Standalone Warehouse with Cold
For Sale
Contact for pricing
Pending
2460 Salashan Loop, Ferndale, WA 98248
Climate-controlled space includes freezer and refrigerated storage.
Property Size43,000 SF
Lot Size3.20 Acres
Days on Market545
Property Features for 2460 Salashan Loop
General Information
Standard status
Pending
Size
43,000 SF
Total Parking Spaces
33
Lot size
3.20 Acres
Property subtype
Industrial
Zoning
Light Industrial
Investment Type
Owner/User
Warehouse & Industrial
Clear Height
25 ft
Office Build-Out
1,500 SF
Dock-High Doors
4
Drive-In Doors
3
Voltage
480 V
Three-Phase Power
Yes
Sprinkler System
Yes
Cold Storage
Yes
Cold Storage Area
3,000 SF
Conditioned Warehouse
Yes
Additional Details
Highway Access
Yes
Amenities
breakroom with full kitchen
solar panels
security alarm system
Building Details
Year Built
1989
Buildings
2
Stories
2
Building Size
43,000 SF
Listing Agency:
The Muljat Group
Listed By:
John Fairbanks · License #23037942
Source:
Crexi
Added: Mar 4, 2025
Changed: Aug 30
Last Checked: Aug 30 at 8:54PM
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
Investment Insights
Based on property information with market context.
This 43,000 SF stand-alone industrial building combines warehouse, office, staff, and temperature-controlled areas. The property includes 1,500 SF of office space, a 1,500 SF breakroom with a full kitchen, and 3,000 SF dedicated to freezer and refrigerated storage. Clear heights range from 15’ to 25’, supporting approximately 800.000 cubic feet of storage capacity.
Four dock-high doors have ramp levelers, complemented by three grade-level roll-up doors. Building systems include a sprinkler system, 480v 3-phase power, solar panels, and a security alarm. The 3.2-acre site provides 33 parking spaces and is located 0.7 mi from I-5 exit #266, with the Canadian border approximately 15 minutes away. Zoning is Light Industrial.
Four dock-high doors have ramp levelers, complemented by three grade-level roll-up doors. Building systems include a sprinkler system, 480v 3-phase power, solar panels, and a security alarm. The 3.2-acre site provides 33 parking spaces and is located 0.7 mi from I-5 exit #266, with the Canadian border approximately 15 minutes away. Zoning is Light Industrial.
Key Highlights
- 43,000 SF industrial building on a 3.2‑acre lot
- 3,000 SF of freezer and refrigerated storage
- Four dock‑high doors with ramp levelers and three grade‑level roll‑up doors
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
$322,503
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
6.52%
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%
$6,450,060
$6.5M
Cap Rate 7%
$4,607,186
$4.6M
Cap Rate 9%
$3,583,367
$3.6M
Market Conditions
NOI Build-Up for 43,000 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
$387.0K $9.00/SF
− Vacancy
−$7.6K −$0.18/SF
EGI
$379.4K $8.82/SF
− OpEx
−$56.9K −$1.32/SF
NOI
$322.5K $7.50/SF
Area
Whatcom County, WA
Vacancy
1.96%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$6,450,060
Cap Rate 7%
$4,607,186
Cap Rate 9%
$3,583,367
Alternative Uses
Best Use
Warehouse
$4.61M
$4.03M – $5.38M
NOI $322,503 @ 7.0% cap · market cap 6.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.14M
$8.88M – $11.83M
NOI $710,082 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25 ft
Clear height
4
Dock-high doors
3
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98248, WA
26,784
Population
10,576
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
93%
High-School Grad
71.8 sq mi
ZIP Area
373
Density / Sq Mi
$88,566
Median Household Income
$50,059
Median Earnings
$1,455
Median Rent
$550,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Lineage — 2460, 2435, 2445 Salashan Loop, Ferndale, WA 98248
- Copac Self Storage — 6910 Salashan Pkwy # A1, Ferndale, WA 98248
- Safe Storage Solutions — 7080 Portal Way, Ferndale, WA 98248
Frequently Asked Questions
What type of property is this?
Warehouse - Climate-controlled space includes freezer and refrigerated storage.
Where is this warehouse located?
The property is located at 2460 Salashan Loop Ferndale, WA.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 43,000 SF industrial building on a 3.2‑acre lot; 3,000 SF of freezer and refrigerated storage; Four dock‑high doors with ramp levelers and three grade‑level roll‑up doors
