119 N Commercial St | Bellingham, WA 98225
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- LoopNet Team
119 N Commercial St
Bellingham, WA 98225
Bellingham Towers · Office Property For Sale
Investment Highlights
- Centrally located at the core of Downtown Bellingham, and at 15-stories, the Bellingham Towers is the tallest and most prominent building in the city
- Lease rates for comparable office buildings in Downtown Bellingham range from $21 - $27/sf. The avg rent for Bellingham Towers is approximately $22/sf
- Situated in Bellingham’s Downtown District Opportunity Zone, which provides an investor significant tax benefits if purchasing the asset via a QOF
- Due to a renovation project of the 7th floor, the building is currently experiencing a lower than normal occupancy, creating investor up-side
- The property provides significant and steady cash flow in addition to significant development potential on the surface parking lot and parking garage
- Within the last 6 years, over $1.8 million of improvements have been made to the property
PROPERTY FACTS
Property Type
Office
Property Subtype
Building Size
86,945 SF
Building Class
B
Year Built
1930
Tenancy
Multiple
Building Height
15 Stories
Typical Floor Size
5,796 SF
Building FAR
2.17
Lot Size
0.92 AC
Zoning
Commercial Core - Commercial Cotr
Parking
103 Spaces (1.18 Spaces per 1,000 SF Leased)
Amenities
- Property Manager on Site
- Restaurant
- Bicycle Storage
- Central Heating
- Natural Light
- Secure Storage
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 380330-185218-0000 | Improvements Assessment | $10,407,130 |
| Land Assessment | $1,425,195 | Total Assessment | $11,832,325 |
PROPERTY TAXES
Parcel Number
380330-185218-0000
Land Assessment
$1,425,195
Improvements Assessment
$10,407,130
Total Assessment
$11,832,325
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