Storage Warehouse
For Sale
$239,000
2762 Peace Portal Dr Unit E127, Blaine, WA 98230
Enclosed mezzanine and main-level bathroom support organized storage, hobbies, equipment, or workspace needs.
Property Size1,093 SF
Price / SF$218.66
Days on Market11
Property Features for 2762 Peace Portal Dr Unit E127
General Information
Standard status
Active
Size
1,093 SF
Property subtype
Commercial
Amenities
bathroom
Building Details
Year Built
2020
Listing Agency:
Muljat Group
Listed By:
Rod L. Blankers
(360) 354-4242
Source:
Handrisrealty
Added: Sep 12
Changed: Sep 17
Last Checked: Sep 21 at 7:15AM
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 Muljat Group
Investment Insights
Based on property information with market context.
Built in 2020, this storage condo offers 1,093 square feet of functional interior space at 2762 Peace Portal Dr, Unit E127, in Blaine. The layout includes an enclosed upstairs mezzanine that expands the usable area for office, workspace, or storage functions, along with a bathroom on the main level.
The property is suited to storage, hobbies, equipment, and recreational items, with a configuration that can accommodate both organized storage and work-oriented use. Its warehouse-style format provides a dedicated space for personal or operational needs.
The property is suited to storage, hobbies, equipment, and recreational items, with a configuration that can accommodate both organized storage and work-oriented use. Its warehouse-style format provides a dedicated space for personal or operational needs.
Key Highlights
- 1,093‑square‑foot storage condo in Blaine
- Enclosed upstairs mezzanine adds office, workspace, or storage area
- Main‑level bathroom included
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
$8,275
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
3.46%
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%
$165,500
$165.5K
Cap Rate 7%
$118,214
$118.2K
Cap Rate 9%
$91,944
$91.9K
Market Conditions
NOI Build-Up for 1,093 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
$13.0K $11.88/SF
− Vacancy
−$255 −$0.23/SF
EGI
$12.7K $11.65/SF
− OpEx
−$4.5K −$4.08/SF
NOI
$8.3K $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%
$165,500
Cap Rate 7%
$118,214
Cap Rate 9%
$91,944
Alternative Uses
Best Use
Flex RnD
$118.2K
$103.4K – $137.9K
NOI $8,275 @ 7.0% cap · market cap 3.46%
Second Best
Warehouse
$117.1K
$102.5K – $136.6K
NOI $8,198 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$257.8K
$225.6K – $300.8K
NOI $18,049 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98230, WA
18,754
Population
9,395
Households
2
Avg Household Size
48
Median Age
32%
College-Educated
95%
High-School Grad
42.5 sq mi
ZIP Area
441
Density / Sq Mi
$82,716
Median Household Income
$45,603
Median Earnings
$1,255
Median Rent
$467,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Similar Off Market Nearby
- Drayton Harbor Mini Storage — 8870 Blaine Rd, Blaine, WA 98230
Frequently Asked Questions
What type of property is this?
Warehouse - Enclosed mezzanine and main-level bathroom support organized storage, hobbies, equipment, or workspace needs.
Where is this warehouse located?
The property is located at 2762 Peace Portal Dr Unit E127 Blaine, WA.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 1,093‑square‑foot storage condo in Blaine; Enclosed upstairs mezzanine adds office, workspace, or storage area; Main‑level bathroom included
