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Property profile & analytics
OFF-MARKET
Estimated value
$9,825,000
Industrial properties
6955 Salashan Pkwy, Ferndale, WA 98248-8314
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1389160
Property summary
AI-generated overview
This exceptional 40,000 square foot light industrial warehouse building presents a fantastic sublease opportunity, available January 1st, 2024, and extending until June 30th, 2027. Located within the desirable Grandview Business Park, this single-story building offers significant advantages for businesses seeking efficient and well-equipped space. The structure is a fully engineered, steel-framed building, complete with a comprehensive sprinkler system for enhanced safety. Loading and unloading are facilitated by one grade-level door and one loading dock, ensuring smooth operations. The property boasts substantial heavy power capacity, catering to businesses with significant energy demands. Ample parking is readily available, complemented by excellent ingress and egress points, simplifying transportation and logistics. This is a single-tenant building, providing exclusive use of the entire 40,000 square feet. The building's design and features make it ideal for a variety of industrial uses. Don't miss this chance to secure a prime location and well-maintained warehouse space in a thriving business park. Contact us today to schedule a viewing.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1998
Total area
60,000 SF
Lot
7 ac (304,920 SF)
Zoning code
LII
APN
390206 080124 0000
UPID
US90-1389160
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
-
Montigo (Factory) Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.82M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.92M
Blend (final)
Blend
$9.83M
Owner & transaction history
Salashan Industrial LLC · 4 yrs held
Salashan Industrial LLC
since 2022
Last sale
$10.0M
2 recorded transactions
Zoning & alternative use
LII · Ferndale, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$15.8M
+54.3%
Retail stores
$15.1M
+47.4%
Auto repair, garage
$10.5M
+2.4%
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
$10,375,000
ML approach
$9,820,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$10,240,000
Current use
COMMERCIAL (GENERAL)
$15,795,000
Change: +54% · Conversion: Difficult
RETAIL STORES
$15,090,000
Change: +47% · Conversion: Moderate
AUTO REPAIR, GARAGE
$10,490,000
Change: +2% · Conversion: Easy
WAREHOUSE, STORAGE
$9,750,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$9.83M
Range $8.84M – $10.81M · ±10% · vs last sale $10.00M (Feb 11 2022)
Last sale anchor
$10.00M
Feb 11 2022
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
$164 / 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
$36,714
Tax year 2021
Assessed value
$6,042,355
Assessed 2022
Previous assessed
$6,042,355
+0.0% YoY
Effective rate
0.61%
On assessed value
Assessed land
$1,102,080
Assessed improvement
$4,940,275
Land market value
$1,102,080
Improvement market value
$4,940,275
Total market value
$6,042,355
Applied tax rate
2,020.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1998
Heating
FORCED AIR
Cooling
YES
Buildings
2
Total area
60,000 SF
Lot
7 ac (304,920 SF)
Zoning code
LII
APN
390206 080124 0000
UPID
US90-1389160
Jurisdiction
WHATCOM
Zoning & alternative use
LII · Ferndale, WA
Zoning LII · permitted uses
LII · 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
INDUSTRIAL (GENERAL) Current
Est. value
$10.2M
COMMERCIAL (GENERAL)
Est. value
$15.8M
RETAIL STORES
Est. value
$15.1M
AUTO REPAIR, GARAGE
Est. value
$10.5M
WAREHOUSE, STORAGE
Est. value
$9.8M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1998
Heating
FORCED AIR
Cooling
Yes
Buildings
2
Lot
7 ac
Current owner
From public records · entity-resolved
Salashan Industrial LLC
Entity
Mailing address
1317 COMMERCIAL ST STE #204, BELLINGHAM, WA 98225-4388
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 11, 2022
$10,000,000
Salashan Industrial LLC
An Holdings Corp
Warranty Deed
$6,000,000 · Peoples Bank
—
—
Martin & Stewart LLC
—
Deed Of Trust
related
$172,500 · 283163 Bc Ltd
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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