New search
Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Individual retail properties
928 Thomas Rd, Bellingham, WA 98226-9044
Entity Owned
8-yr Hold
Free & Clear
Property ID
US90-0931825
Property profile
Verified
Property type
Individual retail properties
Use group
GARDEN CENTER, HOME IMPROVEMENT
Year built
1982
Total area
11,324 SF
Lot
18.98 ac (826,638 SF)
Zoning code
LII
APN
380203 500077 0000
UPID
US90-0931825
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
-
Mt Baker Roofing Roofing Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$490k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$661k
Blend (final)
Blend
$575k
Owner & transaction history
Ddj Investments LLC · 8 yrs held
Ddj Investments LLC
since 2018
2 recorded transactions
Zoning & alternative use
LII · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$945,000
+88.1%
Medical building
$925,000
+84.0%
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
$490,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
GARDEN CENTER, HOME IMPROVEMENT (DO-IT-YOURSELF)
$500,000
Current use
AUTO REPAIR, GARAGE
$945,000
Change: +88% · Conversion: Difficult
MEDICAL BUILDING
$925,000
Change: +84% · Conversion: Difficult
Blend value · Realmo final
$575k
Range $518k – $633k · ±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
$51 / 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
$7,404
Tax year 2021
Assessed value
$1,656,605
Assessed 2022
Previous assessed
$1,656,605
+0.0% YoY
Effective rate
0.45%
On assessed value
Assessed land
$824,591
Assessed improvement
$832,014
Land market value
$824,591
Improvement market value
$832,014
Total market value
$1,656,605
Applied tax rate
2,060.0000
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
Individual retail properties
Use group
GARDEN CENTER, HOME IMPROVEMENT
Status
Off-Market
Year built
1982
Heating
OTHER
Buildings
2
Bathrooms
3
Total area
11,324 SF
Lot
18.98 ac (826,638 SF)
Zoning code
LII
APN
380203 500077 0000
UPID
US90-0931825
Jurisdiction
WHATCOM
Zoning & alternative use
LII · Bellingham, WA
Zoning LII · permitted uses
LII · 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
GARDEN CENTER, HOME IMPROVEMENT (DO-IT-YOURSELF) Current
Est. value
$500,000
AUTO REPAIR, GARAGE
Est. value
$945,000
MEDICAL BUILDING
Est. value
$925,000
GARDEN CENTER, HOME IMPROVEMENT (DO-IT-YOURSELF) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1982
Heating
OTHER
Buildings
2
Bathrooms
3
Lot
18.98 ac
Current owner
From public records · entity-resolved
Ddj Investments LLC
Entity
Free & Clear · 8 yrs held
Mailing address
3945 HOME RD, BELLINGHAM, WA 98226-9147
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2018
$909,970
Ddj Investments LLC
Olivine Corp
Grant Deed
—
—
—
Olivine Corp
—
Deed Of Trust
related
$700,000 · Us 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 928 Thomas Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
