Building Details

Year Built 2026

Listing Agency: Windermere RE Whatcom, Inc.

Listed By: David Rehm Show Phone

Source: Pugetsoundpropertyguide

Added: Oct 1 Changed: Oct 13 Last Checked: Oct 13 at 2:33AM

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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.

Built in 2026, this flex condominium unit is configured with 1,485 square feet of ground-floor space and a 655-square-foot loft, totaling 2,140 square feet. The corner position brings in natural light through additional windows. Interior features include a bathroom with shower, concrete flooring, a utility sink, fire sprinklers, a 50-amp RV outlet, and Comcast Business wiring. Two overhead doors measure 14' x 14' and 9' x 8'.

The complex offers gated entry by keypad or remote, dedicated unit addresses with individual mailboxes, and aisleways more than 50 feet wide. Access to I-5 is available from the property. The unit is presented for business use or secure vehicle storage, including RVs, boats, and cars.

Key Highlights

• 2,140 total square feet: 1,485‑square‑foot floor plan plus a 655‑square‑foot loft
• Corner unit with additional windows
• Two overhead doors: 14' x 14' and 9' x 8'

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,201

Cap Rate

4.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$324,020 $324.0K

Cap Rate 7%

$231,443 $231.4K

Cap Rate 9%

$180,011 $180.0K

Market Conditions

NOI Build-Up for 2,140 SF

Gross rent

$25.4K $11.88/SF

− Vacancy

−$498 −$0.23/SF

EGI

$24.9K $11.65/SF

− OpEx

−$8.7K −$4.08/SF

NOI

$16.2K $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%

$324,020

Cap Rate 7%

$231,443

Cap Rate 9%

$180,011

Alternative Uses

Best Use

Flex RnD

$231.4K

$202.5K – $270.0K (±1% cap)

NOI $16,201 @ 7.0% cap · market cap 4.39%

Second Best

Industrial

$188.8K

$165.2K – $220.3K (±1% cap)

NOI $13,218 @ 7.0% cap · market cap 3.58%

Theoretical Best

Office A

$504.8K

$441.7K – $589.0K (±1% cap)

NOI $35,339 @ 7.0% cap · market cap 9.58%

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

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

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 corner unit combines a loft, service features, and access suited to business operations or vehicle storage.

Where is this flex space located?

The property is located at 1958 Baltic Way Unit E-116 Ferndale, WA.

What is the asking price?

The asking price for this property is $369,000.

What are key features of this property?

This property features: 2,140 total square feet: 1,485‑square‑foot floor plan plus a 655‑square‑foot loft; Corner unit with additional windows; Two overhead doors: 14' x 14' and 9' x 8'