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1232 N State St 5,500 SF 100% Leased Retail Building Bellingham, WA 98225 $1,886,000 ($342.91/SF) 7% Cap Rate
EXECUTIVE SUMMARY
Stabilized Retail Investment in Downtown Bellingham. 5,500 SF 100% occupied two tenant building located within an Opportunity Zone and Urban Village zoning. Primed for long-term investment or hold for future redevelopment.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,500 SF
Building Class
C
Year Built/Renovated
1894/2019
Price
$1,886,000
Price Per SF
$342.91
Cap Rate
7%
NOI
$132,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.79
Lot Size
0.16 AC
Opportunity Zone
Yes
Zoning
UV - Commercial Core Urban Village
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Accomplice
- Accommodation and Food Services
- 2,000 SF
- -
- Triple Net
- -
- IKI Bellingham LLC
- Accommodation and Food Services
- 3,500 SF
- -
- Triple Net
- Nov 2030
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Accomplice | Accommodation and Food Services | 2,000 SF | - | Triple Net | - | |
| IKI Bellingham LLC | Accommodation and Food Services | 3,500 SF | - | Triple Net | Nov 2030 |
Walk Score®
Walker's Paradise (98)
Bike Score®
Very Bikeable (88)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 380330-215055-0000 | Improvements Assessment | $796,405 |
| Land Assessment | $618,471 | Total Assessment | $1,414,876 |
PROPERTY TAXES
Parcel Number
380330-215055-0000
Land Assessment
$618,471
Improvements Assessment
$796,405
Total Assessment
$1,414,876
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1232 N State St
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