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Property profile & analytics
FOR LEASE
Strip malls
902 North State St Bellingham, WA 98225
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US90-1168232
For Lease
1 / 3
$26 SF/Yr
902 North State St, Bellingham, WA 98225
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1954
Total area
11,808 SF
Lot
0.53 ac (22,873 SF)
Zoning code
CCM
APN
380331 073483 0000
UPID
US90-1168232
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
-
Ambo Ethiopian Cuisine Restaurant
-
Sugar It Hair Salon Nail Salon
-
Jayna M. Williams-Coluccio, AUD Physician
-
Connect Family Chiropractic Alternative Medicine Practice
-
UPS Access Point location Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$545k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$544k
Blend (final)
Blend
$545k
Owner & transaction history
Shamrock Properties LLC · 22 yrs held
Shamrock Properties LLC
since 2004
7 recorded transactions
Zoning & alternative use
CCM · 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
by Request
ML approach
$545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$455,000
Current use
Blend value · Realmo final
$545k
Range $491k – $600k · ±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
$46 / 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
$19,797
Tax year 2021
Assessed value
$2,433,978
Assessed 2022
Previous assessed
$2,433,978
+0.0% YoY
Effective rate
0.81%
On assessed value
Assessed land
$1,051,793
Assessed improvement
$1,382,185
Land market value
$1,051,793
Improvement market value
$1,382,185
Total market value
$2,433,978
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1954
Heating
NONE
Cooling
YES
Total area
11,808 SF
Lot
0.53 ac (22,873 SF)
Zoning code
CCM
APN
380331 073483 0000
UPID
US90-1168232
Jurisdiction
WHATCOM
Zoning & alternative use
CCM · Bellingham, WA
Zoning CCM · permitted uses
CCM · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$455,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
1954
Heating
NONE
Cooling
Yes
Lot
0.53 ac
Current owner
From public records · entity-resolved
Shamrock Properties LLC
Entity
Mailing address
3130 HOWE PL, BELLINGHAM, WA 98226-5641
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2022
—
Shamrock Properties LLC
—
Deed
related
$2,600,000 · Anumerica Cu
Oct 21, 2019
—
Shamrock Properties LLC
—
Deed
related
$2,250,000 · North Coast Cu
Oct 9, 2019
—
Shamrock Properties LLC
—
Deed
related
$314,905 · Heritage Bk
Jan 12, 2017
—
Shamrock Properties LLC
—
Deed
related
$529,000 · Heritage Bk
Jan 11, 2017
—
Shamrock Propreties LLC
—
Deed
related
$53,222 · North Coast Cu
Jun 23, 2004
$795,000
Shamrock Properties LLC
Vineyard Christian Fellowship
Warranty Deed
$887,000 · Whidbey Island Bank
Apr 17, 2001
$843,464
Vineyard Christian Fellowship
Leopard Bow LLC
Grant Deed
—
May 20, 1999
$465,360
Leopard Bow LLC
Syre,david R & Kay E
Grant Deed
—
—
—
Shamrock Properties LLC
—
Deed Of Trust
related
$325,000 · North Coast Cu
—
—
Shamrock Properties LLC
—
Deed Of Trust
related
$314,905 · Heritage Bk
—
—
Shamrock Properties LLC
—
Deed Of Trust
related
$2,250,000 · North Coast Cu
—
—
Shamrock Propreties LLC
—
Deed Of Trust
related
$53,222 · North Coast Cu
—
—
Shamrock Properties LLC
—
Deed Of Trust
related
$529,000 · Heritage Bk
—
—
Shamrock Properties LLC
—
Deed Of Trust
related
$1,515,000 · Frontier Bank
—
—
Shamrock Properties LLC
—
Deed Of Trust
related
$49,000 · North Coast Cu
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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