Social Security Administration Office
For Sale
$2,555,000
710 Alabama St, Bellingham, WA 98225
Longstanding government office occupancy at a hard corner with convenient ingress and egress.
Property Size8,300 SF
Price / SF$307.83
Days on Market24
Property Features for 710 Alabama St
General Information
Standard status
Active
Size
8,300 SF
Property subtype
Single-Tenant Office
Amenities
United States Government Guarantee
Mission Critical Tenant
Strong Historical Occupancy | 18+ Years
Pad Development Upside
High Traffic, Hard Corner Location with Easy Ingress/Egress
Strategic Position | Shadow Anchored by Top Ranked Trader Joe's
Only SSA Field Office in Whatcom County | 236,000+ Residents
Dense, Affluent Demographics
Building Details
Building Size
8,300 SF
Year Built
2008
Tenancy
Single
Listed By:
Clay Brown · License #License(s): WA: 123258, ID: SP56979
(206) 826-5787
Source:
Marcusmillichap
Added: Sep 13
Changed: Oct 3
Last Checked: Oct 5 at 3:00PM
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 Clay Brown
Investment Insights
Based on property information with market context.
This 8,300-square-foot office building is occupied by the Social Security Administration and has an occupancy history exceeding 18 years. The property serves as a field office and offers a clearly defined institutional use within a single-tenant office setting.
Located at 710 Alabama St in Bellingham, the building occupies a hard-corner position with easy ingress and egress. Trader Joe’s is identified as the surrounding shadow anchor, adding an established retail presence to the immediate setting. The property is also described as the only Social Security Administration field office in Whatcom County, which has more than 236,000 residents.
Located at 710 Alabama St in Bellingham, the building occupies a hard-corner position with easy ingress and egress. Trader Joe’s is identified as the surrounding shadow anchor, adding an established retail presence to the immediate setting. The property is also described as the only Social Security Administration field office in Whatcom County, which has more than 236,000 residents.
Key Highlights
- 8,300‑square‑foot office building occupied by the Social Security Administration
- Occupancy history exceeding 18 years
- Hard‑corner position with easy ingress and egress
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,141
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,322,820
$2.3M
Cap Rate 7%
$1,659,157
$1.7M
Cap Rate 9%
$1,290,456
$1.3M
Market Conditions
NOI Build-Up for 8,300 SF
Gross rent
$187.2K $22.56/SF
− Vacancy
−$32.4K −$3.90/SF
EGI
$154.9K $18.66/SF
− OpEx
−$38.7K −$4.66/SF
NOI
$116.1K $13.99/SF
Area
Whatcom County, WA
Vacancy
17.30%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,322,820
Cap Rate 7%
$1,659,157
Cap Rate 9%
$1,290,456
Alternative Uses
Best Use
Office B
$1.66M
$1.45M – $1.94M
NOI $116,141 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $137,062 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,241
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Longstanding government office occupancy at a hard corner with convenient ingress and egress.
Where is this office building located?
The property is located at 710 Alabama St Bellingham, WA.
What is the asking price?
The asking price for this property is $2,555,000.
What are key features of this property?
This property features: 8,300‑square‑foot office building occupied by the Social Security Administration; Occupancy history exceeding 18 years; Hard‑corner position with easy ingress and egress
