Light Industrial Condo
For Sale
$259,900
2756 Peace Portal Dr, Blaine, WA 98223
Newly under-construction light industrial condo features a main level and mezzanine with 3-phase 100-amp service.
Property Size1,172 SF
Price / SF$221.76
Days on Market68
Property Features for 2756 Peace Portal Dr
General Information
Standard status
Active
Size
1,172 SF
Additional Details
Highway Access
Yes
Heavy Power
Yes
Building Details
Year Built
2026
Listing Agency:
Pacific Continental Realty LLC
Listed By:
Pete Wasley
(360) 739-7898
Source:
Lincolnpnwteam
Added: Jul 3
Changed: Sep 8
Last Checked: Sep 7 at 12:02PM
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.
Newly under construction light industrial condo unit in Building C, part of a broader light industrial condo project. The unit is configured with main floor space plus a mezzanine, including a main floor restroom. Suites are wired with 3-phase 100-amp service, designed to support small business and contractor-type operations.
The project is positioned in the Peace Portal Way area of Blaine with direct access to the I-5 corridor, including an offramp to the north and an onramp to the south located at the property.
Building C represents the final phase of the project, with scheduled completion in August 2026.
The project is positioned in the Peace Portal Way area of Blaine with direct access to the I-5 corridor, including an offramp to the north and an onramp to the south located at the property.
Building C represents the final phase of the project, with scheduled completion in August 2026.
Key Highlights
- Brand new light industrial condos under construction in Blaine (Building C, last phase).
- 1172 SF unit layout with 909 SF main floor and 263 SF mezzanine, including a main‑floor restroom.
- Each suite is wired with 3‑phase 100‑amp electrical service.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,873
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$177,460
$177.5K
Cap Rate 7%
$126,757
$126.8K
Cap Rate 9%
$98,589
$98.6K
Market Conditions
NOI Build-Up for 1,172 SF
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.
Gross rent
$13.9K $11.88/SF
− Vacancy
−$273 −$0.23/SF
EGI
$13.7K $11.65/SF
− OpEx
−$4.8K −$4.08/SF
NOI
$8.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$177,460
Cap Rate 7%
$126,757
Cap Rate 9%
$98,589
Alternative Uses
Best Use
Flex RnD
$126.8K
$110.9K – $147.9K
NOI $8,873 @ 7.0% cap · market cap 3.41%
Second Best
Industrial
$103.4K
$90.5K – $120.7K
NOI $7,239 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$276.5K
$241.9K – $322.6K
NOI $19,354 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98223, WA
45,139
Population
18,224
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
316.2 sq mi
ZIP Area
143
Density / Sq Mi
$96,478
Median Household Income
$52,487
Median Earnings
$1,780
Median Rent
$556,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Newly under-construction light industrial condo features a main level and mezzanine with 3-phase 100-amp service.
Where is this flex space located?
The property is located at 2756 Peace Portal Dr Blaine, WA.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Brand new light industrial condos under construction in Blaine (Building C, last phase).; 1172 SF unit layout with 909 SF main floor and 263 SF mezzanine, including a main‑floor restroom.; Each suite is wired with 3‑phase 100‑amp electrical service.
