Downtown Storefront with Redevelopment
1232 N State St Bellingham, WA 98225
1232 N State St, Bellingham, WA, 98225
Contact for pricing
For Sale
Contact for pricing
Storefront in Downtown District with redevelopment potential and outdoor courtyard.
Property Size5,500 SF
Price / SF$300
Days on Market57
Property Features for 1232 N State St
General Information
- Standard status
- Active
- Size
- 5,500 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1894
Listing Agency
Saratoga Commercial
Listed by
Amia Froese · License #27664
Source
Crexi
Added: May 22 Checked: Jul 14 at 8:26 pm
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 Saratoga Commercial
Investment Insights
Based on property information with market context.
This property features a welcoming storefront presence and an inviting outdoor courtyard patio. Located within the Downtown District’s Urban Village and Opportunity Zone, the property offers future upside. The property size is 5500 square feet. Zoning advantages include no maximum density, no maximum height restriction, and no minimum setbacks. The property is suitable for investors seeking dependable in-place income with redevelopment potential.
Key Highlights
- Exceptional future upside due to location within Downtown District's Urban Village and Opportunity Zone.
- Zoning advantages: no maximum density, no maximum height restriction, and no minimum setbacks.
- Dependable in‑place income potential for investors.
Local Financial Insights For Retail
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 | $99.0k | $18.00 |
| − Vacancy | −$5.2k | −$0.95 |
| EGI | $93.8k | $17.05 |
| − OpEx | −$28.1k | −$5.11 |
| NOI | $65.6k | $11.93 |
5,500 SF · lease $18.00/SF/yr · vacancy 5.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$937.5K
$820.3K – $1.09M
NOI $65,627 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.51M
NOI $90,824 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Accomplice
Restaurant
Comrade
Take-out & Catering
Rudy's Pizzeria
Restaurant
Similar For Sale Nearby
Similar Off Market Nearby
- All About Flowers — 104 Ohio St, Bellingham, WA 98225
- A New Leaf Flower Shoppe — 1327 Cornwall Ave, Bellingham, WA 98225
- Johnson's Flower Shop — 104 Ohio St, Bellingham, WA 98225
- Johnson's Flower Shop — 121 W Magnolia St, Bellingham, WA 98225
FAQs
What type of property is this?
Storefront property - Storefront in Downtown District with redevelopment potential and outdoor courtyard.
Where is this storefront property located?
The property is located at 1232 N State St Bellingham, WA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Exceptional future upside due to location within Downtown District's Urban Village and Opportunity Zone.; Zoning advantages: no maximum density, no maximum height restriction, and no minimum setbacks.; Dependable in‑place income potential for investors.
