Warehouse Condo with Roll-Up
3610 Iron Gate Road Bellingham, WA 98226
For Sale
Contact for pricing
Two warehouse condo units total 3,000 SF, connected internally, each with power, heating/insulation, and roll-up access.
Property Size3,000 SF
Price / SF$213
Days on Market136
Property Features for 3610 Iron Gate Road
General Information
Standard status
Active
Size
3,000 SF
Property subtype
INDUSTRIAL
Listing Agency:
Gage Commercial Real Estate LLC
(360) 303-2608
Listed By:
Tracy Carpenter · License #23452
(360) 303-2608
Source:
Moodyscre
Added: Mar 16
Changed: Jul 28
Last Checked: Jul 29 at 1:02PM
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 Gage Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
Warehouse condo units built in October 2017. The offering includes Units #112 and #113 with interior connection via a man door, providing a combined warehouse/storage configuration. Each unit has heating/insulation and is plumbed for a restroom, with a shared restroom located at the end of the building for the overall complex. Electrical service includes 100-amp three-phase power.
The units include a 16’ wide by 14’ roll-up door. Ceiling height averages 20’. The property also features thickened footings that can accommodate a 25’ x 20’ mezzanine if desired. The complex has an automatic gated security fence with code entry, and parking in front of the unit(s) is exclusive.
Separately metered gas and electricity are provided, supporting independent operations across the condo units. Unit #113 is NNN leased through Nov. 2028, while Unit #112 is currently on a month-to-month lease, creating an opportunity for an owner-user to occupy one unit while maintaining tenancy in the other.
The units include a 16’ wide by 14’ roll-up door. Ceiling height averages 20’. The property also features thickened footings that can accommodate a 25’ x 20’ mezzanine if desired. The complex has an automatic gated security fence with code entry, and parking in front of the unit(s) is exclusive.
Separately metered gas and electricity are provided, supporting independent operations across the condo units. Unit #113 is NNN leased through Nov. 2028, while Unit #112 is currently on a month-to-month lease, creating an opportunity for an owner-user to occupy one unit while maintaining tenancy in the other.
Key Highlights
- Two connected warehouse condo units totaling 3,000 SF (1,500 SF each), with interior man door access between units
- Unit #113 is NNN leased through Nov. 2028; Unit #112 is on an M‑M lease
- Each unit has heating/insulation and 100‑amp three‑phase power, plus plumbing for a restroom; shared restroom at end of building
Financial Insights For Warehouse
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 | $27.0k | $9.00 |
| − Vacancy | −$529 | −$0.18 |
| EGI | $26.5k | $8.82 |
| − OpEx | −$4.0k | −$1.32 |
| NOI | $22.5k | $7.50 |
3,000 SF · lease $9.00/SF/yr · vacancy 1.96% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$321.4K
$281.3K – $375.0K
NOI $22,500 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$707.7K
$619.3K – $825.7K
NOI $49,541 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Bellingham RV Storage — 3820 Hammer Dr, Bellingham, WA 98226
- Storage Solutions — 1082 Telegraph Rd, Bellingham, WA 98226
- Baker Creek Storage — 1621 Baker Creek Pl, Bellingham, WA 98226
- Sunset Storage — 3423 James St, Bellingham, WA 98226
- Storehouse Mini Storage Complex — 3651 Iron Gate Rd, Bellingham, WA 98226
Frequently Asked Questions
What type of property is this?
Warehouse - Two warehouse condo units total 3,000 SF, connected internally, each with power, heating/insulation, and roll-up access.
Where is this warehouse located?
The property is located at 3610 Iron Gate Road Bellingham, WA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Two connected warehouse condo units totaling 3,000 SF (1,500 SF each), with interior man door access between units; Unit #113 is NNN leased through Nov. 2028; Unit #112 is on an M‑M lease; Each unit has heating/insulation and 100‑amp three‑phase power, plus plumbing for a restroom; shared restroom at end of building
