Building Details

Year Built 2026

Listing Agency: Windermere RE Whatcom,Inc.

Listed By: David Rehm Show Phone

Source: Skylineproperties

Added: Oct 4 Changed: Oct 10 Last Checked: Oct 10 at 2:58AM

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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 RE Whatcom,Inc.

Investment Insights

Based on property information with market context.

This flex condominium unit, built in 2026, has a 5,940-square-foot floor plan with a 655-square-foot loft, for 6,588 total square feet in its current configuration. Features include a bathroom with shower, concrete floors, a utility sink, fire sprinklers, a 50-amp RV outlet, and Comcast Business wiring. Eight overhead doors—four measuring 14' x 14' and four measuring 9' x 8'—provide multiple access points.

The gated complex offers keypad or remote entry, aisleways more than 50 feet wide, dedicated unit addresses, and individual mailboxes. The property also has access to I-5.

Key Highlights

• 6,588 total square feet in current configuration, including a 5,940 SF floor plan and 655 SF loft
• Eight overhead doors: four at 14' x 14' and four at 9' x 8'
• Bathroom with shower, concrete floors, utility sink, and fire sprinklers

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$49,875

Cap Rate

4.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$997,500 $997.5K

Cap Rate 7%

$712,500 $712.5K

Cap Rate 9%

$554,167 $554.2K

Market Conditions

NOI Build-Up for 6,588 SF

Gross rent

$78.3K $11.88/SF

− Vacancy

−$1.5K −$0.23/SF

EGI

$76.7K $11.65/SF

− OpEx

−$26.9K −$4.08/SF

NOI

$49.9K $7.57/SF

Area

Whatcom County, WA

Vacancy

1.96%

Lease Rate

$11.88 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$997,500

Cap Rate 7%

$712,500

Cap Rate 9%

$554,167

Alternative Uses

Best Use

Flex RnD

$712.5K

$623.4K – $831.3K (±1% cap)

NOI $49,875 @ 7.0% cap · market cap 4.34%

Second Best

Industrial

$581.3K

$508.6K – $678.2K (±1% cap)

NOI $40,691 @ 7.0% cap · market cap 3.54%

Theoretical Best

Office A

$1.55M

$1.36M – $1.81M (±1% cap)

NOI $108,791 @ 7.0% cap · market cap 9.46%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Building Supply Law Firm Parking Lot & Garage Bakery Daycare Center Accounting Firm

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

8

Drive-in doors

Yes

Sprinkler system

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

19

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

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - A shower-equipped bathroom, mezzanine loft, and dedicated mailing address support a range of business and storage needs.

Where is this flex space located?

The property is located at 1958 Baltic Unit E-105 Ferndale, WA.

What is the asking price?

The asking price for this property is $1,150,000.

What are key features of this property?

This property features: 6,588 total square feet in current configuration, including a 5,940 SF floor plan and 655 SF loft; Eight overhead doors: four at 14' x 14' and four at 9' x 8'; Bathroom with shower, concrete floors, utility sink, and fire sprinklers