1051 State St Bellingham, WA 98225-5011
- Turn key restaurants
- 10,875 SF
- 0.19 lot acres
Current Use by Public Records
- Story tattoo / Tattoo Shop
- Alexia’s Atelier / Beautician / Health And Beauty Shop
- She Wolf | Rachel Jackson Art Studio / Jewelry Designer / Artist
- She Wolf Wild / Women'S Clothing Store
Property Details for 1051 State St
- Year built
- 1903
- Lot size
- 0.19 lot acres
- Property size
- 10,875 SF
- Zone code
- CC
- Property type
- Turn key restaurants
- APN
- 380330 132001 0000
- APU
- 3803301320010000
Description
This exceptional Bellingham, WA investment opportunity presents a three-building retail complex at 1051, 1053, and 1055 N. State St., totaling 13,377 square feet on an 8,286 square foot lot (APN 3803301320010000). The property boasts a 7.00% cap rate and a strong pro-forma NOI of $195,942, with an asking price of $2,800,000 ($196/sq ft). Built in 1903, this three-story building (permitted zoning CC) is currently 100% occupied. The diverse tenant mix includes a well-established restaurant (with equipment and recipes included), a tattoo parlor with rentable professional rooms, and a brewery and tasting room in the basement. Six residential units on the upper floor maintain 0% vacancy. The property benefits from its prime location in a historic, walkable downtown neighborhood with ample street parking nearby. The well-maintained building offers potential for future rent increases, and the south alley portion of the parcel presents additional development possibilities. This turn-key operation presents a rare opportunity to acquire a high-performing, mixed-use property in a thriving Washington State market.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $445,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Bellingham
- County
- Whatcom
- State
- Washington
- Longitude
- -122.481
- Latitude
- 48.7463
- CBSA code
- 13380
- CBSA name
- BELLINGHAM, WA METROPOLITAN STATISTICAL AREA
