Entity Owned 
For Sale
Contact for pricing
2500 Cornwall Ave, Bellingham, WA 98225
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Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1924
Total area
6,680 SF
Lot
0.29 ac (12,702 SF)
Zoning code
PNC
APN
380319 310095 0000
UPID
US90-3194791
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
-
Bakery Specialty Food Shop
-
Food Processing Plant Factory
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.31M
Comparable Approach
Comparable
$829k
Blend (final)
Blend
$1.13M
Owner & transaction history
since 2008
6 recorded transactions
Zoning & alternative use
PNC · 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
$1.13M
Value range
$1.02M – $1.24M
±10% around blend
Estimated value / SF
$169 / SF
Confidence
Low
3 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
30
Income certainty
100
$1.02M
blend $1.13M
$1.24M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
6,680 SF
Lot area
0.29 ac
Year built
1924
APN
380319 310095 0000
Zoning
PNC
Assessed value
$1,348,207
Annual tax
$11,439
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.31M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.42M
@ 6.5% CAP return
$1.31M
@ 7% CAP return
$1.21M
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
$11,439
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$4.35M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
21.1 mi away · 4,964 SF
23.7 mi away · 5,454 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.13M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 67 sales
$278
-39%
Submarket 193 sales
$298
-43%
County 353 sales
$279
-39%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $169/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
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Overview
Selected market yield
3.86%
Selected cap rate for this investment properties
Derived from the Bellingham market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.86%
9.0%
NOI (est.)
$79k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.05M
Move the market yield to see immediate price impact.
Value / SF
$307
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
3.36%3.86%4.36%
$71k
$2.12M
$1.84M
$1.63M
$79k
$2.35M
$2.05M
$1.81M
$87k
$2.59M
$2.25M
$1.99M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$1.19M
12.5 mi · Dec 2025 · $240/SF
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Tax billed
$11,439
Tax year 2021
Assessed value
$1,348,207
Assessed 2022
Previous assessed
$1,348,207
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$574,548
Assessed improvement
$773,659
Land market value
$574,548
Improvement market value
$773,659
Total market value
$1,348,207
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 Sale
Year built
1924
Heating
FORCED AIR
Cooling
AC.FAN COOLING
Total area
6,680 SF
Lot
0.29 ac (12,702 SF)
Zoning code
PNC
APN
380319 310095 0000
UPID
US90-3194791
Jurisdiction
WHATCOM
Zoning & alternative use
PNC · Bellingham, WAZoning PNC · permitted uses
PNC · Bellingham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1924
Heating
FORCED AIR
Cooling
Yes
Lot
0.29 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
PNC
Jurisdiction
Bellingham, WA
Recorded code
PNC
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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