1051 State StBellingham, WA 98225

Property Details for 1051 State St

Year built

1903

Lot size

0.19 AC

Property size (Sq ft)

10,875 SF

Zone code

CC

Property type

Retail properties

Property subtype

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.

Location Insight

City

Bellingham

County

Whatcom

State

Washington

Latitude

48.7463

Longitude

-122.481

CBSA code

13380

CBSA name

BELLINGHAM, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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