Property Details

1318 McKenzie Ave

Bellingham, WA 98225

$3,433,015

Available

CBA# 693870 courtesy of CBA Listing firm: John L. Scott – Bellingham

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I’d like more information about 1318 McKenzie Ave, Bellingham, MLS# 693870

Office / Retail

Property Type

19,820

Bldg Sq Ft

Units

8.00%

Cap Rate

1891

Year Built

Property Overview

Huge price reduction gives you a true 8% Cap Rate based on actual #s. This reflects the single unit currently vacant plus we deducted an additional 5% vacancy rate on top of that just to keep the underwriters happy. Or, you can assume the underlying mortgage (approx $1.28M) at 4.125% FIXED for the next 5 years. That is cheap money! Don't miss this chance to own a piece of historic downtown Fairhaven. 8 street-level commercial/retail condos split between the Waldron & Young Buildings encompassing Finnegan's Alley. Multiple addresses. 91.5% occupied. Total 19,820 sq feet with 14,275 rentable. All leases include escalations and are NNN. All #s are actual, not pro-forma. 8% cap rate. View units with discretion only. Do not disturb tenants. Sale also includes some underground parking rights.