Flex Space with
For Sale
Contact for pricing
2794 Peace Portal Dr, Blaine, WA 98230
Highway Commercial zoning and a transferable Washington State liquor and cannabis processors license support varied business uses.
Property Size1,172 SF
Price / SF$255.55
Days on Market23
Property Features for 2794 Peace Portal Dr
General Information
Standard status
Active
Size
1,172 SF
Property subtype
INDUSTRIAL
Zoning
Highway Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Mezzanine
263 SF
Power
100 amps
Three-Phase Power
Yes
Additional Details
Land Use
light industrial
Listing Agency:
Pacific Continental Realty, LLC
(360) 739-7898
Listed By:
Pete Wasley
(360) 739-7898
Source:
Moodyscre
Added: Aug 7
Changed: Aug 29
Last Checked: Aug 29 at 3:05PM
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 newly constructed flex condominium contains 1,172 square feet, with 909 square feet on the main level and a 263-square-foot mezzanine. The layout includes a main-floor restroom, a mezzanine bathroom with shower, and 3-phase 100-amp electrical service. The unit may be acquired with or without the Washington State Liquor and Cannabis Processors license, which is ready for transfer and accompanies an already permitted location.
Located at 2794 Peace Portal Drive in Blaine, the property offers direct connectivity to the I-5 corridor, including a northbound exit and southbound entrance near the site. Highway Commercial zoning allows many acceptable business uses, providing flexibility for an owner-user or operator.
Located at 2794 Peace Portal Drive in Blaine, the property offers direct connectivity to the I-5 corridor, including a northbound exit and southbound entrance near the site. Highway Commercial zoning allows many acceptable business uses, providing flexibility for an owner-user or operator.
Key Highlights
- 1,172 SF flex condominium with 909 SF main floor and 263 SF mezzanine
- Washington State Liquor and Cannabis Processors license ready for sale and immediate transfer
- Already permitted location
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
2.96%
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 2.96%
Second Best
Industrial
$103.4K
$90.5K – $120.7K
NOI $7,239 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$276.5K
$241.9K – $322.6K
NOI $19,354 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
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
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 - Highway Commercial zoning and a transferable Washington State liquor and cannabis processors license support varied business uses.
Where is this flex space located?
The property is located at 2794 Peace Portal Dr Blaine, WA.
What is the asking price?
The asking price for this property is $299,500.
What are key features of this property?
This property features: 1,172 SF flex condominium with 909 SF main floor and 263 SF mezzanine; Washington State Liquor and Cannabis Processors license ready for sale and immediate transfer; Already permitted location
