1111 W Holly Street, Bellingham, WA 98225
- $1,950,000
Listing courtesy of Windermere Real Estate Whatcom.
- List Price
- $1,950,000
- Status
- ACTIVE
- MLS#
- 2044549
- Price Change
- ▼ $100,000 1710405913
- Days on Market
- 424
- Internet Provider
- Comcast
Property Description
Fully leased 9,090 two story office building with secure parking garage and wide open views south across Bellingham Bay offered at 5.8% cap rate. This office building has been cared for by an attentive owner and is in terrific condition with newer paint, membrane roof, extensive interior remodeling and independent HVAC in each suite. Recent PSE audit added all LED lights for efficiency. Tenant mix is a very good cross section providing insulation against shifting market conditions. Building enjoys 27 total parking spaces, 18 of which are in the secured parking garage, along with several parking spaces on the street. The location of this building cannot be beat given its proximity to downtown, the waterfront and the core neighborhoods.
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Additional Information
- Community
- Downtown
- Building Condition
- Good
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 1979
- # of Assigned Spaces
- 27
- Roof
- See Remarks
- Tax Year
- 2022
- Potential Terms
- Cash Out, Conventional
- Interior Features
- Wall to Wall Carpet
- Flooring
- Carpet
- Driving Directions
- Northbound I-5 exit 253 head W on Lakeway Drive, continue on to W Holly Street, Building is 1.5 miles from I-5 on the S side of W. Holly Street.
- Other Expenses
- 27391
- Energy Source
- Electric
- Buyer Agency Compensation
- 2.5
- Net Operating Income
- $113,132
- Gross Scheduled Income
- $140,523
- Cap Rate
- 5.8
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