Commercial Condo Dental Lab
For Sale
$579,900
106-905 Squalicum Way, Bellingham, WA 98225
Built-out medical condo with dental lab processing space, operatory rooms, and dedicated parking within a business park.
Property Size1,826 SF
Price / SF$317.58
Days on Market190
Property Features for 106-905 Squalicum Way
General Information
Standard status
Active
Size
1,826 SF
Total Parking Spaces
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,157
Building Details
Stories
2
Listing Agency:
Gage CRE
Listed By:
Tracy Carpenter · License #23452
(360) 483-0508
Source:
Exprealty
Added: Apr 17
Changed: Oct 12
Last Checked: Oct 20 at 11:29PM
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 Gage CRE
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Investment Insights
Based on property information with market context.
This commercial condo is located within the Squalicum Lofts Business Park and is built out for dental lab operations. The ground floor includes a reception and waiting area, three operatory spaces, a lab, a restroom, and an office. A dedicated processing lab space is also included on the second floor.
Positioned at the forefront of the complex, the unit offers signage exposure to Squalicum Way. Four dedicated parking spaces are provided, with two at the front and two at the rear. The property is described as easily accessible to I-5, and walking trails and Squalicum Creek Park are adjacent to the east of the complex. The space is part of the Squalicum Lofts Condo Association.
Designed for users who need a functional clinical workspace, the layout supports patient intake on the main level along with lab and processing activity within the same condo. The dedicated parking and street-facing signage exposure can help streamline customer access for a dental or similar medical-related use.
Positioned at the forefront of the complex, the unit offers signage exposure to Squalicum Way. Four dedicated parking spaces are provided, with two at the front and two at the rear. The property is described as easily accessible to I-5, and walking trails and Squalicum Creek Park are adjacent to the east of the complex. The space is part of the Squalicum Lofts Condo Association.
Designed for users who need a functional clinical workspace, the layout supports patient intake on the main level along with lab and processing activity within the same condo. The dedicated parking and street-facing signage exposure can help streamline customer access for a dental or similar medical-related use.
Key Highlights
- Commercial condo in the Squalicum Lofts Business Park, located at the forefront with signage exposure to Squalicum Way
- Built out as a dental lab with 1,826 SF total, including reception/waiting, 3 operatory spaces, lab, restroom, and office
- Second‑floor processing lab space for ongoing dental lab work
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,551
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$511,020
$511.0K
Cap Rate 7%
$365,014
$365.0K
Cap Rate 9%
$283,900
$283.9K
Market Conditions
NOI Build-Up for 1,826 SF
Gross rent
$41.2K $22.56/SF
− Vacancy
−$7.1K −$3.90/SF
EGI
$34.1K $18.66/SF
− OpEx
−$8.5K −$4.66/SF
NOI
$25.6K $13.99/SF
Area
Whatcom County, WA
Vacancy
17.30%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$511,020
Cap Rate 7%
$365,014
Cap Rate 9%
$283,900
Alternative Uses
Best Use
Office B
$365.0K
$319.4K – $425.9K
NOI $25,551 @ 7.0% cap · market cap 4.41%
Second Best
Healthcare Medical
$256.3K
$224.3K – $299.0K
NOI $17,940 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$430.8K
$376.9K – $502.6K
NOI $30,154 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Built-out medical condo with dental lab processing space, operatory rooms, and dedicated parking within a business park.
Where is this medical office space located?
The property is located at 106-905 Squalicum Way Bellingham, WA.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: Commercial condo in the Squalicum Lofts Business Park, located at the forefront with signage exposure to Squalicum Way; Built out as a dental lab with 1,826 SF total, including reception/waiting, 3 operatory spaces, lab, restroom, and office; Second‑floor processing lab space for ongoing dental lab work
