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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Commercial land
700 Bakerview Rd Bellingham, WA 98226-9154
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0020866
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Total area
1,696 SF
Lot
1.92 ac (83,592 SF)
Zoning code
PCM2.5
APN
380212 126035 0000
UPID
US90-0020866
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$635k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$748k
Blend (final)
Blend
$585k
Owner & transaction history
H & R Farms INC · 3 yrs held
H & R Farms INC
since 2023
Last sale
$568,000
7 recorded transactions
Zoning & alternative use
PCM2.5 · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$590,000
+16.6%
Medical building
$525,000
+3.6%
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
$615,000
ML approach
$635,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$510,000
Current use
OFFICE BUILDING
$590,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$525,000
Change: +4% · Conversion: Easy
RETAIL STORES
$495,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$585k
Range $527k – $644k · ±10% · vs last sale $568k (Apr 25 2023)
Last sale anchor
$568k
Apr 25 2023
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
$345 / 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
$6,064
Tax year 2024
Assessed value
$779,873
Assessed 2023
Previous assessed
$760,852
+2.5% YoY
Effective rate
0.78%
On assessed value
Assessed land
$779,873
Land market value
$779,873
Total market value
$779,873
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Heating
YES
Bathrooms
1
Total area
1,696 SF
Lot
1.92 ac (83,592 SF)
Zoning code
PCM2.5
APN
380212 126035 0000
UPID
US90-0020866
Jurisdiction
WHATCOM
Zoning & alternative use
PCM2.5 · Bellingham, WA
Zoning PCM2.5 · permitted uses
PCM2.5 · 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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$510,000
OFFICE BUILDING
Est. value
$590,000
MEDICAL BUILDING
Est. value
$525,000
RETAIL STORES
Est. value
$495,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
MEDICAL 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
Heating
YES
Bathrooms
1
Lot
1.92 ac
Current owner
From public records · entity-resolved
H & R Farms INC
Entity
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 25, 2023
—
H & R Farms INC
R & H Farms INC
Quit Claim Deed
related
—
Apr 17, 2012
$568,000
R Farms
Palasade Investments LLC
Warranty Deed
—
Feb 26, 2007
—
Palasade Investments LLC
—
Deed Of Trust
related
$1,100,000 · Whidbey Island Bank
Aug 5, 2004
—
City Of Bellingham
Palasade Investments LLC
Warranty Deed
related
—
Jun 28, 2004
—
Palasade Investments LLC
Lewsader,charles R & V J
Quit Claim Deed
related
—
Jun 28, 2004
$650,000
Charlie Lewsader
Lowe,howard R & Lillian G
Warranty Deed
$500,000 · Howard R & Lillian G Lowe
—
—
Palasade Investments LLC
—
Deed Of Trust
related
$540,000 · Whidbey Island 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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