Skagit State Bank
—
—
Mats Harezlak
—
Deed Of Trust
related
$220,609 · Skagit State Bank
—
—
Heron Point Properties LLC
—
Deed Of Trust
related
$150,000 · Whidbey Island Bank
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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