Turn-Key Office or Retail
204 W Holly St Bellingham, WA
For Sale
Contact for pricing
Remodeled office or retail space in a central downtown location.
Property Size4,500 SF
Lot Size0.06 Acres
Price / SF$288.28
Days on Market245
Property Features for 204 W Holly St
General Information
Standard status
Active
Size
4,500 SF
Lot size
0.06 Acres
Property subtype
OFFICE
Listing Agency:
Pacific Continental Realty, LLC
(360) 305-9977
Listed By:
KC Coonc · License #17357
(360) 305-9977
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Jul 6
Last Checked: Jul 21 at 6:22AM
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 4,500-square-foot space is available for sublease and suitable for office or retail use. The building was recently remodeled and features a large kitchenette and ADA-compliant bathrooms. The main floor offers an open layout, complemented by a private office space or open area on the mezzanine level. The property benefits from ample window exposure and natural light. It is centrally located downtown, across from Black Sheep and Camber.
Key Highlights
- Turn‑key space suitable for office or retail.
- Central Downtown location across from Black Sheep and Camber.
- Recently remodeled building.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $101.5k | $22.56 |
| − Vacancy | −$17.6k | −$3.90 |
| EGI | $84.0k | $18.66 |
| − OpEx | −$21.0k | −$4.66 |
| NOI | $63.0k | $13.99 |
4,500 SF · lease $22.56/SF/yr · vacancy 17.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$899.5K
$787.1K – $1.05M
NOI $62,968 @ 7.0% cap · market cap 4.85%
Second Best
Retail
$767.1K
$671.2K – $894.9K
NOI $53,695 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$1.06M
$928.9K – $1.24M
NOI $74,311 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Remodeled office or retail space in a central downtown location.
Where is this office units located?
The property is located at 204 W Holly St Bellingham, WA.
What is the asking price?
The asking price for this property is $1,297,241.
What are key features of this property?
This property features: Turn‑key space suitable for office or retail.; Central Downtown location across from Black Sheep and Camber.; Recently remodeled building.
