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Property profile & analytics
OFF-MARKET
Estimated value
$1,145,000
Office Spaces
1319 Cornwall Ave Ste 200, Bellingham, WA 98225-4733
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0660841
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1904
Total area
6,875 SF
Zoning code
CC
APN
380330 186153 0002
UPID
US90-0660841
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.15M
CAP Approach
CAP
$1.58M
Comparable Approach
Comparable
$698k
Blend (final)
Blend
$1.15M
Owner & transaction history
Varnau Aiken Ventures LLC · 1 yrs held
Varnau Aiken Ventures LLC
since 2024
Last sale
$1.1M
2 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
$1,145,000
ML approach
$1,145,000
CAP Approach
CAP Return
Estimation
6%
$1,710,000
6.5%
$1,580,000
7%
$1,465,000
Blend value · Realmo final
$1.15M
Range $1.03M – $1.26M · ±10% · vs last sale $1.15M (Oct 15 2024)
Last sale anchor
$1.15M
Oct 15 2024
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
$167 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$5,659
Tax year 2024
Assessed value
$727,885
Assessed 2023
Previous assessed
$655,753
+11.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$282,738
Assessed improvement
$445,147
Land market value
$282,738
Improvement market value
$445,147
Total market value
$727,885
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1904
Heating
NONE
Cooling
YES
Total area
6,875 SF
Zoning code
CC
APN
380330 186153 0002
UPID
US90-0660841
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
1904
Heating
NONE
Cooling
Yes
Current owner
From public records · entity-resolved
Varnau Aiken Ventures LLC
Entity
Mailing address
436 16TH ST STE #100, BELLINGHAM, WA 98225-6313
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Oct 15, 2024
$1,145,000
Varnau Aiken Ventures LLC
Community Sanctuary LLC
Warranty Deed
$829,000 · Whatcom Educational Cu
Jan 5, 2016
$525,000
Community Sanctuary LLC
Baron,gerald R & Lynne C
Warranty Deed
$425,000 · Gerald R & Lynne C Baron
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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