Listing Agency: The Muljat Group Inc. Show Phone

Listed By: Troy Muljat, CCIM · License #2199 Show Phone

Source: Moodyscre

Added: Aug 26, 2025 Changed: Oct 26 Last Checked: Oct 28 at 6:21AM

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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.

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 / Yr

$34,749

Cap Rate

5.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$694,980 $695.0K

Cap Rate 7%

$496,414 $496.4K

Cap Rate 9%

$386,100 $386.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,590 SF

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 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 (±1% cap)

NOI $34,749 @ 7.0% cap · market cap 5.35%

Second Best

Industrial

$405.0K

$354.4K – $472.5K (±1% cap)

NOI $28,350 @ 7.0% cap · market cap 4.36%

Theoretical Best

Office A

$1.08M

$947.5K – $1.26M (±1% cap)

NOI $75,797 @ 7.0% cap · market cap 11.66%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Lynden Tribune & Print ... Publishing House trueIMAGE Publishing Publishing House Lewis Publishing Co ... Publishing House

Suggested Use

Top Pick HVAC Service Auto Parts Store Grocery & Convenience Store (Bike/Boat/Book/etc) Store Electrical Service Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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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