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Property profile & analytics
OFF-MARKET
Estimated value
$1,835,000
Investment properties
1201 Cornwall Ave, Bellingham, WA 98225-5099
Individually Owned
12-yr Hold
~
Est. High Equity
Property ID
US90-0351606
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1978
Total area
14,843 SF
Lot
0.21 ac (8,999 SF)
Zoning code
CC
APN
380330 130105 0000
UPID
US90-0351606
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
-
APANA® Water Works Equipment Supplier
-
Zion Builders, LLC General Contractor Renovation Specialist
-
Poodle Creek Pet Grooming Service
-
PhotoSynthesis Photography Service (Bike/Boat/Book/etc) Store
-
Sharp Tack Dry Goods Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.13M
Blend (final)
Blend
$1.84M
Owner & transaction history
Riaz Monjazeb · 12 yrs held
Riaz Monjazeb
since 2014
7 recorded transactions
Zoning & alternative use
CC · 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.84M
Range $1.65M – $2.02M · ±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
$124 / 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
$15,928
Tax year 2021
Assessed value
$1,845,010
Assessed 2022
Previous assessed
$1,845,010
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$615,600
Assessed improvement
$1,229,410
Land market value
$615,600
Improvement market value
$1,229,410
Total market value
$1,845,010
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1978
Heating
NONE
Cooling
YES
Total area
14,843 SF
Lot
0.21 ac (8,999 SF)
Zoning code
CC
APN
380330 130105 0000
UPID
US90-0351606
Jurisdiction
WHATCOM
Zoning & alternative use
CC · Bellingham, WA
Zoning CC · permitted uses
CC · 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.
Building & site characteristics
From public records
Year built
1978
Heating
NONE
Cooling
Yes
Lot
0.21 ac
Current owner
From public records · entity-resolved
Riaz Monjazeb
Individual
Mailing address
14019 240TH ST NE, ARLINGTON, WA 98223-6810
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2014
—
Riaz Monjazeb
Monjazeb,laura
Quit Claim Deed
related
$850,000 · Bellingham Fcg Properties LLC
Mar 31, 2014
$1,290,000
Monjazeb,mahin Living Trust
Bellingham Fcg Properties LLC
Warranty Deed
—
Feb 7, 2012
—
Bellingham Fcg Properties LLC
Frontier Capital Group Ltd
Quit Claim Deed
related
—
Jan 17, 2012
—
Frontier Capital Group Ltd
Rellim LLC
Quit Claim Deed
related
—
Aug 22, 2006
$1,940,000
Rellim LLC
Flax Properties LLC
Warranty Deed
$2,100,000 · Jim Takisaki INC
Oct 19, 2004
—
Flax Properties LLC
Flax Harvey L & J J Trust
Quit Claim Deed
related
—
Jan 22, 2003
$1,767,203
Harvey
Cornwall Brothers LLC
Grant Deed
$210,000 · Cornwall Brothers LLC
May 20, 1998
$628,235
Cornwall Brothers LLC
Piha,morris & Marlene
Grant Deed
$324,000 · Arcade Building Loan
—
—
Mt Baker Professional Building
—
Deed Of Trust
related
$450,000 · Commerce Bank Of Washington
—
—
Rellim LLC
—
Deed Of Trust
related
$1,245,000 · Union Bank Of California
—
—
Cornwall Brothers LLC
—
Deed Of Trust
related
$1,000,000 · Whatcom State 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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