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Executive Summary

Prime commercial investment opportunity in the high-visibility Lakeway Drive corridor, just minutes from I-5 and major retail centers. This well-maintained, fully occupied building features a recently remodeled interior and is leased to nine established tenants, primarily consisting of medical and wellness professionals. Current occupants include acupuncture, massage therapy, counseling services, and other healthcare-related providers, creating a cohesive and highly desirable tenant mix. With 100% occupancy and all units leased, the property offers immediate and stable cash flow with no current vacancy. The strong concentration of healthcare and wellness tenants supports long-term occupancy and investment stability. The property benefits from exceptional exposure along Lakeway Drive with daily traffic counts exceeding 30,000 vehicles. A valuable parking easement to the south enhances accessibility and convenience for both clients and staff. Situated in a thriving commercial corridor with strong surrounding retail and service businesses, this property presents an outstanding opportunity for investors seeking dependable income and long-term appreciation potential. Excellent visibility, strong tenant retention, stable income history, and a fully occupied tenant roster make this a standout commercial investment opportunity.

Property Facts

Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Medical
Building Size
6,004 SF
Building Class
B
Year Built/Renovated
1979/1981
Price
$2,600,791 CAD
Price Per SF
$433.18 CAD
Cap Rate
5%
NOI
$130,040 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,002 SF
Building FAR
0.63
Lot Size
0.22 AC
Zoning
PC - Prime commercial investment opportunity in the high-visibility Lakeway Drive corridor, just minutes from I-5 and major retail centers. This well-maint

Amenities

  • Signage
  • Skylights
  • Air Conditioning
  • Smoke Detector

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease End
  • Azam Nader
  • -
  • -
  • -
  • -
Tenant Industry SF Occupied Rent/SF Lease End
Azam Nader - - - -
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
60/100

Property Taxes

Property Taxes

Parcel Number
380332-123506-0000
Land Assessment
$610,319 CAD
Improvements Assessment
$629,286 CAD
Total Assessment
$1,239,605 CAD
  • Listing ID: 40560777

  • Date on Market: 2026-05-17

  • Last Updated:

  • Address: 1200 Lakeway Dr, Bellingham, WA 98229

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