Lynden Office/Industrial Blend
For Sale
Contact for pricing
113 6th St, Lynden, WA 98264
Office and industrial property with warehouse and mezzanine features.
Property Size12,470 SF
Price / SF$151.96
Days on Market296
Property Features for 113 6th St
General Information
Standard status
Active
Size
12,470 SF
Property subtype
Industrial, Office
Building Details
Year Built
1984
Buildings
3
Listing Agency:
Muljat Group Commercial
(360) 733-3030
Listed By:
Troy Muljat · License #WA B12742
Source:
Crexi
Added: Oct 21, 2025
Changed: Aug 8
Last Checked: Aug 8 at 3:15PM
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 Muljat Group Commercial
Investment Insights
Based on property information with market context.
This unique mixed-use property is located at the corner of 6th Street and Grover in Lynden, Washington, just a block from Front Street. The property features a blend of office and warehouse space, along with a mezzanine and off-street parking. The main office area includes partitioned offices, a conference room, cubicles, and a reception area, complemented by storefront windows. The warehouse space offers work areas, storage, a grade door, an additional mezzanine, and ample power. The property, totaling 12,470 square feet, consists of three legal parcels, offering the option to acquire exclusively industrial space or a combination of office and industrial areas to suit specific requirements. The property can be used for office, warehouse, and industrial purposes.
Key Highlights
- Flexible purchase options: Three legal parcels offer options to buy industrial space or a blend of office/industrial.
- Prime location: Corner lot on 6th Street and Grover, one block from Front Street.
- Versatile space: Features a blend of office, warehouse, and mezzanine areas.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$158,244
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,164,880
$3.2M
Cap Rate 7%
$2,260,629
$2.3M
Cap Rate 9%
$1,758,267
$1.8M
Market Conditions
NOI Build-Up for 12,470 SF
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.
Gross rent
$269.4K $21.60/SF
− Vacancy
−$16.2K −$1.30/SF
EGI
$253.2K $20.30/SF
− OpEx
−$94.9K −$7.61/SF
NOI
$158.2K $12.69/SF
Area
Whatcom County, WA
Vacancy
6.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,164,880
Cap Rate 7%
$2,260,629
Cap Rate 9%
$1,758,267
Alternative Uses
Best Use
Office B
$2.49M
$2.18M – $2.91M
NOI $174,491 @ 7.0% cap · market cap 9.21%
Second Best
Mixed Use
$2.26M
$1.98M – $2.64M
NOI $158,244 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$2.94M
$2.57M – $3.43M
NOI $205,924 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
Explore this area
Business Placement
Demographics for 98264, WA
23,170
Population
8,395
Households
2.8
Avg Household Size
38
Median Age
25%
College-Educated
90%
High-School Grad
57.2 sq mi
ZIP Area
405
Density / Sq Mi
$95,225
Median Household Income
$47,046
Median Earnings
$1,611
Median Rent
$538,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office and industrial property with warehouse and mezzanine features.
Where is this mixed-use property located?
The property is located at 113 6th St Lynden, WA.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Flexible purchase options: Three legal parcels offer options to buy industrial space or a blend of office/industrial.; Prime location: Corner lot on 6th Street and Grover, one block from Front Street.; Versatile space: Features a blend of office, warehouse, and mezzanine areas.
