Entity Owned 
For Lease
Contact for pricing
701 W Holly St, Bellingham, WA 98225
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Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1940
Total area
1,470 SF
Lot
0.08 ac (3,485 SF)
Zoning code
CT1
APN
380331 365550 0000
UPID
US90-0350506
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Restaurant
-
Physician
-
Physician
-
Medical Clinic Alternative Medicine Practice
-
Medical Clinic Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$645k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$663k
Blend (final)
Blend
$630k
Owner & transaction history
since 2025
Last sale
$555,000
5 recorded transactions
Zoning & alternative use
CT1 · Bellingham, WA
Top alternative use upside
Office building
$505,000
+23.5%
Medical building
$455,000
+11.6%
Retail stores
$430,000
+5.5%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 14 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$630k
Value range
$567k – $693k
±10% around blend
Estimated value / SF
$429 / SF
Confidence
High
14 county-verified comps
Property data
75
Market benchmarks
100
Comparable evidence
100
Income certainty
100
$567k
blend $630k
$693k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
1,470 SF
Lot area
0.08 ac
Year built
1940
APN
380331 365550 0000
Assessed value
$512,420
Annual tax
$3,984
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$3,984
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$716k
Weighted, 14 comps · high confidence
Evidence
14 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.0 mi away · 1,180 SF
2.1 mi away · 1,120 SF
2.8 mi away · 1,716 SF
2.8 mi away · 1,719 SF
3.0 mi away · 1,592 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$630k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 67 sales
$278
+54%
Submarket 193 sales
$298
+44%
County 353 sales
$279
+54%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $429/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+24%
vs current-use indication
Medical Building
Retail Stores
Commercial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 14 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
3.00%
Selected cap rate for this investment properties
Derived from the Bellingham market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.00%
9.0%
NOI (est.)
$48k *
Last sale · Mar 2021
$555k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.61M
Move the market yield to see immediate price impact.
Value / SF
$1,094
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.50%3.00%3.50%
$43k
$1.74M
$1.45M
$1.24M
$48k
$1.93M
$1.61M
$1.38M
$53k
$2.12M
$1.77M
$1.52M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
14 found
High confidence · county-verified
Closest comparable
$200k
1.3 mi · Feb 2026 · $147/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$3,984
Tax year 2024
Assessed value
$512,420
Assessed 2023
Previous assessed
$461,640
+11.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$264,519
Assessed improvement
$247,901
Land market value
$264,519
Improvement market value
$247,901
Total market value
$512,420
Applied tax rate
100.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
For Lease
Year built
1940
Heating
NONE
Cooling
YES
Total area
1,470 SF
Lot
0.08 ac (3,485 SF)
Zoning code
CT1
APN
380331 365550 0000
UPID
US90-0350506
Jurisdiction
WHATCOM
Zoning & alternative use
CT1 · Bellingham, WAZoning CT1 · permitted uses
CT1 · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1940
Heating
NONE
Cooling
Yes
Lot
0.08 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CT1
Jurisdiction
Bellingham, WA
Recorded code
CT1
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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