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Property profile & analytics
OFF-MARKET
Estimated value
$3,875,000
Warehouses
7056 Portal Way, Ferndale, WA 98248-8310
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1501906
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1993
Total area
69,800 SF
Lot
7 ac (304,920 SF)
Zoning code
LII
APN
390206 178212 0000
UPID
US90-1501906
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
-
Orca Book Publishers (Bike/Boat/Book/etc) Store
-
Alaska General Seafood Specialty Food Shop Fish Market
-
Air Truck Freight Systems Freight Service Logistics Company
-
Blue Heron Enterprises (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom
-
Roadhouse Ministries Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.78M
Blend (final)
Blend
$3.88M
Owner & transaction history
Harbor Lands LP · 10 yrs held
Harbor Lands LP
since 2016
7 recorded transactions
Zoning & alternative use
LII · Ferndale, 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 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.88M
Range $3.49M – $4.26M · ±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
$56 / 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
$21,817
Tax year 2021
Assessed value
$2,776,379
Assessed 2022
Previous assessed
$2,776,379
+0.0% YoY
Effective rate
0.79%
On assessed value
Assessed land
$701,324
Assessed improvement
$2,075,055
Land market value
$701,324
Improvement market value
$2,075,055
Total market value
$2,776,379
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1993
Heating
NONE
Cooling
YES
Buildings
3
Total area
69,800 SF
Lot
7 ac (304,920 SF)
Zoning code
LII
APN
390206 178212 0000
UPID
US90-1501906
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.
Building & site characteristics
From public records
Year built
1993
Heating
NONE
Cooling
Yes
Buildings
3
Lot
7 ac
Current owner
From public records · entity-resolved
Harbor Lands LP
Entity
Mailing address
405 FIELDSTON RD, BELLINGHAM, WA 98225-7864
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
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
Jun 10, 2016
—
Harbor Lands LP
—
Deed
related
$2,000,000 · Heritage Bk
Mar 19, 1997
—
Harbor Lands LP
—
Deed Of Trust
related
$2,500,000 · First Mutual Savings Bank
—
—
Harbor Lands LP
—
Deed Of Trust
related
$4,025,000 · Whatcom Educational Cu
—
—
Lands Harbor
—
Deed Of Trust
related
$3,750,000 · Skagit State Bank
—
—
Harbor Lands LP
—
Deed Of Trust
related
$2,000,000 · Heritage Bk
—
—
Harbor Lands LP
—
Deed Of Trust
related
$3,890,000 · Heritage Bk
—
—
Lands Harbor
—
Deed Of Trust
related
$600,000 · First Mutual 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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