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Property profile & analytics
OFF-MARKET
Estimated value
$2,850,000
Drug stores
5655 3rd Ave Ferndale, WA 98248-8394
Trust Owned
11-yr Hold
~
Est. High Equity
Property ID
US90-1824288
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1962
Total area
17,278 SF
Lot
1 ac (43,734 SF)
Zoning code
CTC
APN
390229 057506 0000
UPID
US90-1824288
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
-
Rite Aid Photo (Bike/Boat/Book/etc) Store
-
CDReload - Online Bitcoin ATM Atm Currency Exchange Service
-
Rite Aid Pharmacy
-
Coinhub Bitcoin ATM Teller Atm
-
Rite Aid Pharmacy Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.17M
Comparable Approach
Comparable
$2.35M
Blend (final)
Blend
$2.85M
Owner & transaction history
Lee Family Trust · 11 yrs held
Lee Family Trust
since 2015
5 recorded transactions
Zoning & alternative use
CTC · Ferndale, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.6M
+4.7%
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%
$3,435,000
6.5%
$3,170,000
7%
$2,945,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,345,000
Current use
COMMERCIAL (GENERAL)
$4,550,000
Change: +5% · Conversion: Easy
Blend value · Realmo final
$2.85M
Range $2.57M – $3.14M · ±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
$165 / 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
$21,611
Tax year 2021
Assessed value
$3,222,131
Assessed 2022
Previous assessed
$3,222,131
+0.0% YoY
Effective rate
0.67%
On assessed value
Assessed land
$845,618
Assessed improvement
$2,376,513
Land market value
$845,618
Improvement market value
$2,376,513
Total market value
$3,222,131
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1962
Heating
NONE
Cooling
YES
Total area
17,278 SF
Lot
1 ac (43,734 SF)
Zoning code
CTC
APN
390229 057506 0000
UPID
US90-1824288
Jurisdiction
WHATCOM
Zoning & alternative use
CTC · Ferndale, WA
Zoning CTC · permitted uses
CTC · 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
RETAIL STORES Current
Est. value
$4.3M
COMMERCIAL (GENERAL)
Est. value
$4.6M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1962
Heating
NONE
Cooling
Yes
Lot
1 ac
Current owner
From public records · entity-resolved
Lee Family Trust
Trust
Mailing address
PO BOX 66978, SCOTTS VALLEY, CA 95067-6978
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 21, 2015
$3,800,000
Lee Family Trust
M & L Financial Co Xxvi
Warranty Deed
$2,370,000 · 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
$1,500,000 · 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
$1,938,600 · Wells Fargo 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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