Industrial Building with Drive-In
5500 Nordic Way, Ferndale, WA 98248
For Sale
$3,600,000
Heated warehouse bays and dedicated office space accompany three-phase electrical service.
Property Size26,000 SF
Lot Size3.10 Acres
Price / SF$138.46
Days on Market265
Property Features for 5500 Nordic Way
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Highway Access
Outdoor Storage
Warehouse & Industrial
Clear Height
Office Build-Out
Power
Voltage
Three-Phase Power
Heavy Power
Sprinkler System
Building Details
Year Built
Buildings
Building Size
Listing Agency:
Muljat Group
Listed By:
Mike Bredeson
(360) 733-3030
Source:
Lapishomesre
Added: Feb 17
Changed: Nov 8
Last Checked: Nov 7 at 5:43PM
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
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Investment Insights
Based on property information with market context.
At 5500 Nordic Way in Ferndale, this industrial property includes a 26,000-square-foot building on 3.1 acres. The warehouse has 18-foot clear-span height, heated bays, multiple grade-level drive-in doors and a fire suppression system. A dedicated 1,500-square-foot office area is part of the building, which is served by 480V three-phase power at 1,600 amps. The improved site also accommodates truck circulation, equipment staging and outdoor storage.
The property offers access to I-5 and is situated between Seattle and Vancouver, B.C. Its Washington State Department of Ecology Sand and Gravel General Permit coverage, WAG507227, is effective April 1, 2026, through March 31, 2031, and may transfer with Ecology approval.
The property offers access to I-5 and is situated between Seattle and Vancouver, B.C. Its Washington State Department of Ecology Sand and Gravel General Permit coverage, WAG507227, is effective April 1, 2026, through March 31, 2031, and may transfer with Ecology approval.
Key Highlights
- 3.1‑acre improved industrial site
- 26,000 SF building with 18' clear‑span height
- Multiple grade‑level drive‑in doors and heated warehouse bays
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$195,002
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,900,040
$3.9M
Cap Rate 7%
$2,785,743
$2.8M
Cap Rate 9%
$2,166,689
$2.2M
Market Conditions
NOI Build-Up for 26,000 SF
Gross rent
$234.0K $9.00/SF
− Vacancy
−$4.6K −$0.18/SF
EGI
$229.4K $8.82/SF
− OpEx
−$34.4K −$1.32/SF
NOI
$195.0K $7.50/SF
Area
Whatcom County, WA
Vacancy
1.96%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,900,040
Cap Rate 7%
$2,785,743
Cap Rate 9%
$2,166,689
Alternative Uses
Best Use
Warehouse
$2.79M
$2.44M – $3.25M
NOI $195,002 @ 7.0% cap · market cap 5.42%
Second Best
Industrial
$2.29M
$2.01M – $2.68M
NOI $160,590 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$6.13M
$5.37M – $7.16M
NOI $429,352 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
18 ft
Clear height
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Explore this area
Business Placement
Demographics for 98248, WA
26,784
Population
10,576
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
93%
High-School Grad
71.8 sq mi
ZIP Area
373
Density / Sq Mi
$88,566
Median Household Income
$50,059
Median Earnings
$1,455
Median Rent
$550,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Industrial properties in Whatcom County, WA
Properties on Market for Industrial properties in Whatcom County
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Industrial property - Heated warehouse bays and dedicated office space accompany three-phase electrical service.
Where is this industrial property located?
The property is located at 5500 Nordic Way Ferndale, WA.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 3.1‑acre improved industrial site; 26,000 SF building with 18' clear‑span height; Multiple grade‑level drive‑in doors and heated warehouse bays
