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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Turn key restaurants
1426 Cornwall Ave, Bellingham, WA 98225-4520
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-3133313
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1929
Total area
5,466 SF
Lot
0.21 ac (9,252 SF)
Zoning code
CC
APN
380330 241182 0000
UPID
US90-3133313
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
$390k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$668k
Blend (final)
Blend
$530k
Owner & transaction history
Gracellis Properties LLC · 8 yrs held
Gracellis Properties LLC
since 2018
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
$390,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$97 / 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
$11,484
Tax year 2021
Assessed value
$1,353,594
Assessed 2022
Previous assessed
$1,353,594
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$536,500
Assessed improvement
$817,094
Land market value
$536,500
Improvement market value
$817,094
Total market value
$1,353,594
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
1929
Heating
SPACE
Cooling
YES
Total area
5,466 SF
Lot
0.21 ac (9,252 SF)
Zoning code
CC
APN
380330 241182 0000
UPID
US90-3133313
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
1929
Heating
SPACE
Cooling
Yes
Lot
0.21 ac
Current owner
From public records · entity-resolved
Gracellis Properties LLC
Entity
Mailing address
1424 CORNWALL AVE, BELLINGHAM, WA 98225-4520
Ownership since
2018
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
Sep 6, 2019
—
Gracellis Properties LLC
—
Deed
related
$734,000 · Northwest Busn Dev Assn
May 17, 2018
$934,180
Gracellis Properties LLC
Leopard Bow LLC
Warranty Deed
$714,600 · Peoples Bk&tr Co/pointe Coup
Feb 27, 2008
$837,500
Leopard Bow LLC
Kolbo,l James & Linda A
Warranty Deed
—
Mar 10, 1998
$380,947
Kolbo L J
Tsimouris,konstantinos E
Grant Deed
—
—
—
Kolbo L J
—
Deed Of Trust
related
$339,750 · Whatcom State Bank
—
—
Gracellis Properties LLC
—
Deed Of Trust
related
$893,250 · Peoples Bk
—
—
Leopard Bow LLC
—
Deed Of Trust
related
$420,000 · Peoples Bank & Trust
—
—
Gracellis Properties LLC
—
Deed Of Trust
related
$734,000 · Northwest Busn Dev Assn
—
—
Kolbo L J
—
Deed Of Trust
related
$322,982 · Bank Of The Northwest
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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