Turn-Key Office or Retail
For Sale
Contact for pricing
204 W Holly St, Bellingham, WA
Remodeled office or retail space in a central downtown location.
Property Size4,500 SF
Lot Size0.06 Acres
Price / SF$288.28
Days on Market327
Property Features for 204 W Holly St
General Information
Standard status
Active
Size
4,500 SF
Lot size
0.06 Acres
Property subtype
OFFICE
Lease Type
NNN
Properties For Sale
at 204 W Holly St
Downtown Bellingham Retail & Office
AVAILABLE
Size
4,500 SF
Type
OFFICE
Lease Type
NNN
Sublease
Yes
Sublease.
Beautiful, turn-key space perfect for office or retail. Building was remodeled recently and has a large kitchenette and ADA bathrooms. Main floor is mostly open with private office space/open space on mezzanine level. Great window exposure, lots of light, bring your ideas! Central location Downtown across from Black Sheep and Camber!
Contact us
Listing Agency:
Pacific Continental Realty, LLC
(360) 671-4200
Listed By:
KC Coonc · License #17357
(360) 305-9977
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Oct 14
Last Checked: Oct 16 at 11:35AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$62,968
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,259,360
$1.3M
Cap Rate 7%
$899,543
$899.5K
Cap Rate 9%
$699,644
$699.6K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$101.5K $22.56/SF
− Vacancy
−$17.6K −$3.90/SF
EGI
$84.0K $18.66/SF
− OpEx
−$21.0K −$4.66/SF
NOI
$63.0K $13.99/SF
Area
Whatcom County, WA
Vacancy
17.30%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,259,360
Cap Rate 7%
$899,543
Cap Rate 9%
$699,644
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,548
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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.
