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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Commercial land
5623 Riverside Dr, Ferndale, WA 98248-9443
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-2756372
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
2018
Total area
2,735 SF
Lot
0.22 ac (9,583 SF)
Zoning code
MCD
APN
390229 391465 0000
UPID
US90-2756372
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
-
Taco Time NW Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$535k
Comparable Approach
Comparable
$542k
Blend (final)
Blend
$555k
Owner & transaction history
Legato INC · 7 yrs held
Legato INC
since 2018
3 recorded transactions
Zoning & alternative use
MCD · Ferndale, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$850,000
+17.8%
Office building
$795,000
+10.5%
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%
$580,000
6.5%
$535,000
7%
$495,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$720,000
Current use
MEDICAL BUILDING
$850,000
Change: +18% · Conversion: Easy
OFFICE BUILDING
$795,000
Change: +10% · Conversion: Easy
RETAIL STORES
$690,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$555k
Range $500k – $611k · ±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
$203 / 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
$1,074
Tax year 2024
Assessed value
$154,496
Assessed 2023
Previous assessed
$166,114
-7.0% YoY
Effective rate
0.70%
On assessed value
Assessed land
$154,496
Land market value
$154,496
Total market value
$154,496
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
2018
Heating
NONE
Total area
2,735 SF
Lot
0.22 ac (9,583 SF)
Zoning code
MCD
APN
390229 391465 0000
UPID
US90-2756372
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
COMMERCIAL (GENERAL) Current
Est. value
$720,000
MEDICAL BUILDING
Est. value
$850,000
OFFICE BUILDING
Est. value
$795,000
RETAIL STORES
Est. value
$690,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
OFFICE BUILDING
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
2018
Heating
NONE
Lot
0.22 ac
Current owner
From public records · entity-resolved
Legato INC
Entity
Free & Clear · 7 yrs held
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Nov 6, 2018
$650,000
Legato INC
Ferndale Tt LLC
Warranty Deed
—
Feb 9, 2016
$575,893
Ferndale Tt LLC
Can-america Exports INC
Warranty Deed
—
—
—
Legato INC
—
Deed Of Trust
related
$1,680,000 · Us Bk
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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