Entity Owned 
For Lease
1 / 110
$16 SF/Yr
1414 Cornwall Ave, Bellingham, WA 98225
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Property summary
AI-generated overview
This exceptional 2,911 square foot restaurant/retail space is available for lease in the heart of Bellingham, WA. Located at 1414 Cornwall Ave (cross street: E Magnolia), this single-tenancy unit is situated within a beautifully renovated, two-story, 20,120 square foot building (built in 1912, renovated in 2022) in the city's vibrant CBD, zoned accordingly. The property boasts a prime location with exceptionally high foot traffic, benefiting from its proximity to established businesses like Bellingham AXE and Evergreen Beauty College, ensuring a steady stream of customers throughout the day and into the evening. The open layout provides ample space for creative design and flexible use, making it ideal for a variety of concepts, from restaurants and bars to experiential businesses. Significant cost savings are available due to recently upgraded infrastructure and lower tax valuations extending through 2032. One elevator is available in the building. The property features a spacious layout and is ready for immediate occupancy. This is a rare opportunity to establish a thriving business in a highly desirable location. The APN is 3803302311730000. Contact us to schedule a viewing and explore the possibilities.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1912
Total area
13,750 SF
Lot
0.16 ac (6,874 SF)
Zoning code
CC
APN
380330 231173 0000
UPID
US90-1386026
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hotel & Motel Resort
-
Auto Repair Shop Vehicle Inspection Center
-
Vocational School Training Center
-
Tour Operator
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$360k
Owner & transaction history
since 2018
7 recorded transactions
Zoning & alternative use
CC · Bellingham, WA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 3 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$360k
Value range
$324k – $396k
±10% around blend
Estimated value / SF
$26 / SF
Confidence
Low
3 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
30
Income certainty
100
$324k
blend $360k
$396k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
13,750 SF
Lot area
0.16 ac
Year built
1912
APN
380330 231173 0000
Zoning
CC
Assessed value
$276,631
Annual tax
$5,801
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$5,801
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.30M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
21.5 mi away · 14,868 SF
24.7 mi away · 13,247 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$360k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 67 sales
$278
-91%
Submarket 193 sales
$298
-91%
County 353 sales
$279
-91%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $26/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$496k
Move the market yield to see immediate price impact.
Value / SF
$36
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$31k
$625k
$447k
$347k
$35k
$695k
$496k
$386k
$38k
$764k
$546k
$425k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$900k
0.1 mi · Jan 2026 · $82/SF
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Tax billed
$5,801
Tax year 2021
Assessed value
$276,631
Assessed 2022
Previous assessed
$276,631
+0.0% YoY
Effective rate
2.10%
On assessed value
Assessed land
$276,631
Land market value
$276,631
Total market value
$276,631
Applied tax rate
100.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
1912
Heating
HOT WATER
Total area
13,750 SF
Lot
0.16 ac (6,874 SF)
Zoning code
CC
APN
380330 231173 0000
UPID
US90-1386026
Jurisdiction
WHATCOM
Zoning & alternative use
CC · Bellingham, WAZoning CC · permitted uses
CC · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1912
Heating
HOT WATER
Lot
0.16 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CC
Jurisdiction
Bellingham, WA
Recorded code
CC
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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