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Property profile & analytics
OFF-MARKET
Estimated value
$1,110,000
Medical Office Space
911 Frst St Bellingham, WA 98225-5507
Entity Owned
3-yr Hold
Property ID
US90-1549481
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1904
Total area
2,490 SF
Lot
0.46 ac (19,998 SF)
Zoning code
RM 1.0
APN
380331 097493 0000
UPID
US90-1549481
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
-
Hoofnagle Dennis L DDS Dental Office
-
Nichols Family Dental Dental Office
-
William Nichols Dental Office
-
Dr. Brittany Nichols Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$874k
Blend (final)
Blend
$1.11M
Owner & transaction history
North Forest Properties LLC · 3 yrs held
North Forest Properties LLC
since 2023
Last sale
$1.1M
1 recorded transaction
Zoning & alternative use
RM 1.0 · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$855,000
+10.7%
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
$1,235,000
ML approach
$1,245,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$770,000
Current use
OFFICE BUILDING
$855,000
Change: +11% · Conversion: Easy
RETAIL STORES
$730,000
Change: -5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$690,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$1.11M
Range $999k – $1.22M · ±10% · vs last sale $1.10M (Apr 7 2023)
Last sale anchor
$1.10M
Apr 7 2023
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
$446 / 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
$6,681
Tax year 2021
Assessed value
$773,881
Assessed 2022
Previous assessed
$773,881
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$570,000
Assessed improvement
$203,881
Land market value
$570,000
Improvement market value
$203,881
Total market value
$773,881
Applied tax rate
100.0000
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
1904
Heating
HOT WATER
Stories
2
Total area
2,490 SF
Lot
0.46 ac (19,998 SF)
Zoning code
RM 1.0
APN
380331 097493 0000
UPID
US90-1549481
Jurisdiction
WHATCOM
Zoning & alternative use
RM 1.0 · Bellingham, WA
Zoning RM 1.0 · permitted uses
RM 1.0 · 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
MEDICAL BUILDING Current
Est. value
$770,000
OFFICE BUILDING
Est. value
$855,000
RETAIL STORES
Est. value
$730,000
COMMERCIAL (GENERAL)
Est. value
$690,000
MEDICAL BUILDING Current
OFFICE BUILDING
RETAIL STORES
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
1904
Heating
HOT WATER
Stories
2
Lot
0.46 ac
Current owner
From public records · entity-resolved
North Forest Properties LLC
Entity
Mailing address
911 N FRST ST, BELLINGHAM, WA 98225-5507
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2023
$1,100,000
North Forest Properties LLC
Dennis L Hoofnagle
Warranty Deed
$880,000 · Umpqua 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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