Property Details
1232 N State Street
Bellingham, WA 98225
$1,650,000
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Property Overview
Prime Downtown Bellingham Investment and Future Development Opportunity LAG # Rare offering in the heart of downtown Bellingham. 5,500 SF fully occupied, 2-tenant building located within the downtown urban village zoning and within a designated Opportunity Zone. Current NOI reflects an 8% CAP. Anchor tenants IKI Izakaya Bar and Accomplice are part of the strongest retail block of Bellingham! Other businesses include Old World Deli, The Racket, GreenHouse, Buffalo Exchange, Makeworth Coffee, Pedino, Bry’s Kitchen and Rock & Rye.
Property Details
Property Information
Property Type
Commercial Sale
Subtype
Commercial Industrial
Status
Active
County
Whatcom
Neighborhood
Downtown
Listed
May 14, 2026
Financial Summary
Net Operating Income
$132,000
Total Actual Rent
$11,000/mo
Building & Use
Building Sq Ft
5,500
Total Units
2
Sq Ft Rented
5,500
Zoning
Commercial
Possible Use
Commercial
Lot Size
10,454 sqft
Year Built
1894
Exterior & Lot
Lot Size
0.24 sqft
Year Built
1894
Location
City
Bellingham
County
Whatcom
Coordinates
48.74778, -122.47743
Additional Information
Possession
Array
Based on information submitted to the MLS GRID as of May 14, 2026 11:45 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
