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    1501 Cornwall Ave Bellingham, WA 98225

    Sponsored
    For Sale
    $2,199,000

    Class A Retail Bank, 8,640 SF

    Property size:
    8,640 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Class A retail bank building in downtown Bellingham, WA, presents a unique investment or user opportunity. Located at 1501 Cornwall Ave, this 8,640 square foot, two-story building sits on a 0.34-acre lot and boasts 16 on-site parking spaces. Built in 1972 and extensively renovated in 2017, the property offers a fully functional drive-thru, making it ideal for a bank, insurance agency, or general office. The building features a 4,800 square foot upper level and a 4,800 square foot built-out lower level, with ample power. Zoning allows for expansion, with no setbacks, parking, or height restrictions. Priced at $2,199,000 ($295.14/sq ft), this property is significantly below current replacement cost. Its prime location in the Opportunity Zone, near four major banks, adds to its considerable potential. The 100% occupancy rate ensures immediate cash flow. This is a rare opportunity to acquire a fully operational, high-quality building in a thriving downtown area. APN: 75284.

    Property Features for 1501 Cornwall Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,640 SF
    Class
    A
    Lot Size
    14,810 SF

    Building Details

    Year Built/Renovated
    1972/2017
    Buildings
    1
    Stories
    2

    HighLights

    • $2,199,000 asking price for this 8,640 square foot retail building.
    • Class A, single‑tenant retail property located in downtown Bellingham, WA.
    • 100% occupied, with a $295.14 per square foot price.
    • Built in 1972 and renovated in 2017, featuring two stories in a single building on a 0.34‑acre lot.
    • 16 parking spaces and a functional drive‑thru.
    • Located in the Opportunity Zone, with zoning allowing for expansion.
    Property Profile Location Intelligence

    Current Use by Public Records

    Unity Circle Park M.D. Labs & Wellness ... Medical Spa

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Wholesale Shop Auto Repair Shop Spa & Massage Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bellingham
    County
    Whatcom
    State
    Washington
    Longitude
    -122.4762097
    Latitude
    48.7521034

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    FAQs

    What type of property is this?
    Individual retail property - Class A Retail Bank, 8,640 SF
    Where is this individual retail property located?
    The property is located at 1501 Cornwall Ave Bellingham, WA.
    What is the asking price?
    The asking price for this property is $2,199,000.
    What are key features of this property?
    This property features: $2,199,000 asking price for this 8,640 square foot retail building.; Class A, single-tenant retail property located in downtown Bellingham, WA.; 100% occupied, with a $295.14 per square foot price.
    Request Owner's contact information
    1501 Cornwall Ave Bellingham, WA 98225
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    Bellingham, WA 98225
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1501 Cornwall Ave Bellingham, WA 98225
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