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Property profile & analytics
OFF-MARKET
Estimated value
$730,000
Retail properties & Spaces
820 State St Bellingham, WA 98225-5019
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-1764512
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1949
Total area
9,175 SF
Lot
0.63 ac (27,360 SF)
Zoning code
PC
APN
380331 050462 0000
UPID
US90-1764512
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
-
State Street Creamery Complex Condominium Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$460k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$998k
Blend (final)
Blend
$730k
Owner & transaction history
State Street Creamery LLC · 9 yrs held
State Street Creamery LLC
since 2017
7 recorded transactions
Zoning & alternative use
PC · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.1M
+33.1%
Auto repair, garage
$1.1M
+21.8%
Commercial (general)
$1.0M
+19.4%
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 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
by Request
ML approach
$460,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$860,000
Current use
RESTAURANT
$1,145,000
Change: +33% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,050,000
Change: +22% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,030,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$730k
Range $657k – $803k · ±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
$80 / 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
$11,871
Tax year 2021
Assessed value
$1,399,214
Assessed 2022
Previous assessed
$1,399,214
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$1,110,816
Assessed improvement
$288,398
Land market value
$1,110,816
Improvement market value
$288,398
Total market value
$1,399,214
Applied tax rate
109.0000
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
1949
Heating
FORCED AIR
Cooling
AC.FAN COOLING
Total area
9,175 SF
Lot
0.63 ac (27,360 SF)
Zoning code
PC
APN
380331 050462 0000
UPID
US90-1764512
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.
Alternative use value scenarios
Repositioning upside vs current use
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$860,000
RESTAURANT
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.0M
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1949
Heating
FORCED AIR
Cooling
Yes
Lot
0.63 ac
Current owner
From public records · entity-resolved
State Street Creamery LLC
Entity
Mailing address
103 N TOWNSHIP ST, SEDRO WOOLLEY, WA 98284-1243
Ownership since
2017
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
Sep 29, 2023
—
State Street Creamery LLC
—
Deed
related
$2,478,500 · Whatcom Educational Cu
Apr 6, 2018
—
State Street Creamery LLC
—
Deed
related
$2,000,000 · United Funeral Directors Benef
May 2, 2017
—
State Street Creamery LLC
—
Deed
related
$4,000,000 · Pbrelf I LLC Pbrelf I LLC
Apr 19, 2017
$1,690,000
State Street Creamery LLC
Medcalf Family LLC
Warranty Deed
related
$845,000 · Medcalf Family LLC
—
—
Mersey LLC
—
Loan Modification
related
$9,200,000 · Romspen Mtg
—
—
State Street Creamery LLC
—
Deed Of Trust
related
$4,000,000 · Pbrelf I LLC Pbrelf I LLC
—
—
State Street Creamery LLC
—
Deed Of Trust
related
$2,000,000 · United Funeral Directors Benef
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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