Waterfront Retail Space in Modern
1025 Granary Ave, Bellingham, WA 98225
For Sale
Contact for pricing
Retail space in a concrete, steel, and glass building overlooking Bellingham Bay, located beneath 103 waterfront condominiums.
Property Size1,605 SF
Price / SF$400
Days on Market783
Property Features for 1025 Granary Ave
General Information
Standard status
Size
Class
Property subtype
Building Details
Construction
Listing Agency:
Realogics Sotheby's International Realty Bellevue
(425) 800-0310
Listed By:
Chris Erdmann · License #26073
(360) 739-4236
Source:
Moodyscre
Added: Sep 17, 2024
Changed: Oct 26
Last Checked: Nov 8 at 2:42AM
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 Realogics Sotheby's International Realty Bellevue
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Investment Insights
Based on property information with market context.
This waterfront retail space is located within a modern building constructed with concrete, steel, and glass. The property is described as energy efficient and designed with sustainability in mind, offering a Class A retail environment intended to support consistent customer traffic.
Situated on Bellingham Bay, the building is positioned at the waterfront near downtown and directly below 103 luxury waterfront condominiums. The immediate area is described as a lively community hub with local events, including races and concerts, which can help drive periodic visitor activity.
Situated on Bellingham Bay, the building is positioned at the waterfront near downtown and directly below 103 luxury waterfront condominiums. The immediate area is described as a lively community hub with local events, including races and concerts, which can help drive periodic visitor activity.
Key Highlights
- Prime waterfront retail space on Bellingham Bay, located just steps from downtown
- Located beneath 103 luxury waterfront condominiums, with high‑traffic foot traffic in the area
- Class A commercial retail space in a concrete, steel, and glass building overlooking Bellingham Bay
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,151
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,020
$383.0K
Cap Rate 7%
$273,586
$273.6K
Cap Rate 9%
$212,789
$212.8K
Market Conditions
NOI Build-Up for 1,605 SF
Gross rent
$28.9K $18.00/SF
− Vacancy
−$1.5K −$0.95/SF
EGI
$27.4K $17.05/SF
− OpEx
−$8.2K −$5.11/SF
NOI
$19.2K $11.93/SF
Area
Whatcom County, WA
Vacancy
5.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,020
Cap Rate 7%
$273,586
Cap Rate 9%
$212,789
Alternative Uses
Best Use
Retail
$273.6K
$239.4K – $319.2K
NOI $19,151 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$378.6K
$331.3K – $441.7K
NOI $26,504 @ 7.0% cap · market cap 4.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
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Business Placement
Demographics for 98225, WA
49,078
Population
24,202
Households
2
Avg Household Size
31
Median Age
48%
College-Educated
96%
High-School Grad
12.6 sq mi
ZIP Area
3,895
Density / Sq Mi
$62,220
Median Household Income
$33,122
Median Earnings
$1,430
Median Rent
$588,800
Median Home Value
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Market
Properties on Market for Retail space in Bellingham
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - Retail space in a concrete, steel, and glass building overlooking Bellingham Bay, located beneath 103 waterfront condominiums.
Where is this retail space located?
The property is located at 1025 Granary Ave Bellingham, WA.
What is the asking price?
The asking price for this property is $642,000.
What are key features of this property?
This property features: Prime waterfront retail space on Bellingham Bay, located just steps from downtown; Located beneath 103 luxury waterfront condominiums, with high‑traffic foot traffic in the area; Class A commercial retail space in a concrete, steel, and glass building overlooking Bellingham Bay
