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The Marina Bldg 851 Coho Way 47,508 SF Office Building Bellingham, WA 98225 $15,606,444 CAD ($328.50 CAD/SF) 7.50% Cap Rate
Executive Summary
Easy $70k net revenue per month. The Marina Building sits proudly on the corner of Coho Way and Roeder Ave within the Port of Bellingham’s Marina District. Actual cap rate is 7.5%, with a strong mix of regional and local tenants. 1st floor is anchored by LFS retail sales serving the marine industry, with the 2nd and 3rd floor as Class A office with secure entry served by an elevator. This 47k plus sq ft, fully sprinkled building has been meticulously upgraded and maintained with a tenant occupancy average of 9 years. Building is situated on a landlord favorable Port of Bellingham Land Lease with 36 years remaining. The math works! Abundant parking, in a walkable area with easy access to affiliated services, restaurants, trails and parks. Please do not disturb tenants.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
47,508 SF
Building Class
A
Year Built
1991
Price
$15,606,444 CAD
Price Per SF
$328.50 CAD
Cap Rate
7.50%
NOI
$1,170,483 CAD
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
15,836 SF
Building FAR
0.78
Lot Size
1.40 AC
Zoning
CWF
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
20/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 380225-125440-0099 | Improvements Assessment | $8,289,136 CAD |
| Land Assessment | $0 CAD | Total Assessment | $8,289,136 CAD |
Property Taxes
Parcel Number
380225-125440-0099
Land Assessment
$0 CAD
Improvements Assessment
$8,289,136 CAD
Total Assessment
$8,289,136 CAD
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The Marina Bldg | 851 Coho Way
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