Individually Owned 
For Sale
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1315 Cornwall Ave, Bellingham, WA 98225
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Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1930
Total area
13,750 SF
Lot
0.16 ac (6,874 SF)
Zoning code
CC
APN
380330 181148 0000
UPID
US90-0132190
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
(Bike/Boat/Book/etc) Store Corporate Office
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.32M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.58M
Blend (final)
Blend
$6.14M
Owner & transaction history
since 2021
Last sale
$5.4M
7 recorded transactions
Zoning & alternative use
CC · Bellingham, WA
Top alternative use upside
Restaurant
$5.4M
+14.3%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$6.14M
Value range
$5.52M – $6.75M
±10% around blend
Estimated value / SF
$446 / SF
Confidence
Property data
88
Market benchmarks
100
Comparable evidence
60
Income certainty
100
$5.52M
blend $6.14M
$6.75M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
13,750 SF
Lot area
0.16 ac
Year built
1930
APN
380330 181148 0000
Zoning
CC
Assessed value
$4,573,172
Annual tax
$32,193
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$32,193
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$6.58M
Range $3.46M – $6.58M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$6.14M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 48 sales
$343
+30%
Submarket 66 sales
$349
+28%
County 109 sales
$291
+53%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $446/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+14%
vs current-use indication
Office Building · current use
Medical Building
Retail Stores
Commercial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
3.30%
Selected cap rate for this office buildings
Derived from the Bellingham market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.30%
9.0%
NOI (est.)
$338k *
Last sale · Mar 2021
$5.40M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$10.25M
Move the market yield to see immediate price impact.
Value / SF
$745
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.80%3.30%3.80%
$304k
$10.87M
$9.22M
$8.01M
$338k
$12.08M
$10.25M
$8.90M
$372k
$13.28M
$11.27M
$9.79M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Tax billed
$32,193
Tax year 2021
Assessed value
$4,573,172
Assessed 2022
Previous assessed
$4,573,172
+0.0% YoY
Effective rate
0.70%
On assessed value
Assessed land
$470,250
Assessed improvement
$4,102,922
Land market value
$470,250
Improvement market value
$4,102,922
Total market value
$4,573,172
Applied tax rate
100.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Sale
Year built
1930
Heating
NONE
Cooling
YES
Total area
13,750 SF
Lot
0.16 ac (6,874 SF)
Zoning code
CC
APN
380330 181148 0000
UPID
US90-0132190
Jurisdiction
WHATCOM
Zoning & alternative use
CC · Bellingham, WAZoning CC · permitted uses
CC · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1930
Heating
NONE
Cooling
Yes
Lot
0.16 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CC
Jurisdiction
Bellingham, WA
Recorded code
CC
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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