Warehouse Condo with Roll-Up
113-3610 Irongate Rd Bellingham, WA 98226
113-3610 Irongate Rd, Bellingham, WA, 98226
$319,500
For Sale
$319,500
Warehouse condo unit includes a 1609 roll-up door, 309 by 5009 layout, and NNN lease through Nov. 2028.
Property Size1,500 SF
Price / SF$213
Days on Market128
Property Features for 113-3610 Irongate Rd
General Information
- Standard status
- Active
- Size
- 1,500 SF
Listing agency
Gage CRE
(360) 483-0508
Listed by
Tracy Carpenter · License #23452
(360) 483-0508
Source
Exprealty
Added: Mar 17 Updated: Jul 22 at 2:40PM Checked: Jul 22 at 2:40PM
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
Investment Insights
Based on property information with market context.
This warehouse condo unit is part of a secured Iron Gate complex and was built in October 2017. The space offers 309 wide by 5009 deep dimensions with an average ceiling height of 2009. The unit includes heating/insulation and is plumbed for a restroom, with a shared restroom located at the end of the building (shared with the entire building). Electrical service includes 100-amp three-phase power, and the building has separately metered gas and electricity.
The unit includes an exterior entry with a 1609 wide by 1409 roll-up door and an exclusive parking area in front of the unit(s). The property is secured by a gated, automatic security fence with code access. Thickened footing is in place to accommodate a 2509 by 2009 mezzanine if desired.
The unit is offered for sale as part of an NNN lease, which is in place through Nov. 2028.
The unit includes an exterior entry with a 1609 wide by 1409 roll-up door and an exclusive parking area in front of the unit(s). The property is secured by a gated, automatic security fence with code access. Thickened footing is in place to accommodate a 2509 by 2009 mezzanine if desired.
The unit is offered for sale as part of an NNN lease, which is in place through Nov. 2028.
Key Highlights
- NNN lease in place through Nov. 2028
- Warehouse/storage space with 30' by 50' layout and average 20' ceiling height
- Includes a 16' x 14' roll‑up door
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $13.5k | $9.00 |
| − Vacancy | −$265 | −$0.18 |
| EGI | $13.2k | $8.82 |
| − OpEx | −$2.0k | −$1.32 |
| NOI | $11.3k | $7.50 |
1,500 SF · lease $9.00/SF/yr · vacancy 1.96% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$160.7K
$140.6K – $187.5K
NOI $11,250 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$353.9K
$309.6K – $412.8K
NOI $24,770 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Warehouse - Warehouse condo unit includes a 1609 roll-up door, 309 by 5009 layout, and NNN lease through Nov. 2028.
Where is this warehouse located?
The property is located at 113-3610 Irongate Rd Bellingham, WA.
What is the asking price?
The asking price for this property is $319,500.
What are key features of this property?
This property features: NNN lease in place through Nov. 2028; Warehouse/storage space with 30' by 50' layout and average 20' ceiling height; Includes a 16' x 14' roll‑up door
