1111 W Holly St
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1111 W Holly St
9,090 SF 100% Leased Office Building Bellingham, WA 98225 $1,950,000 ($215/SF) 5.88% Cap Rate
Executive Summary
Fully leased 9,090 two story office building offered at a 5.8% cap rate, with secure parking garage and wide open views south across Bellingham Bay. 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 heating and cooling in each suite. Recent PSE audit added all LED lights for efficient operation. 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.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Sale Type
Investment
Property Type
Office
Building Size
9,090 SF
Building Class
C
Year Built
1976
Price
$1,950,000
Price Per SF
$215
Cap Rate
5.88%
NOI
$114,660
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,545 SF
Building FAR
0.61
Land Acres
0.34 AC
Zoning
RM/OFF
Parking
27 Spaces (2.97 Spaces per 1,000 SF Leased)
Amenities
- Security System
1 of 1
Walk Score ®
Walker's Paradise (90)
Bike Score ®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 380225-494385-0000 | Improvements Assessment | $707,068 (2023) |
| Land Assessment | $683,316 (2023) | Total Assessment | $1,390,384 (2023) |
PROPERTY TAXES
Parcel Number
380225-494385-0000
Land Assessment
$683,316 (2023)
Improvements Assessment
$707,068 (2023)
Total Assessment
$1,390,384 (2023)
-
Jason Loeb -
Windermere Real Estate
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1111 W Holly St
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