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    5655 3rd Ave Ferndale, WA 98248-8394
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    Property profile & analytics

    5655 3rd Ave, Ferndale, WA 98248-8394

    View on Map
    • Drug stores
    • 17,278 SF
    • 1.00 lot acres
    Off-Market
    Property ID
    US90-1824288
    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.
    Value Estimations
    $2,850,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Rite Aid Photo / (Bike/Boat/Book/etc) Store
    • CDReload - Online Bitcoin ATM / Currency Exchange Service / Money Transfer Service
    • Rite Aid / Pharmacy
    • Coinhub Bitcoin ATM Teller / Atm
    • Rite Aid Pharmacy / Pharmacy

    Property Details for 5655 3rd Ave

    Year built
    1962
    Lot size
    1.00 lot acres
    Zone code
    CTC
    Property type
    Drug stores
    APN
    390229 057506 0000
    APU
    3902290575060000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 21, 2015 $3,800,000 Lee Family Trust M & L Financial Co Xxvi Warranty Deed $2.4M · Miscellaneous Ins Co
    Apr 25, 2005 $3,196,257 M & L Financial Co Xxvi Baldridge-ferndale LLC Grant Deed · related —
    Apr 13, 2005 $3,196,257 M & L Financial Co Xxvi Baldridge-ferndale LLC Grant Deed · related $1.5M · M&l Financial Properties INC
    Oct 8, 2004 — W & R Properties LLC Ries Family Trust Quit Claim Deed · related —
    Oct 8, 2004 $1,100,000 Baldridge-ferndale LLC W & R Properties LLC Grant Deed $1.9M · Wells Fargo Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,435,000
      6.5%
      $3,170,000
      7%
      $2,945,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,352,000
      Market price range: $755k - $2.54M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,345,000
      Current use
      COMMERCIAL (GENERAL)
      $4,550,000
      Change: +5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Ferndale
    County
    Whatcom
    State
    Washington
    Longitude
    -122.593
    Latitude
    48.8469
    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
    $21,611
    $845,618
    $2,376,513
    $3,222,131
    -
    $845,618
    $2,376,513
    $3,222,131

    Comparable in this City

    • Value Estimation
      $2,695,000
      14,476 SF

      1901 Main St

      DRUG STORE, PHARMACY
      1901 Main St, Ferndale, WA 98248-9451
      View Details
    • Value Estimation
      $770,000
      3,942 SF

      5917 Portal Way

      DRUG STORE, PHARMACY
      5917 Portal Way, Ferndale, WA 98248-9361
      View Details
    • Value Estimation by Request
      1.39 Acres

      5921 Portal Way

      DRUG STORE, PHARMACY
      5921 Portal Way, Ferndale, WA 98248-9361
      View Details
    • Value Estimation by Request
      108 SF

      2348 Main St

      LAUNDROMAT (SELF-SERVICE)
      2348 Main St, Ferndale, WA 98248-9274
      View Details
    • Value Estimation
      $6,030,000
      58,310 SF

      1350 Pacific Pl

      GROCERY, SUPERMARKET
      1350 Pacific Pl, Ferndale, WA 98248-8985
      View Details
    • Value Estimation
      $1,360,000
      7,200 SF

      6195 Portal Way, Unit 1

      RETAIL STORES (PERSONAL SERVICES)
      6195 Portal Way, Ferndale, WA 98248-9363
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Stand-alone building in shell condition, retail/warehouse mix, ample parking.
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      11,040 SF

      Ferndale Retail Property for Sale

      Retail property with 11,040 square feet of space.
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    • $328,000

      concrete floors

      utility sink
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      57,964 SF

      Industrial Property in Desirable Location

      Industrial building with acreage in a desirable Ferndale location.
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      Commercial Land Near I-5 Exit

      Commercial land with easy I-5 access and expansion potential.
      6850 Portal Way, Ferndale, WA 98248
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      Commercial Land with Existing Building

      Commercial land with mixed-use zoning and an existing 12,000-SF building.
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    Similar Nearby for Lease

    • Contact for pricing
      7,158 SF

      New Retail & Office Space

      New construction retail and office space in a growing area.
      6252 Portal Way, Ferndale, WA 98248
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    • Contact for pricing
      5,850 SF

      High-Visibility Retail Space Available

      Retail spaces available along I-5 with ample parking.
      5100 Pacific Hwy, Ferndale, WA 98248
      View Details
    • Contact for pricing
      7,500 SF

      Retail Center Near Interstate 5

      28,000 SF retail center near I-5 in Ferndale, WA.
      5905 Portal Way, Ferndale, WA 98248
      View Details
    • Contact for pricing
      12,760 SF

      Functional Service-Industrial Property in Ferndale

      Service-industrial property with shop space and service bay infrastructure.
      5707-5709 Barrett Rd, Ferndale, WA 98248
      View Details
    • Contact for pricing

      Retail and Office Complex

      Retail and office spaces available in a high-traffic commercial area.
      1859 Main St, Ferndale, WA 98248
      View Details
    • Contact for pricing
      600,000 SF

      Industrial Space Near Canadian Border

      Up to 600,000 SF available with I-5 access.
      2240 Grandview Rd, Ferndale, WA 98248
      View Details
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    5655 3rd Ave
    Ferndale, WA 98248-8394
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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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