1629 Jills Ct, Bellingham, WA 98226

Building Details

Construction steel More

Listing Agency: Windermere - Whatcom Co. Show Phone

Listed By: Chet Kenoyer · License WA #7168 Show Phone

Source: Moodyscre

Added: Aug 17 Changed: Nov 8 Last Checked: Nov 10 at 9:17AM

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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 Windermere - Whatcom Co.

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 1,250-square-foot warehouse condominium is built with a steel structure and metal roofing. The space includes an ADA-compliant bathroom, vaulted ceilings, a 14-by-14-foot overhead door with windows and an automatic opener, and a 75,000 BTU natural gas heater. Electrical service is 150-amp, three-phase, and the unit is wired for communications.

The property is in Irongate Industrial Business Park in Bellingham. A gated setting provides 24/7 access, and the 70-foot-wide aisles between buildings allow vehicle maneuvering. Each unit also has a personal mailbox.

Key Highlights

• 1,250‑square‑foot warehouse condominium
• 14‑by‑14‑foot overhead door with windows and automatic opener
• 150‑amp, three‑phase power; wired for communications

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$9,375

Cap Rate

3.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$187,500 $187.5K

Cap Rate 7%

$133,929 $133.9K

Cap Rate 9%

$104,167 $104.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,250 SF

Gross rent

$11.3K $9.00/SF

− Vacancy

−$221 −$0.18/SF

EGI

$11.0K $8.82/SF

− OpEx

−$1.7K −$1.32/SF

NOI

$9.4K $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 Rate 5%

$187,500

Cap Rate 7%

$133,929

Cap Rate 9%

$104,167

Alternative Uses

Best Use

Warehouse

$133.9K

$117.2K – $156.3K (±1% cap)

NOI $9,375 @ 7.0% cap · market cap 3.02%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$294.9K

$258.0K – $344.0K (±1% cap)

NOI $20,642 @ 7.0% cap · market cap 6.66%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Warehouses

Suggested Use

Top Pick Skin Care Clinic (Bike/Boat/Book/etc) Store Hair Salon Locksmith Veterinary Clinic Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

386

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 98226, WA

47,011

Population

20,609

Households

2.3

Avg Household Size

40

Median Age

40%

College-Educated

95%

High-School Grad

105.8 sq mi

ZIP Area

444

Density / Sq Mi

$79,684

Median Household Income

$45,337

Median Earnings

$1,557

Median Rent

$568,400

Median Home Value

Market

Average Price Trend$/SF for Warehouses in Bellingham, WA

$200 Jul

$212 Aug

$203 Sep

$196 Oct

Properties on Market for Warehouses in Bellingham

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - A gated industrial-storage condominium offers around-the-clock access and a dedicated mailbox.

Where is this warehouse located?

The property is located at 1629 Jills Ct Bellingham, WA.

What is the asking price?

The asking price for this property is $310,000.

What are key features of this property?

This property features: 1,250‑square‑foot warehouse condominium; 14‑by‑14‑foot overhead door with windows and automatic opener; 150‑amp, three‑phase power; wired for communications