Corner Industrial Flex
For Sale
Contact for pricing
113 6th St, Lynden, WA 98264
Industrial flex space with mezzanine, break room or office-entry area, and substantial power for warehousing and work functions.
Property Size4,590 SF
Price / SF$141.61
Days on Market384
Property Features for 113 6th St
General Information
Standard status
Active
Size
4,590 SF
Property subtype
INDUSTRIAL
Listing Agency:
The Muljat Group Inc.
(360) 733-3030
Listed By:
Troy Muljat, CCIM · License #2199
(360) 820-2000
Source:
Moodyscre
Added: Aug 26, 2025
Changed: Sep 11
Last Checked: Sep 13 at 11:50AM
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 The Muljat Group Inc.
Investment Insights
Based on property information with market context.
This corner industrial flex property offers approximately 3,420 SF of industrial space with an additional 1,170 SF mezzanine. Interior layout includes a break room or potential office/entry area, along with work areas and storage designed to support a variety of industrial needs. The property also includes lots of power to help accommodate day-to-day operations.
The building is located on the corner of 6th Street and Grover in Lynden, about one block from Front Street. Access to the parcel identified as 4003201933030000 will need to be obtained from Grover Street.
The offering is cross-listed and presented for sale.
The building is located on the corner of 6th Street and Grover in Lynden, about one block from Front Street. Access to the parcel identified as 4003201933030000 will need to be obtained from Grover Street.
The offering is cross-listed and presented for sale.
Key Highlights
- Corner industrial flex property on 6th Street and Grover in Lynden, about one block from Front Street
- Approx. 3,420 SF industrial space with approx. 1,170 SF mezzanine
- Includes break room or potential office/entry area, work areas, and storage
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
$34,749
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
5.35%
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%
$694,980
$695.0K
Cap Rate 7%
$496,414
$496.4K
Cap Rate 9%
$386,100
$386.1K
Market Conditions
NOI Build-Up for 4,590 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
$54.5K $11.88/SF
− Vacancy
−$1.1K −$0.23/SF
EGI
$53.5K $11.65/SF
− OpEx
−$18.7K −$4.08/SF
NOI
$34.7K $7.57/SF
Area
Whatcom County, WA
Vacancy
1.96%
Lease Rate
$11.88 /SF/Yr
Expense Ratio
35.00%
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%
$694,980
Cap Rate 7%
$496,414
Cap Rate 9%
$386,100
Alternative Uses
Best Use
Flex RnD
$496.4K
$434.4K – $579.2K
NOI $34,749 @ 7.0% cap · market cap 5.35%
Second Best
Industrial
$405.0K
$354.4K – $472.5K
NOI $28,350 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$1.08M
$947.5K – $1.26M
NOI $75,797 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex space with mezzanine, break room or office-entry area, and substantial power for warehousing and work functions.
Where is this flex space located?
The property is located at 113 6th St Lynden, WA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Corner industrial flex property on 6th Street and Grover in Lynden, about one block from Front Street; Approx. 3,420 SF industrial space with approx. 1,170 SF mezzanine; Includes break room or potential office/entry area, work areas, and storage
