2833 Meridian Street, Bellingham, WA 98225

$665,000

Listing courtesy of Windermere Real Estate Whatcom. Selling Office: Preview Properties NW LLC.

Sold Price
$665,000
List Price
$685,000
Status
SOLD
MLS#
1846163
Closing Date
Jun 24, 2022
Days on Market
208
Annual Tax Ammount
3300

Property Description

Here is your golden opportunity to own a iconic commercial building on a busy corner in the Fountain District Urban Village. This building is well maintained and surrounded by other thriving businesses. Decades ago, this was the Budget Sewing store and since 2012, it was a beauty salon. However, it is truly an ideal location for any business included in the zoning for Urban Village. There is also a basement which is currently used for storage, but could easily be a wine cellar or brewing area for beer. There is only one permanent wall which runs East and West as this was originally 2 separate stores, and there are 6 off-street parking spaces. The windows, furnace and heat pump, lights and roof have al been replaced within the last 6 years.

Additional Information

Community
Cornwall Park
Building Condition
Very Good
Style
60 - Comm Bldg Und 10K
Year Built
1925
# of Assigned Spaces
6
Roof
Flat
Tax Year
2021
Potential Terms
Cash Out, Conventional
Interior Features
Forced Air, Heat Pump, Concrete, Laminate Hardwood
Flooring
Concrete, Laminate
Driving Directions
On the SW corner of Illinois St and Meridian St across from Haggen.
Energy Source
Electric, Natural Gas
Net Operating Income
$14,957
Gross Adjusted Income
$24,060
Gross Scheduled Income
$24,060
Water/Sewer/Garbage Expenses
$3,857
Cap Rate
2
Total Expenses
$9,103
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