Self-Storage Facility with
For Sale
Contact for pricing
720 Sunset Pond Ln, Bellingham, WA 98226
Steel-framed unit in a fenced complex includes a finished interior mezzanine, bathroom, and utility sink.
Property Size2,150 SF
Price / SF$225.58
Days on Market12
Property Features for 720 Sunset Pond Ln
General Information
Standard status
Active
Size
2,150 SF
Property subtype
INDUSTRIAL
Additional Details
Fenced Yard
Yes
Mezzanine
400 SF
Building Details
Construction
steel-framed
Listing Agency:
Windermere - Whatcom Co.
(360) 303-1450
Listed By:
Chet Kenoyer
Source:
Moodyscre
Added: Jul 29
Changed: Aug 2
Last Checked: Aug 8 at 12:37PM
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 - Whatcom Co.
Investment Insights
Based on property information with market context.
This 2,150-square-foot self-storage unit is constructed with a steel frame and includes a finished 400-square-foot mezzanine. The upper-level area has windows, sheetrock, and carpet, while the main space is complemented by a bathroom with a utility sink and hot water. The configuration supports storage, workshop, office, hobby, vehicle, boat, recreational equipment, inventory, or household use as described for the property.
The unit is part of a fenced complex with controlled access at 720 Sunset Pond Ln in Bellingham, Washington. Its combination of substantial storage area, finished auxiliary space, and basic plumbing improvements provides a flexible format for personal or business storage needs.
The unit is part of a fenced complex with controlled access at 720 Sunset Pond Ln in Bellingham, Washington. Its combination of substantial storage area, finished auxiliary space, and basic plumbing improvements provides a flexible format for personal or business storage needs.
Key Highlights
- 2,150 square feet of self‑storage space
- Finished 400 square feet mezzanine with windows, sheetrock, and carpet
- Steel‑framed construction
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
$18,972
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
3.91%
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%
$379,440
$379.4K
Cap Rate 7%
$271,029
$271.0K
Cap Rate 9%
$210,800
$210.8K
Market Conditions
NOI Build-Up for 2,150 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
$28.4K $13.20/SF
− Vacancy
−$1.3K −$0.59/SF
EGI
$27.1K $12.61/SF
− OpEx
−$8.1K −$3.78/SF
NOI
$19.0K $8.82/SF
Area
Whatcom County, WA
Vacancy
4.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$379,440
Cap Rate 7%
$271,029
Cap Rate 9%
$210,800
Alternative Uses
Best Use
Self Storage
$271.0K
$237.2K – $316.2K
NOI $18,972 @ 7.0% cap · market cap 3.91%
Second Best
Warehouse
$230.4K
$201.6K – $268.8K
NOI $16,125 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$507.2K
$443.8K – $591.7K
NOI $35,504 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,345
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Steel-framed unit in a fenced complex includes a finished interior mezzanine, bathroom, and utility sink.
Where is this self storage facility located?
The property is located at 720 Sunset Pond Ln Bellingham, WA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 2,150 square feet of self‑storage space; Finished 400 square feet mezzanine with windows, sheetrock, and carpet; Steel‑framed construction
