1051 State St Bellingham, WA 98225-5011
Property profile & analytics
1051 State St Bellingham, WA 98225-5011
- Turn key restaurants
- 10,875 SF
- 0.19 lot acres
Property ID
US90-1205199
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Story tattoo / Tattoo & Piercing Shop
- Alexia’s Atelier / Hair Salon / Nail Salon
- She Wolf | Rachel Jackson Art Studio / (Bike/Boat/Book/etc) Store
- She Wolf Wild / Clothing & Fashion 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
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,620,000
Market price range: $2.42M - $6.80M
Get a detailed, property-specific estimation — 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
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$13,158
$487,273
$1,205,070
$1,692,343
-
$487,273
$1,205,070
$1,692,343
