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1232 N State St 5,500 SF 100% Leased Retail Building Bellingham, WA 98225 $2,565,922 CAD ($466.53 CAD/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
$2,565,922 CAD
Price Per SF
$466.53 CAD
Cap Rate
7%
NOI
$179,587 CAD
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 |
Very walkable
80/100
Moderately drivable
70/100
Good public transit
60/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 380330-215055-0000 | Improvements Assessment | $1,084,823 CAD |
| Land Assessment | $901,450 CAD | Total Assessment | $1,986,273 CAD |
Property Taxes
Parcel Number
380330-215055-0000
Land Assessment
$901,450 CAD
Improvements Assessment
$1,084,823 CAD
Total Assessment
$1,986,273 CAD
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1232 N State St
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