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2000 Kentucky St 47,807 SF Industrial Building Bellingham, WA 98229 $7,400,000 ($154.79/SF) 6.48% Cap Rate
EXECUTIVE SUMMARY
Single-Tenant NNN Leased Property with 3% annual increases. Six-year lease commenced May 1, 2025. Landlord signed Bid to provide 4 new HVAC Units (HVAC work scheduled to be completed in October 2025).
Premier location near I-5 in central Bellingham. 47,807 SF building with 29,950 SF Warehouse, 16,916 SF Office (Ground and Mezzanine) and 941 SF of covered loading dock. Large paved parking lot with approx. 70 parking spaces. Property is fully fenced, with entrance onto Kentucky St. Heavy Power in the building (480V, 1,600 Amp). Elevator on South wing. Warehouse space is Sprinklered and plumbed throughout with pneumatics. Fully insulated structure (including roof). Covered loading dock has two truck wells.
Premier location near I-5 in central Bellingham. 47,807 SF building with 29,950 SF Warehouse, 16,916 SF Office (Ground and Mezzanine) and 941 SF of covered loading dock. Large paved parking lot with approx. 70 parking spaces. Property is fully fenced, with entrance onto Kentucky St. Heavy Power in the building (480V, 1,600 Amp). Elevator on South wing. Warehouse space is Sprinklered and plumbed throughout with pneumatics. Fully insulated structure (including roof). Covered loading dock has two truck wells.
PROPERTY FACTS
| Price | $7,400,000 | Lot Size | 1.97 AC |
| Price Per SF | $154.79 | Rentable Building Area | 47,807 SF |
| Sale Type | Investment NNN | No. Stories | 1 |
| Cap Rate | 6.48% | Year Built | 1984 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 1 |
| Building Class | B | ||
| Zoning | LI | ||
| Price | $7,400,000 |
| Price Per SF | $154.79 |
| Sale Type | Investment NNN |
| Cap Rate | 6.48% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 1.97 AC |
| Rentable Building Area | 47,807 SF |
| No. Stories | 1 |
| Year Built | 1984 |
| Tenancy | Single |
| No. Dock-High Doors/Loading | 1 |
| Zoning | LI |
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PROPERTY TAXES
| Parcel Number | 380329-453446-0000 | Improvements Assessment | $2,403,557 |
| Land Assessment | $1,003,320 | Total Assessment | $3,406,877 |
PROPERTY TAXES
Parcel Number
380329-453446-0000
Land Assessment
$1,003,320
Improvements Assessment
$2,403,557
Total Assessment
$3,406,877
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2000 Kentucky St
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