Waterfront Industrial Property with
For Sale
Contact for pricing
1001 Hilton Ave, Bellingham, WA
35,500 SF seafood processing and warehouse facility with dock.
Property Size31,500 SF
Lot Size16.26 Acres
Price / SF$253.97
Days on Market315
Property Features for 1001 Hilton Ave
General Information
Standard status
Active
Size
31,500 SF
Lot size
16.26 Acres
Property subtype
INDUSTRIAL
Properties For Sale
at 1001 Hilton Ave
Marine Docks, Food Processing and Cold Storage Facility on Bellingham Bay
PENDING, 30 Days
Size
35,100 SF
Type
INDUSTRIAL
Lease Type
NNN
The subject property is sited on Hilton Avenue and the I & J Street Waterway, on Bellingham Bay, Bellingham, WA. The property is located within Bellingham’s marine industrial region which includes an array of marine-oriented companies such as ship builders, public marinas such as Squalicum Harbor marina, cruise terminals, shipping terminals, and the Alaska Ferry terminal.
1001 Hilton Avenue is situated on a 126,000-square-foot (2.89-acre) site that has been leased by Bornstein Seafoods from the Port of Bellingham since 1952. Their Bellingham facility processes and packages all manner of fish and shellfish products. The property benefits from a newly completed 170-foot concrete and steel dock, plus a 133-foot floating dock currently planned for completion in 2027. The current ground lease covers the land underlying the improvements and carries a monthly rent of $8,564, inclusive of the 12.83% Leasehold Excise Tax.
Contact us
Listing Agency:
Kidder Mathews
(206) 296-9600
Listed By:
Mike King, CCIM · License #73746
(206) 926-9292
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Oct 1
Last Checked: Oct 5 at 7:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kidder Mathews
Investment Insights
Based on property information with market context.
The property consists of 35,500 square feet of seafood processing, warehouse, cold storage, and office facilities. It is situated on a long-term ground lease at the Port of Bellingham and includes a 168-foot dock. The property is located within Bellingham’s marine industrial region, which includes shipbuilders, public marinas such as Squalicum Harbor marina, cruise terminals, shipping terminals, and the Alaska Ferry terminal. Seller will consider lease with purchase option.
Key Highlights
- 35,500 sq ft facility ideal for seafood processing, warehousing, cold storage, and office use.
- Features a 168' dock.
- Located on a long‑term ground lease at the Port of Bellingham.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$236,252
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,725,040
$4.7M
Cap Rate 7%
$3,375,029
$3.4M
Cap Rate 9%
$2,625,022
$2.6M
Market Conditions
NOI Build-Up for 31,500 SF
Gross rent
$283.5K $9.00/SF
− Vacancy
−$5.6K −$0.18/SF
EGI
$277.9K $8.82/SF
− OpEx
−$41.7K −$1.32/SF
NOI
$236.3K $7.50/SF
Area
Whatcom County, WA
Vacancy
1.96%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,725,040
Cap Rate 7%
$3,375,029
Cap Rate 9%
$2,625,022
Alternative Uses
Best Use
Warehouse
$3.38M
$2.95M – $3.94M
NOI $236,252 @ 7.0% cap · market cap 2.95%
Second Best
Industrial
$2.78M
$2.43M – $3.24M
NOI $194,560 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$7.43M
$6.50M – $8.67M
NOI $520,176 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,633
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Similar Off Market Nearby
- Nearby Self Storage Units Bellingham WA — 401 W Champion St, Bellingham, WA 98225
- Hilton Harbor — 1000 Hilton Ave, Bellingham, WA 98225
Frequently Asked Questions
What type of property is this?
Warehouse - 35,500 SF seafood processing and warehouse facility with dock.
Where is this warehouse located?
The property is located at 1001 Hilton Ave Bellingham, WA.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: 35,500 sq ft facility ideal for seafood processing, warehousing, cold storage, and office use.; Features a **168' dock**.; Located on a long‑term ground lease at the Port of Bellingham.
