Flex Space with
1985 Alpine Way # 12, Bellingham, WA 98226
For Sale
$349,950
Two-level commercial workspace with a kitchenette, half bathroom, utility service, and shipping access.
Property Size2,400 SF
Price / SF$145.81
Days on Market353
Property Features for 1985 Alpine Way # 12
General Information
Standard status
Size
Property subtype
Warehouse & Industrial
Mezzanine
Power
Three-Phase Power
Sprinkler System
Additional Details
Highway Access
Taxes and HOA fees
Annual Taxes
Amenities
Kitchenette
Hot water
Half bathroom
Separate storage closet with locks
Concrete,Carpet
Yes
No
Electric,Natural Gas
Public
Metal/Vinyl,Stone
Poured Concrete,Slab
Building Details
Year Built
Listing Agency:
John L. Scott, Inc
(425) 227-9200
Listed By:
Curtis Dupart
(206) 250-9311
Source:
Premierepropertygroup
Added: Nov 21, 2025
Changed: Nov 6
Last Checked: Nov 8 at 4:33AM
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 John L. Scott, Inc
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Investment Insights
Based on property information with market context.
This 2,400-square-foot flex space combines 1,800 square feet on the main floor with a 600-square-foot mezzanine or loft. The layout includes a kitchenette, hot water, a half bathroom, a separate lockable storage closet, mobile work bench, and additional racks. Concrete and carpet finishes, a poured-concrete slab, and metal/vinyl and stone exterior materials are also noted. Building systems include 100-amp 3-phase power, natural gas, and a sprinkler system.
The property offers year-round access and an 18-foot-wide door configuration for shipping and receiving. Access to the Bakerview Spur provides multiple approaches to the property. Constructed in 2007, the space is located at 1985 Alpine Way #12 in Bellingham, Washington.
The property offers year-round access and an 18-foot-wide door configuration for shipping and receiving. Access to the Bakerview Spur provides multiple approaches to the property. Constructed in 2007, the space is located at 1985 Alpine Way #12 in Bellingham, Washington.
Key Highlights
- 2,400 square feet with 1,800‑square‑foot main floor and 600‑square‑foot mezzanine/loft
- 18 ft wide doors support shipping and receiving
- 100amp 3‑phase power, natural gas, and sprinkler system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,170
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$363,400
$363.4K
Cap Rate 7%
$259,571
$259.6K
Cap Rate 9%
$201,889
$201.9K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$28.5K $11.88/SF
− Vacancy
−$559 −$0.23/SF
EGI
$28.0K $11.65/SF
− OpEx
−$9.8K −$4.08/SF
NOI
$18.2K $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%
$363,400
Cap Rate 7%
$259,571
Cap Rate 9%
$201,889
Alternative Uses
Best Use
Flex RnD
$259.6K
$227.1K – $302.8K
NOI $18,170 @ 7.0% cap · market cap 5.19%
Second Best
Warehouse
$257.1K
$225.0K – $300.0K
NOI $18,000 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$566.2K
$495.4K – $660.5K
NOI $39,632 @ 7.0% cap · market cap 11.33%
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
Lease Details
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
502
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Flex space in Whatcom County
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- All City Catering — 3620 Iron Gate Rd, Bellingham, WA 98226
- The Kitchen — 2185 Alpine Way A, Bellingham, WA 98226
- Off Grid Food Company — 2185 Alpine Way, Bellingham, WA 98226
Frequently Asked Questions
What type of property is this?
Flex space - Two-level commercial workspace with a kitchenette, half bathroom, utility service, and shipping access.
Where is this flex space located?
The property is located at 1985 Alpine Way # 12 Bellingham, WA.
What is the asking price?
The asking price for this property is $349,950.
What are key features of this property?
This property features: 2,400 square feet with 1,800‑square‑foot main floor and 600‑square‑foot mezzanine/loft; 18 ft wide doors support shipping and receiving; 100amp 3‑phase power, natural gas, and sprinkler system
