Waterfront Retail Space in Modern
For Sale
Contact for pricing
1025 Granary Ave, Bellingham, WA 98225
Retail space in a concrete, steel, and glass building overlooking Bellingham Bay, located beneath 103 waterfront condominiums.
Property Size1,605 SF
Price / SF$400
Days on Market685
Property Features for 1025 Granary Ave
General Information
Standard status
Active
Size
1,605 SF
Class
A
Property subtype
RETAIL
Building Details
Construction
concrete, steel, and glass
Listing Agency:
Realogics Sotheby's International Realty Bellevue
(360) 739-4236
Listed By:
Chris Erdmann
(360) 739-4236
Source:
Moodyscre
Added: Sep 17, 2024
Changed: Jul 26
Last Checked: Aug 1 at 2:20PM
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 Realogics Sotheby's International Realty Bellevue
Investment Insights
Based on property information with market context.
This waterfront retail space is located within a modern building constructed with concrete, steel, and glass. The property is described as energy efficient and designed with sustainability in mind, offering a Class A retail environment intended to support consistent customer traffic.
Situated on Bellingham Bay, the building is positioned at the waterfront near downtown and directly below 103 luxury waterfront condominiums. The immediate area is described as a lively community hub with local events, including races and concerts, which can help drive periodic visitor activity.
Situated on Bellingham Bay, the building is positioned at the waterfront near downtown and directly below 103 luxury waterfront condominiums. The immediate area is described as a lively community hub with local events, including races and concerts, which can help drive periodic visitor activity.
Key Highlights
- Prime waterfront retail space on Bellingham Bay, located just steps from downtown
- Located beneath 103 luxury waterfront condominiums, with high‑traffic foot traffic in the area
- Class A commercial retail space in a concrete, steel, and glass building overlooking Bellingham Bay
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 | $28.9k | $18.00 |
| − Vacancy | −$1.5k | −$0.95 |
| EGI | $27.4k | $17.05 |
| − OpEx | −$8.2k | −$5.11 |
| NOI | $19.2k | $11.93 |
1,605 SF · lease $18.00/SF/yr · vacancy 5.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$273.6K
$239.4K – $319.2K
NOI $19,151 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$378.6K
$331.3K – $441.7K
NOI $26,504 @ 7.0% cap · market cap 4.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,386
Businesses Nearby
54k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Dining 7%
Home Improvements & Furnishings 7%
Apparel 6%
Dollar Tree
Shops & Services
10,253 visits/mo
0.4 miles
U.S. Bank
Shops & Services
6,011 visits/mo
0.2 miles
Chevron
Shops & Services
4,248 visits/mo
0.3 miles
Chase Bank
Shops & Services
4,015 visits/mo
0.3 miles
Peoples Bank
Shops & Services
3,812 visits/mo
0.2 miles
Demographics for 98225, WA
49,078
Population
24,202
Households
2
Avg Household Size
31
Median Age
48%
College-Educated
96%
High-School Grad
12.6 sq mi
ZIP Area
3,895
Density / Sq Mi
$62,220
Median Household Income
$33,122
Median Earnings
$1,430
Median Rent
$588,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space in a concrete, steel, and glass building overlooking Bellingham Bay, located beneath 103 waterfront condominiums.
Where is this retail space located?
The property is located at 1025 Granary Ave Bellingham, WA.
What is the asking price?
The asking price for this property is $642,000.
What are key features of this property?
This property features: Prime waterfront retail space on Bellingham Bay, located just steps from downtown; Located beneath 103 luxury waterfront condominiums, with high‑traffic foot traffic in the area; Class A commercial retail space in a concrete, steel, and glass building overlooking Bellingham Bay
