164 Smith Rd Bellingham, WA 98226
- Industrial properties
- 33,310 SF
- 12.04 lot acres
Current Use by Public Records
- Specified Fittings / Manufacturer / Pipe Supplier
Property Details for 164 Smith Rd
- Year built
- 1970
- Lot size
- 12.04 lot acres
- Property size
- 33,310 SF
- Zone code
- RIM
- Property type
- Industrial properties
- APN
- 390225 459079 0000
- APU
- 3902254590790000
Description
This exceptional industrial property, located at 164 W Smith Rd, Bellingham, WA 98226, presents a compelling investment opportunity. The 33,804 square foot warehouse and manufacturing facility sits on a spacious 12.04-acre lot, offering ample space for operations and expansion. The property boasts a strategic location, centrally positioned between Bellingham, Ferndale, and Lynden, providing easy access to the Canadian border and Interstate 5 via SR539. The property features a blend of industrial/shop space and recently renovated office space (completed in 2023). Extensive exterior storage, including silo storage, and a large yard area further enhance its functionality. Currently operating under a new 5-year NNN lease with a 100% occupancy rate, this stabilized investment generates a strong NOI of $261,413, resulting in an attractive 6.54% cap rate. The asking price is $4,000,000, translating to $118.33 per square foot. The property is zoned Rural Industrial and Manufacturing by Whatcom County, offering flexibility for various industrial uses. Built in phases (1970 and 1990), this property benefits from recent upgrades and a long-term lease, making it an ideal addition to any investment portfolio. APN: 3902254590790000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $830,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $995,000
- 6.5%
- $1,130,000
- 7%
- $1,070,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,225,000
- Geo Method
- $1,065,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,195,000
- Retail
- $1,210,000
- Mixed-Use
- $1,095,000
- Hospitality
- $1,215,000
- Educational
- $1,145,000
- Residential Income
- $1,045,000
- Energy
- $1,150,000
- Income-Based Land
- $1,140,000
- Food Service
- $945,000
Location Insight
- Map
- Local Demand
- City
- Bellingham
- County
- Whatcom
- State
- Washington
- Longitude
- -122.489
- Latitude
- 48.8354
- CBSA code
- 13380
- CBSA name
- BELLINGHAM, WA METROPOLITAN STATISTICAL AREA
