Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1111 W Holly St Bellingham, WA 98225

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Small office space in maintained building near downtown with parking.

    Property size:
    1,119 SF
    Lot size:
    0.34 Acres

    Property Features for 1111 W Holly St

    General Information

    Size
    1,119 SF
    Lot size
    0.34 Acres

    We can help!

    Listing Contact
    Jason Loeb
    Source: Moodyscre

    Listing Agency: Windermere - Whatcom Co. Listing Agent: Jason Loeb

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Well-Located Office Space with Views

    This 1,119 square foot office space is located in a well-maintained building and features bay views. The layout includes three offices, a conference or meeting room area, and flexible space that could function as a reception area, workspace, or open office area. The building offers covered parking and elevator access. Its location provides proximity to downtown and port amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bellingham Party Bus ... Limousine Service Toomey Law Practice Law Firm Experience International Charitable Organization Full Circle Internal ... Alternative Medicine Practice Deep Peace Somatics Alternative Medicine Practice

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Hair Salon Spa & Massage Center Nail Salon Building Supply Daycare Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bellingham
    County
    Whatcom
    State
    Washington
    Longitude
    -122.489017
    Latitude
    48.755852

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Barkley Village

      Meet, work or collaborate in our professional Columbia Center business center
      2219 Rimland Dr, Bellingham, WA 98226
      View Details
    • $15 SF/Yr

      Mykonos Greek

      Premium Bellingham High Traffic Restaurant
      1650 W Bakerview Rd, Bellingham, WA 98226
      View Details
    • $1,000 /Mo
      700 SF

      Prime Retail Space Available

      Highly visible retail space in a thriving commercial corridor.
      2025 James Street Rd, Bellingham, WA
      View Details
    • $10 SF/Yr
      4,860 SF

      Updated Warehouse/Retail Space Available

      Unique, updated 4860 SF warehouse/retail space near downtown Bellingham.
      1421 N Forest St, Bellingham, WA 98225
      View Details
    • Contact for pricing
      6,344 SF

      Architectural Award-Winning Acme Building

      Art Deco-inspired building with commercial kitchen and rooftop deck.
      1011 Harris Ave, Bellingham, WA 98225
      View Details
    • Contact for pricing
      12,000 SF

      Former Rite Aid Building

      Freestanding building with drive-thru on a 2.38-acre lot.
      3227 Northwest Ave, Bellingham, WA 98225
      View Details
    • $3,250 /Mo
      4,000 SF

      Downtown Bellingham Open Studio Space

      4,000 SF open space suitable for fitness or studio.
      1412 Cornwall Ave, Bellingham, WA 98225
      View Details
    • $10 SF/Yr
      1,537 SF

      Fairhaven Office Space with Parking

      Professional office space in a highly visible, central location.
      1514 12Th St, Bellingham, WA 98225
      View Details
    • Contact for pricing
      1,220 SF

      Remodeled Retail Space in Cordata

      Retail suites available in Cordata Place shopping center.
      4151 Meridian St, Bellingham, WA 98226
      View Details
    • $1.35 SF/Yr
      40,000 SF

      New Industrial Development Near Airport

      New industrial park with customizable units, available Spring 2027.
      3901 Sound Way, Bellingham, WA 98226
      View Details
    • $1.00 SF/Yr
      10,269 SF

      Bellingham Light Industrial Building

      Light industrial building with warehouse, mezzanine, office, and loading dock.
      2222 Queen St, Bellingham, WA 98229
      View Details
    • Contact for pricing
      1,940 SF

      Remodeled Office Space Available Soon

      Recently remodeled office space for lease starting May 2024.
      2203-2209 Elm St, Bellingham, WA 98225
      View Details

    FAQs

    What type of property is this?
    Office units - Small office space in maintained building near downtown with parking.
    Where is this office units located?
    The property is located at 1111 W Holly St Bellingham, WA.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: - Well-located office space close to downtown and port amenities.; - Enjoy bay views.; - Three private offices plus a conference/meeting room.
    (360) 734-7500 Call to check price and availability
    Request Owner's contact information
    1111 W Holly St Bellingham, WA 98225
    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.
    1111 W Holly St
    Bellingham, WA 98225
    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
    1111 W Holly St Bellingham, WA 98225
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jason Loeb
    (360) 734-7500 (360) 305-6917 (360) 676-5900
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!