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1232 N State St 5,500 SF 100% Leased Retail Building Bellingham, WA 98225 $2,578,596 CAD ($468.84 CAD/SF) 7% Cap Rate

Restaurants Washington Bellingham 1232 N State St, Bellingham, WA 98225

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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.

Attachments

Sales-Brochure_1232-State-St (1)

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
$2,578,596 CAD
Price Per SF
$468.84 CAD
Cap Rate
7%
NOI
$180,474 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.79
Lot Size
0.16 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
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
1 1
Walk Score®
Walker's Paradise (98)
Bike Score®
Biker's Paradise (96)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

Nearby Major Retailers

The YMCA
KeyBank
Columbia Bank
Bank of America
U.S. Bank
Starbucks
Chase Bank
WaFd Bank
Heritage Bank
Banner Bank

Property Taxes

Parcel Number 380330-215055-0000 Improvements Assessment $1,105,808 CAD
Land Assessment $918,888 CAD Total Assessment $2,024,697 CAD

Property Taxes

Parcel Number
380330-215055-0000
Land Assessment
$918,888 CAD
Improvements Assessment
$1,105,808 CAD
Total Assessment
$2,024,697 CAD
(360) 676-4866

Still interested?

Contact the broker for more information about this property

Contact

  • Listing ID: 38015211

  • Date on Market: 2025-10-09

  • Last Updated:

  • Address: 1232 N State St, Bellingham, WA 98225

The Downtown Bellingham Retail Property at 1232 N State St, Bellingham, WA 98225 is currently available. Contact Saratoga Commercial Real Estate for more information.

RETAIL PROPERTIES IN NEARBY NEIGHBORHOODS

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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View Street
Map
1232 N State St, Bellingham, WA for sale Building Photo- Image 1 of 11
1232 - 1234 N State St Bellingham-81230 (edited)
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1232 N State St, Bellingham, WA for sale Building Photo- Image 3 of 11
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1232 N State St, Bellingham, WA for sale Building Photo- Image 4 of 11
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1232 N State St, Bellingham, WA for sale Building Photo- Image 5 of 11
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1232 N State St, Bellingham, WA for sale Building Photo- Image 6 of 11
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1232 N State St, Bellingham, WA for sale Building Photo- Image 7 of 11
1232 - 1234 N State St Bellingham-81230
1232 N State St, Bellingham, WA for sale Building Photo- Image 8 of 11
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1232 N State St, Bellingham, WA for sale Building Photo- Image 9 of 11
1232 - 1234 N State St Bellingham-81224
1232 N State St, Bellingham, WA for sale Plat Map- Image 10 of 11
Plat Map
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1232 N State St
(360) 676-4866 x

1232 N State St

Amia Froese
(360) 676-4866

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