1365 Mahogany Ave Bellingham, WA 98226
This exceptional 9.4-acre industrial land parcel in Bellingham, Washington, presents a unique opportunity for immediate development. Located at 1365 Mahogany Ave, 98226, this property boasts 5.71 usable acres of Planned Industrial zoned land, ideally situated next to a Costco. Significant infrastructure improvements have already been completed, saving the buyer considerable time and expense. The site has been cleared, graded, compacted, and covered with crushed rock, and is connected to the City of Bellingham Regional Stormwater Facility, maximizing usable space. Utilities are readily available, with heavy power, natural gas, city water, and sewer located at the street frontage. Importantly, the property has already undergone extensive and costly entitlement processes, exceeding $1.5 million in investment and several years of effort. This eliminates significant hurdles and allows for expedited construction and occupancy. While the seller owns adjacent commercial property facing Pacific Hwy, this listing focuses solely on the 9.4-acre industrial site, offering a streamlined path to building your next project. The asking price for this fully prepared site is $5,900,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.