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Property profile & analytics
FOR SALE
Office buildings
1315 Cornwall Ave, Bellingham, WA 98225
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0132190
For Sale
1 / 7
$4,750,000
1315 Cornwall Ave, Bellingham, WA 98225
View Listing →
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dealer Information Systems Corporation (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.32M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.58M
Blend (final)
Blend
$5.67M
Owner & transaction history
Bruce Wachtler · 5 yrs held
Bruce Wachtler
since 2021
Last sale
$5.4M
7 recorded transactions
Zoning & alternative use
CC · Bellingham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.4M
+14.3%
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
$6,135,000
ML approach
$6,320,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,720,000
Current use
RESTAURANT
$5,395,000
Change: +14% · Conversion: Moderate
MEDICAL BUILDING
$4,265,000
Change: -10% · Conversion: Easy
RETAIL STORES
$4,035,000
Change: -15% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,820,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$5.67M
Range $5.10M – $6.24M · ±10% · vs last sale $5.40M (Mar 2 2021)
Last sale anchor
$5.40M
Mar 2 2021
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
$412 / 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
$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
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
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, 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.7M
RESTAURANT
Est. value
$5.4M
MEDICAL BUILDING
Est. value
$4.3M
RETAIL STORES
Est. value
$4.0M
COMMERCIAL (GENERAL)
Est. value
$3.8M
OFFICE BUILDING Current
RESTAURANT
MEDICAL 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
1930
Heating
NONE
Cooling
Yes
Lot
0.16 ac
Current owner
From public records · entity-resolved
Bruce Wachtler
Individual
Mailing address
1315 CORNWALL AVE, BELLINGHAM, WA 98225-4716
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2021
$5,400,000
Bruce Wachtler
Five Star Development LLP
Warranty Deed
$405,000 · Spokane Teachers Cu
Jul 16, 1999
—
Five Star Legacy LLC
—
Grant Deed
related
$1,200,800 · Whatcom State Bank
Jun 1, 1999
$525,000
Five Star Legacy LLC
Bellingham Renaissance I LLC
Grant Deed
—
Nov 25, 1997
—
Bellongham Renaissance I LLC
Tolchin,douglas
Quit Claim Deed
related
—
Apr 8, 1996
$350,000
Douglas Tolchin
Cornwall Associates LP
Grant Deed
$260,000 · Seller
—
—
Five Star Dev LLP
—
Deed Of Trust
related
$2,800,000 · Frontier Bank
—
—
Bellingham Renaissance I LLC
—
Deed Of Trust
related
$390,000 · B&p Investments
—
—
Five Star Development LLP
—
Deed Of Trust
related
$2,028,000 · Banner Bank
—
—
Five Star Legacy LLC
—
Deed Of Trust
related
$1,760,000 · 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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