Brand New Industrial
For Sale
$899,900
8580 Portal, Blaine, WA 98230
New 3,500 SF warehouse with thick-pour concrete floors, four 14-foot doors, insulation, lighting, and 3-phase power.
Property Size3,500 SF
Price / SF$257.11
Days on Market72
Property Features for 8580 Portal
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Commercial
Zoning
Gateway Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Heavy Power
Yes
Building Details
Year Built
2026
Construction
pole frame
Listing Agency:
RE/MAX Whatcom County,Inc.
(800) 723-1313
Listed By:
Rob C. Merhaut · License #8258
(425) 205-2135
Source:
Skylineproperties
Added: Jun 15
Changed: Aug 23
Last Checked: Aug 24 at 6:47AM
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 RE/MAX Whatcom County,Inc.
Investment Insights
Based on property information with market context.
This brand new industrial warehouse is being offered for your use and features pole frame construction with thick-pour concrete floors. The building includes a bathroom, installed power, insulation, and lighting, along with four 14-foot doors and all-season access.
The property is located off Portal Way just north of Loomis Trail, with freeway (I-5) frontage. The Beacon Short Plat is described as having adequate water for potable needs and fire-flow, and includes two 60,000-gallon water tanks on the grounds.
Per the owners, the site is designated for “Gateway Industrial” use zoning, which they state allows for a variety of uses. Each parcel has an approved and installed septic system.
The property is located off Portal Way just north of Loomis Trail, with freeway (I-5) frontage. The Beacon Short Plat is described as having adequate water for potable needs and fire-flow, and includes two 60,000-gallon water tanks on the grounds.
Per the owners, the site is designated for “Gateway Industrial” use zoning, which they state allows for a variety of uses. Each parcel has an approved and installed septic system.
Key Highlights
- Brand new 3,500 SF warehouse building ready for use with thick‑pour concrete floors
- Pole frame construction with insulation and lighting, plus a bathroom in the building
- Four 14‑foot doors and all‑season access for efficient loading and year‑round use
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
$26,250
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
2.92%
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%
$525,000
$525.0K
Cap Rate 7%
$375,000
$375.0K
Cap Rate 9%
$291,667
$291.7K
Market Conditions
NOI Build-Up for 3,500 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
$31.5K $9.00/SF
− Vacancy
−$617 −$0.18/SF
EGI
$30.9K $8.82/SF
− OpEx
−$4.6K −$1.32/SF
NOI
$26.3K $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 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%
$525,000
Cap Rate 7%
$375,000
Cap Rate 9%
$291,667
Alternative Uses
Best Use
Warehouse
$375.0K
$328.1K – $437.5K
NOI $26,250 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$825.7K
$722.5K – $963.3K
NOI $57,797 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98230, WA
18,754
Population
9,395
Households
2
Avg Household Size
48
Median Age
32%
College-Educated
95%
High-School Grad
42.5 sq mi
ZIP Area
441
Density / Sq Mi
$82,716
Median Household Income
$45,603
Median Earnings
$1,255
Median Rent
$467,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - New 3,500 SF warehouse with thick-pour concrete floors, four 14-foot doors, insulation, lighting, and 3-phase power.
Where is this warehouse located?
The property is located at 8580 Portal Blaine, WA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Brand new 3,500 SF warehouse building ready for use with thick‑pour concrete floors; Pole frame construction with insulation and lighting, plus a bathroom in the building; Four 14‑foot doors and all‑season access for efficient loading and year‑round use
