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1331 Commercial St 14,810 SF Retail Building Bellingham, WA 98225 $4,269,366 ($288.28/SF) 6.20% Cap Rate
EXECUTIVE SUMMARY
Former bank building, situated in Bellingham’s Commercial Core. Open floor plan, multiple private offices, conference rooms, kitchen, and original bank vaults. Fiber, fully sprinkled, elevator, plus 12 parking spaces. Additional parking is available in Commercial Street Parking Garage across the street along with multiple area parking lots. $22,091 pm net lease in place until 11-2-26 which can be bought out. Nearly 35k sq ft of combined office possible by skybridge to 1323 Commercial St., a 19,800 sq ft office building, that is also for sale. Appointment required.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
14,810 SF
Building Class
C
Year Built
1961
Price
$4,269,366
Price Per SF
$288.28
Cap Rate
6.20%
NOI
$264,701
Tenancy
Single
Building Height
3 Stories
Building FAR
1.10
Lot Size
0.31 AC
Opportunity Zone
Yes
Zoning
Commercial Core
Parking
9 Spaces (0 Spaces per 1,000 SF Leased)
Frontage
111’ on Commercial St
Walk Score®
Walker's Paradise (99)
Bike Score®
Biker's Paradise (98)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 380330-169187-0000 | Improvements Assessment | $1,619,360 |
| Land Assessment | $1,034,481 | Total Assessment | $2,653,841 |
PROPERTY TAXES
Parcel Number
380330-169187-0000
Land Assessment
$1,034,481
Improvements Assessment
$1,619,360
Total Assessment
$2,653,841
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1331 Commercial St
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