Mixed-Use Flex Development
For Sale
Contact for pricing
1310 G St, Bellingham, WA 98225
Existing building supports retail, office, studio, service, light production, and more on a site with multifamily tax exemption eligibility.
Property Size10,019 SF
Price / SF$79.84
Days on Market247
Property Features for 1310 G St
General Information
Standard status
Active
Size
10,019 SF
Property subtype
MULTIFAMILY
Listing Agency:
KW Lake Washington South
(253) 797-5858
Listed By:
Daniel Sebryakov
Source:
Moodyscre
Added: Nov 26, 2025
Changed: Jul 28
Last Checked: Jul 30 at 2:17PM
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 KW Lake Washington South
Investment Insights
Based on property information with market context.
This mixed-use flex development property includes an existing building designed to support a wide range of commercial uses, including retail, office, studio, service businesses, light production, and mixed commercial configurations. The site previously held permits for a 50-unit multifamily project (permits are now expired) and still qualifies for the Multi-Family Housing Tax Exemption.
Located at 1310 G St in Old Town Bellingham, the property is described as being minutes from Downtown, the Waterfront District, WWU, and major transit routes. An 84-unit development is also noted as coming in 2026, about two blocks away.
For buyers and operators, the property offers an on-site commercial building to lease while planning future redevelopment.
Located at 1310 G St in Old Town Bellingham, the property is described as being minutes from Downtown, the Waterfront District, WWU, and major transit routes. An 84-unit development is also noted as coming in 2026, about two blocks away.
For buyers and operators, the property offers an on-site commercial building to lease while planning future redevelopment.
Key Highlights
- Existing building supports a range of commercial uses including retail, office, studio, service businesses, and light production
- Site previously had permits for a 50‑unit multifamily project (permits now expired)
- Still qualifies for the Multi‑Family Housing Tax Exemption
Financial Insights For Industrial
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 | $90.2k | $9.00 |
| − Vacancy | −$1.8k | −$0.18 |
| EGI | $88.4k | $8.82 |
| − OpEx | −$26.5k | −$2.65 |
| NOI | $61.9k | $6.18 |
10,019 SF · lease $9.00/SF/yr · vacancy 1.96% · expense 30.00%
Alternative Uses
Best Use
Office B
$2.00M
$1.75M – $2.34M
NOI $140,194 @ 7.0% cap · market cap 17.53%
Second Best
Retail
$1.71M
$1.49M – $1.99M
NOI $119,549 @ 7.0% cap · market cap 14.94%
Theoretical Best
Office A
$2.36M
$2.07M – $2.76M
NOI $165,449 @ 7.0% cap · market cap 20.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,678
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Existing building supports retail, office, studio, service, light production, and more on a site with multifamily tax exemption eligibility.
Where is this flex space located?
The property is located at 1310 G St Bellingham, WA.
What is the asking price?
The asking price for this property is $799,950.
What are key features of this property?
This property features: Existing building supports a range of commercial uses including retail, office, studio, service businesses, and light production; Site previously had permits for a 50‑unit multifamily project (permits now expired); Still qualifies for the Multi‑Family Housing Tax Exemption
