Burlington Industrial Warehouse For
For Sale
Contact for pricing
Pending
1369 Pacific Drive, Burlington, WA
Industrial/manufacturing warehouse in a four-county hub with easy I-5 access.
Property Size31,750 SF
Lot Size1.86 Acres
Days on Market276
Property Features for 1369 Pacific Drive
General Information
Standard status
Pending
Size
31,750 SF
Lot size
1.86 Acres
Property subtype
INDUSTRIAL
Lease Type
NNN
Properties For Sale
at 1369 Pacific Drive Contact us- Size
- 31,750 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- PENDING
Heavy Power Industrial Warehouse
Industrial/manufacturing warehouse in Burlington situated in what is known as a four-county...
show more
Contact us
Listing Agency:
Pacific Continental Realty, LLC
(360) 305-9977
Listed By:
KC Coonc · License #17357
(360) 305-9977
Source:
Moodyscre
Added: Nov 23, 2025
Changed: Aug 20
Last Checked: Aug 25 at 12:05PM
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 Pacific Continental Realty, LLC
Investment Insights
Based on property information with market context.
This industrial/manufacturing warehouse is located in Burlington, within a four-county hub serving Skagit, Whatcom, Island, and Snohomish counties. The property features concrete tilt wall construction and a 25-foot clear height. It includes ten 14-foot grade doors, four cross docks with levelers, and two 10-foot grade doors. The warehouse benefits from partial in-floor drains, skylights, and side window daylighting. The property has a substantial power service, offering 3,000 Amps at 480 Volt 3-Phase and 1,600 Amps at 208/110 Volt Single Phase. The location provides convenient truck access to both northbound and southbound I-5, along with ample employee parking. The available space totals 31,750 square feet, configured with 27,200 square feet of warehouse space and 4,550 square feet of office space.
Key Highlights
- High power capacity: 3,000 Amps 480 Volt 3‑Phase and 1,600 Amps 208/110 Volt Single Phase.
- Excellent loading capabilities: Ten 14’ grade doors and four cross docks with levelers.
- Strategic location: Situated in a four‑county hub with easy I‑5 access.
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
$325,537
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
6.26%
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%
$6,510,740
$6.5M
Cap Rate 7%
$4,650,529
$4.7M
Cap Rate 9%
$3,617,078
$3.6M
Market Conditions
NOI Build-Up for 31,750 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
$388.6K $12.24/SF
− Vacancy
−$5.6K −$0.18/SF
EGI
$383.0K $12.06/SF
− OpEx
−$57.4K −$1.81/SF
NOI
$325.5K $10.25/SF
Area
Skagit County, WA
Vacancy
1.45%
Lease Rate
$12.24 /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%
$6,510,740
Cap Rate 7%
$4,650,529
Cap Rate 9%
$3,617,078
Alternative Uses
Best Use
Warehouse
$4.65M
$4.07M – $5.43M
NOI $325,537 @ 7.0% cap · market cap 6.26%
Second Best
Industrial
$3.83M
$3.35M – $4.47M
NOI $268,090 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$12.91M
$11.30M – $15.07M
NOI $903,912 @ 7.0% cap · market cap 17.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
703
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
- Bellingham Cold Storage Burlington Dry — 1600 Port Dr, Burlington, WA 98233
- Aztec Self Storage — 650 Pease Rd, Burlington, WA 98233
- Advanced Self Storage in Burlington — 600 Fisher Ln, Burlington, WA 98233
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial/manufacturing warehouse in a four-county hub with easy I-5 access.
Where is this warehouse located?
The property is located at 1369 Pacific Drive Burlington, WA.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: High power capacity: 3,000 Amps 480 Volt 3‑Phase and 1,600 Amps 208/110 Volt Single Phase.; Excellent loading capabilities: Ten 14’ grade doors and four cross docks with levelers.; Strategic location: Situated in a four‑county hub with easy I‑5 access.
