1051 State St, Bellingham, WA 98225-5011

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.