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Property profile & analytics
OFF-MARKET
Estimated value
$2,040,000
Strip malls
800 Lakeway Dr Bellingham, WA 98229-6219
Entity Owned
5-yr Hold
Free & Clear
Property ID
US90-1360751
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1974
Total area
158,024 SF
Lot
13.85 ac (603,175 SF)
Zoning code
PC
APN
380332 008461 0000
UPID
US90-1360751
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
-
KeyMe Locksmiths Locksmith (Bike/Boat/Book/etc) Store
-
Fred Meyer Grocery & Convenience Store Food Market
-
EcoATM Cell Phone Store Recycling Center
-
MoneyGram Bank Credit Union
-
Fred Meyer Fuel Center Gas Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.74M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.04M
Owner & transaction history
Fm Bellingham F LLC · 5 yrs held
Fm Bellingham F LLC
since 2021
Last sale
$1.7M
5 recorded transactions
Zoning & alternative use
PC · 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
$2,030,000
ML approach
$2,740,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.04M
Range $1.84M – $2.24M · ±10% · vs last sale $1.69M (May 11 2021)
Last sale anchor
$1.69M
May 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
$13 / 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
$209,742
Tax year 2021
Assessed value
$22,275,944
Assessed 2022
Previous assessed
$22,275,944
+0.0% YoY
Effective rate
0.94%
On assessed value
Assessed land
$10,845,140
Assessed improvement
$11,430,804
Land market value
$10,845,140
Improvement market value
$11,430,804
Total market value
$22,275,944
Applied tax rate
100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1974
Heating
YES
Cooling
YES
Buildings
2
Total area
158,024 SF
Lot
13.85 ac (603,175 SF)
Zoning code
PC
APN
380332 008461 0000
UPID
US90-1360751
Jurisdiction
WHATCOM
Zoning & alternative use
PC · Bellingham, WA
Zoning PC · permitted uses
PC · 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
1974
Heating
YES
Cooling
Yes
Buildings
2
Lot
13.85 ac
Current owner
From public records · entity-resolved
Fm Bellingham F LLC
Entity
Free & Clear · 5 yrs held
Mailing address
7978 COOPER CRK BLVD, UNIVERSITY PARK, FL 34201-2139
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 8, 2021
—
Fm Bellingham Lh C
—
Deed
related
$21,605,308 · Cga Mortgage Capital LLC
May 11, 2021
—
Fm Bellingham F LLC
Fm Bellingham Lh LLC
Lease
—
May 11, 2021
$15,240,657
Fm Bellingham Lh LLC
Metropolitan Life Insurance Company
Bargain And Sale Deed
—
May 11, 2021
$1,693,407
Fm Bellingham F LLC
Metropolitan Life Insurance Company
Bargain And Sale Deed
—
Apr 9, 2004
—
Bellingham City (wa)
Fred Meyer Stores INC
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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