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Property profile & analytics
OFF-MARKET
Estimated value
$3,580,000
Medical Office Space
5580 Nordic Way, Ferndale, WA 98248-5104
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0951708
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2006
Total area
10,750 SF
Lot
1.31 ac (57,194 SF)
Zoning code
MCD
APN
390229 502400 0000
UPID
US90-0951708
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
$4.15M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.92M
Blend (final)
Blend
$3.58M
Owner & transaction history
Fernmed Investments LLC · 3 yrs held
Fernmed Investments LLC
since 2023
Last sale
$3.4M
4 recorded transactions
Zoning & alternative use
MCD · Ferndale, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.7M
+9.6%
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 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
$3,945,000
ML approach
$4,145,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,335,000
Current use
RESTAURANT
$3,655,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$3,125,000
Change: -6% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,830,000
Change: -15% · Conversion: Easy
RETAIL STORES
$2,705,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$3.58M
Range $3.22M – $3.94M · ±10% · vs last sale $3.44M (Apr 18 2023)
Last sale anchor
$3.44M
Apr 18 2023
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
$333 / 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
$17,283
Tax year 2024
Assessed value
$2,487,131
Assessed 2023
Previous assessed
$2,573,843
-3.4% YoY
Effective rate
0.69%
On assessed value
Assessed land
$714,725
Assessed improvement
$1,772,406
Land market value
$714,725
Improvement market value
$1,772,406
Total market value
$2,487,131
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2006
Heating
NONE
Cooling
YES
Total area
10,750 SF
Lot
1.31 ac (57,194 SF)
Zoning code
MCD
APN
390229 502400 0000
UPID
US90-0951708
Jurisdiction
WHATCOM
Zoning & alternative use
MCD · Ferndale, WA
Zoning MCD · permitted uses
MCD · 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
MEDICAL BUILDING Current
Est. value
$3.3M
RESTAURANT
Est. value
$3.7M
OFFICE BUILDING
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$2.8M
RETAIL STORES
Est. value
$2.7M
MEDICAL BUILDING Current
RESTAURANT
OFFICE 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
1.31 ac
Current owner
From public records · entity-resolved
Fernmed Investments LLC
Entity
Mailing address
5580 NORDIC WAY, FERNDALE, WA 98248-5104
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2023
$3,440,000
Fernmed Investments LLC
Hruby Safford Medical Facilities Ll
Bargain And Sale Deed
$2,090,000 · Bank Of The Pacific
Jun 7, 2005
—
Hruby-safford Medical Faciliti
—
Trustees Deed
related
$1,900,000 · Key Bank NA
Jan 7, 2005
$295,000
Hruby-safford Medical Faciliti
Larson,herbert A
Warranty Deed
—
—
—
Hruby-safford Medical Faciliti
—
Deed Of Trust
related
$1,500,000 · Whatcom Educational Cu
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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