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Property profile & analytics
OFF-MARKET
Estimated value
$11,605,000
Investment properties
1616 Cornwall Ave, Bellingham, WA 98225-4648
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0729417
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1949
Total area
67,964 SF
Lot
2.33 ac (101,408 SF)
Zoning code
CC
APN
380330 317254 0000
UPID
US90-0729417
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
-
Unity Care NW - Adult Dental Dental Office
-
Dr. Patrick Pacyga Dental Office
-
Inner Composure Yoga Gym & Fitness Center
-
Unity Care NW - Behavioral Health Crisis Center Medical Clinic
-
Dr. Laurel Brion Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.42M
CAP Approach
CAP
$13.27M
Comparable Approach
Comparable
$13.82M
Blend (final)
Blend
$11.61M
Owner & transaction history
Unity Care Northwest · 4 yrs held
Unity Care Northwest
since 2022
Last sale
$9.7M
4 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
$11,665,000
ML approach
$11,415,000
CAP Approach
CAP Return
Estimation
6%
$14,375,000
6.5%
$13,270,000
7%
$12,320,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$18,890,000
Current use
Blend value · Realmo final
$11.61M
Range $10.44M – $12.77M · ±10% · vs last sale $9.73M (Jun 30 2022)
Last sale anchor
$9.73M
Jun 30 2022
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
$171 / 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
$70,500
Tax year 2024
Assessed value
$9,067,520
Assessed 2023
Previous assessed
$8,971,861
+1.1% YoY
Effective rate
0.78%
On assessed value
Assessed land
$2,437,631
Assessed improvement
$6,629,889
Land market value
$2,437,631
Improvement market value
$6,629,889
Total market value
$9,067,520
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1949
Heating
NONE
Cooling
YES
Total area
67,964 SF
Lot
2.33 ac (101,408 SF)
Zoning code
CC
APN
380330 317254 0000
UPID
US90-0729417
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
COMMERCIAL (GENERAL) Current
Est. value
$18.9M
COMMERCIAL (GENERAL) Current
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
1949
Heating
NONE
Cooling
Yes
Lot
2.33 ac
Current owner
From public records · entity-resolved
Unity Care Northwest
Individual
Mailing address
1616 CORNWALL AVE STE #205, BELLINGHAM, WA 98225-4642
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2022
$9,725,000
Unity Care Northwest
Garnet LLC
Warranty Deed
$7,920,000 · Washington Health Care Facilities A
—
—
Garnet LLC
—
Deed Of Trust
related
$2,280,000 · Peoples Bank & Trust
—
—
Garnet LLC
—
Deed Of Trust
related
$2,762,330 · Peoples Bank & Trust
—
—
Garnett LLC
—
Deed Of Trust
related
$100,000 · Peoples Bank & Trust
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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