Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Sunnyland Commercial Building For Sale Title is generated by Realmo AI

    310 Iowa Street, Bellingham, WA 98225

    View on Map
    Claim this Listing
    For Sale
    $485,000

    Centrally located commercial building with upgrades in Sunnyland Neighborhood.

    Type:General Commercial
    Added:
    Oct 30, 2024
    Days on Market:
    585
    Last Refresh:
    May 13 at 8:15 pm

    Property Features for 310 Iowa Street

    General Information

    Standard status
    Active
    Property subtype
    General Commercial

    Building Details

    Year Built
    1906

    We can help!

    Listing Contact
    Sean Jeffrey

    Listing agent Sean Jeffrey

    Listing office RE/MAX Whatcom County, Inc.

    Listing date Oct 30, 2024

    Source Xome

    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 RE/MAX Whatcom County, Inc.

    HighLights

    • Centrally located in the desirable Sunnyland Neighborhood.
    • Upgraded in 2006 with significant improvements including electrical and foundation work.
    • Wheelchair ramp and automatic door provide accessibility.
    • Affordable price point for smaller businesses.
    • Cosmetic improvements enhance the building's appeal.
    • Street parking available in front of the building.

    Overview

    This commercial building is centrally located in the Sunnyland Neighborhood. The building was upgraded in 2006 with improvements to the electrical system, sheetrock, and foundation. Cosmetic improvements were also completed at that time. A wheelchair ramp and automatic door were added for accessibility. Street parking is available in front of the building. This property may be suitable for smaller businesses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kulshan Supported Employment Employment Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Big Box & Wholesale Store Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bellingham
    County
    Whatcom
    State
    Washington
    Longitude
    -122.471334
    Latitude
    48.756231

    Nearby Similar for Sale

    • $2,350,000
      4,960 SF

      Prime Restaurant/Retail Property For Sale

      Standalone property with high visibility and accessibility near airport.
      1650 W Bakerview Rd, Bellingham, WA
      View Details
    • $1,297,241
      4,500 SF

      Turn-Key Office or Retail Space

      Remodeled office or retail space in a central downtown location.
      204 W Holly St, Bellingham, WA
      View Details
    • $600,000
      3,600 SF

      High-Traffic Retail Property For Sale

      Retail property with high visibility in a college-driven district.
      1300 Ellis St, Bellingham, WA
      View Details
    • $5,522,212
      19,156 SF

      Downtown Office Space For Rent

      Renovated office space in the heart of Downtown.
      1311-1313 Commercial Street, Bellingham, WA
      View Details
    • $1,295,000

      High Clearance Commercial Building

      Versatile commercial building with shop, office, and service space.
      2108 Pacific St, Bellingham, WA
      View Details
    • $2,000,000
      6,645 SF

      Sunnyland Industrial Flex Space

      Industrial/flex space with fenced yard in Sunnyland neighborhood.
      2034 Franklin Street, Bellingham, WA 98225
      View Details
    • $200,000
      573 SF

      Retail/Office Space on State Street

      Ground-floor commercial condo in a high-traffic, mixed-use building.
      1031 North State Street, Bellingham, WA
      View Details
    • $5,295,000
      7,516 SF

      Medical Building with Surgery Center

      Stand-alone medical building with surgery center and operatory rooms.
      340 Birchwood Ave, Bellingham, WA
      View Details
    • $499,950

      High-Visibility Commercial Space in Bellingham

      Versatile commercial space in a high-traffic Bellingham corridor.
      1012 W Holly St, Bellingham, WA, 98225-2931
      View Details
    • $629,900
      1,826 SF

      Commercial Condo Dental Lab Space

      Built-out medical condo with dental lab processing space, operatory rooms, and dedicated parking within a business park.
      106-905 Squalicum Way, Bellingham, WA
      View Details
    • $4,750,000
      24,165 SF

      Downtown Bellingham Class A Office

      Class A office building in downtown Bellingham for sale.
      1315 Cornwall Ave, Bellingham, WA 98225
      View Details
    • $11,385,000
      47,508 SF

      Marina Building in Bellingham

      Corner building in the Marina District with strong tenant mix.
      851 Coho Way, Bellingham, WA 98225
      View Details

    FAQs

    What type of property is this?
    Specialty property - Centrally located commercial building with upgrades in Sunnyland Neighborhood.
    Where is this specialty property located?
    The property is located at 310 Iowa Street Bellingham, WA.
    What is the asking price?
    The asking price for this property is $485,000.
    What are key features of this property?
    This property features: Centrally located in the desirable Sunnyland Neighborhood.; Upgraded in 2006 with significant improvements including electrical and foundation work.; Wheelchair ramp and automatic door provide accessibility.
    (360) 647-1313
    We can help!
    Listing Contact
    Sean Jeffrey
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    310 Iowa Street, Bellingham, WA 98225
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!