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Property profile & analytics
OFF-MARKET
Estimated value
$2,175,000
Medical Office Space
600 Birchwood Ave Bellingham, WA 98225-1757
Entity Owned
5-yr Hold
Free & Clear
Property ID
US90-0136004
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1992
Total area
14,672 SF
Lot
1.64 ac (71,569 SF)
Zoning code
LIL
APN
380318 167085 0000
UPID
US90-0136004
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
-
Option Care Health Pharmacy
-
Tomoyuki Ochiai Pediatrician Physician
-
Sloane Winkes Pediatrician Physician
-
Dana K. Sobieski, LMP Alternative Medicine Practice Spa & Massage Center
-
Access Living Inc Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.52M
CAP Approach
CAP
$2.22M
Comparable Approach
Comparable
$2.12M
Blend (final)
Blend
$2.18M
Owner & transaction history
Cal & Bernetta Leenstra Family LLC · 5 yrs held
Cal & Bernetta Leenstra Family LLC
since 2021
Last sale
$2.1M
3 recorded transactions
Zoning & alternative use
LIL · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Bellingham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bellingham 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
$2,370,000
ML approach
$2,515,000
CAP Approach
CAP Return
Estimation
6%
$2,400,000
6.5%
$2,220,000
7%
$2,060,000
Blend value · Realmo final
$2.18M
Range $1.96M – $2.39M · ±10% · vs last sale $2.09M (Feb 11 2021)
Last sale anchor
$2.09M
Feb 11 2021
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
$148 / 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
$24,676
Tax year 2021
Assessed value
$3,587,236
Assessed 2022
Previous assessed
$3,587,236
+0.0% YoY
Effective rate
0.69%
On assessed value
Assessed land
$1,645,647
Assessed improvement
$1,941,589
Land market value
$1,645,647
Improvement market value
$1,941,589
Total market value
$3,587,236
Applied tax rate
100.0000
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
1992
Heating
NONE
Cooling
EVAPORATIVE
Total area
14,672 SF
Lot
1.64 ac (71,569 SF)
Zoning code
LIL
APN
380318 167085 0000
UPID
US90-0136004
Jurisdiction
WHATCOM
Zoning & alternative use
LIL · Bellingham, WA
Zoning LIL · permitted uses
LIL · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bellingham. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1992
Heating
NONE
Cooling
Yes
Lot
1.64 ac
Current owner
From public records · entity-resolved
Cal & Bernetta Leenstra Family LLC
Entity
Free & Clear · 5 yrs held
Mailing address
2300 JAMES ST STE #205, BELLINGHAM, WA 98225-3849
Ownership since
2021
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
Feb 11, 2021
—
Cal & Bernetta Leenstra Family LLC
Calvin Leenstra
Intrafamily Transfer
related
—
Sep 29, 1999
$2,086,556
Calvin Leenstra
Lke Christensen Group LLC
Grant Deed
$893,500 · Seller
Mar 17, 1999
—
L K E Christensen Group LLC
Christensen Trust
Quit Claim Deed
related
—
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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