Building Details

Year Built 1973

Listing Agency: Windermere RE Whatcom, Inc.

Listed By: Lorrie M. Dujmovich Show Phone

Source: Hanshagmeier

Added: Apr 24 Changed: Oct 1 Last Checked: Oct 7 at 5:02PM

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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 Windermere RE Whatcom, Inc.

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Investment Insights

Based on property information with market context.

This commercial and industrial development property is located on a high-traffic corridor along Guide Meridian (SR 539) in Bellingham, WA. The site includes multiple existing uses: three residential units, a commercial showroom, manufacturing space, and a laydown yard.

The property offers approximately 331 linear feet of frontage on Guide Meridian, providing strong visibility for commercial activity. Ongoing rental income is currently used to help offset holding and carrying costs. Utilities are currently served by septic and community water, with public utilities planned in the near future. Zoning is described as suitable for a wide range of commercial or LI uses, making the site adaptable for prospective redevelopment or continued mixed-use operations.

Key Highlights

• +/-331 linear feet of frontage on Guide Meridian (SR 539) in Bellingham, WA
• Current mix includes 3 residential units, a commercial showroom, manufacturing space, and a laydown yard
• Ongoing rental income is in place to help offset holding and carrying costs

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$158,483

Cap Rate

7.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,169,660 $3.2M

Cap Rate 7%

$2,264,043 $2.3M

Cap Rate 9%

$1,760,922 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,282 SF

Gross rent

$239.1K $18.00/SF

− Vacancy

−$12.7K −$0.95/SF

EGI

$226.4K $17.05/SF

− OpEx

−$67.9K −$5.11/SF

NOI

$158.5K $11.93/SF

Area

Whatcom County, WA

Vacancy

5.30%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,169,660

Cap Rate 7%

$2,264,043

Cap Rate 9%

$1,760,922

Alternative Uses

Best Use

Retail

$2.26M

$1.98M – $2.64M (±1% cap)

NOI $158,483 @ 7.0% cap · market cap 7.92%

Second Best

Industrial

$1.17M

$1.03M – $1.37M (±1% cap)

NOI $82,037 @ 7.0% cap · market cap 4.10%

Theoretical Best

Office A

$3.13M

$2.74M – $3.66M (±1% cap)

NOI $219,333 @ 7.0% cap · market cap 10.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Manufacturing properties

Suggested Use

Top Pick Real Estate Agency Building Supply Law Firm Big Box & Wholesale Store Kitchen & Bath Showroom Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

127

Businesses Nearby

Explore this area Business Placement

Demographics for 98226, WA

47,011

Population

20,609

Households

2.3

Avg Household Size

40

Median Age

40%

College-Educated

95%

High-School Grad

105.8 sq mi

ZIP Area

444

Density / Sq Mi

$79,684

Median Household Income

$45,337

Median Earnings

$1,557

Median Rent

$568,400

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Manufacturing property - Development property with commercial showroom, manufacturing space, and laydown yard plus approximately 331 feet of Guide Meridian frontage.

Where is this manufacturing property located?

The property is located at 4777 Guide Meridian Bellingham, WA.

What is the asking price?

The asking price for this property is $1,999,999.

What are key features of this property?

This property features: +/-331 linear feet of frontage on Guide Meridian (SR 539) in Bellingham, WA; Current mix includes 3 residential units, a commercial showroom, manufacturing space, and a laydown yard; Ongoing rental income is in place to help offset holding and carrying costs