Warehouse Condo with Roll-Up
3610 Iron Gate Road #113 Bellingham, WA 98226
For Sale
$319,500
Warehouse condo in a gated complex with exclusive front parking, restroom plumbing, and three-phase power.
Property Size1,500 SF
Price / SF$213
Days on Market135
Property Features for 3610 Iron Gate Road #113
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Commercial
Building Details
Year Built
2017
Listing Agency:
Gage CRE
(360) 483-0508
Listed By:
Tracy Carpenter · License #23452
(360) 483-0508
Source:
Multifamilyspecialist
Added: Mar 17
Changed: Jul 29
Last Checked: Jul 29 at 2:16PM
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 CRE
Investment Insights
Based on property information with market context.
This warehouse condo unit offers 1,500 SF of warehouse/storage space with heating/insulation and plumbing for a restroom. A shared restroom is located at the end of the building and is shared with the entire building. The unit includes 100-amp three-phase power and is set up with a thickened footing sized to accommodate a 25' x 20' mezzanine if desired.
The unit features a 16' wide by 14' roll-up door and provides approximately 20' average ceiling height within a 30' wide by 50' deep space. Built in October 2017, the condo also includes exclusive parking in front of the unit(s). The complex entry has a gated automatic security fence with code, and gas and electricity are separately metered.
For investors, the unit is under an NNN lease through Nov. 2028.
The unit features a 16' wide by 14' roll-up door and provides approximately 20' average ceiling height within a 30' wide by 50' deep space. Built in October 2017, the condo also includes exclusive parking in front of the unit(s). The complex entry has a gated automatic security fence with code, and gas and electricity are separately metered.
For investors, the unit is under an NNN lease through Nov. 2028.
Key Highlights
- NNN lease through Nov. 2028
- 1,500 SF warehouse/storage space with heating and plumbing for a restroom
- 16' wide by 14' roll‑up door plus 20' average ceiling height
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 | $13.5k | $9.00 |
| − Vacancy | −$265 | −$0.18 |
| EGI | $13.2k | $8.82 |
| − OpEx | −$2.0k | −$1.32 |
| NOI | $11.3k | $7.50 |
1,500 SF · lease $9.00/SF/yr · vacancy 1.96% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$160.7K
$140.6K – $187.5K
NOI $11,250 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$353.9K
$309.6K – $412.8K
NOI $24,770 @ 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 - Warehouse condo in a gated complex with exclusive front parking, restroom plumbing, and three-phase power.
Where is this warehouse located?
The property is located at 3610 Iron Gate Road #113 Bellingham, WA.
What is the asking price?
The asking price for this property is $319,500.
What are key features of this property?
This property features: NNN lease through Nov. 2028; 1,500 SF warehouse/storage space with heating and plumbing for a restroom; 16' wide by 14' roll‑up door plus 20' average ceiling height
