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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Turn key restaurants
1408 Cornwall Ave, Bellingham, WA 98225-4520
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0136990
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1916
Total area
13,750 SF
Lot
0.16 ac (6,874 SF)
Zoning code
CC
APN
380330 228169 0000
UPID
US90-0136990
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
-
Bellingham Bar and Grill Bar & Pub Restaurant
-
Downtown Temir's Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$490k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$895k
Blend (final)
Blend
$690k
Owner & transaction history
1408 Cornwall LLC · 2 yrs held
1408 Cornwall LLC
since 2023
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
$490,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$690k
Range $621k – $759k · ±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
$50 / 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
$10,795
Tax year 2021
Assessed value
$1,272,281
Assessed 2022
Previous assessed
$1,272,281
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$438,625
Assessed improvement
$833,656
Land market value
$438,625
Improvement market value
$833,656
Total market value
$1,272,281
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1916
Heating
HEAT PUMP
Cooling
YES
Total area
13,750 SF
Lot
0.16 ac (6,874 SF)
Zoning code
CC
APN
380330 228169 0000
UPID
US90-0136990
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
1916
Heating
HEAT PUMP
Cooling
Yes
Lot
0.16 ac
Current owner
From public records · entity-resolved
1408 Cornwall LLC
Entity
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 4, 2024
—
1408 Cornwall LLC
—
Deed
related
$615,000 · Whatcom Educational Cu
Oct 26, 2023
—
1408 Cornwall LLC
John E Tsimouris
Quit Claim Deed
related
—
Jul 22, 2019
—
John E Tsimouris
—
Deed
related
$685,000 · Columbia St Bk
Mar 11, 2005
—
John Tsimouris
Tsimouris,vasiliki
Quit Claim Deed
related
—
Jan 8, 1999
$390,000
John Tsimouris
Tsimouris,konstantinos E
Grant Deed
related
$320,000 · Horizon Bank
—
—
John E Tsimouris
—
Deed Of Trust
related
$685,000 · Columbia St Bk
—
—
John Tsimouris
—
Deed Of Trust
related
$650,000 · Greenpoint Mortgage Funding
—
—
John Tsimouris
—
Deed Of Trust
related
$762,584 · Whidbey Island Bank
—
—
John E Tsimouris
—
Deed Of Trust
related
$580,000 · Olympic Coast Investment INC
—
—
John E Tsimouris
—
Deed Of Trust
related
$61,200 · Lynn Giuliani
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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