Property Details

2701 NW Ave

Bellingham, WA 98225

$995,000

Available

CBA# 714120 courtesy of CBA Listing firm: RE/MAX Whatcom County, Inc.

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Office / Retail

Property Type

2,435

Bldg Sq Ft

6.00%

Cap Rate

1962

Year Built

Property Overview

Two-story mixed-use triplex on sunny corner lot in sought-after Fountain District oozes with charm and performs at a 6% cap rate! Zoned Urban Village Commercial Transition which allows many redevelopment options – but this is no tear down. Originally built in 1925, all units have been fully updated and maintained by current owners. Commercial suite, remodeled in 2018, has welcoming front reception with 4 separate treatment rooms and a 5th room with sink which could be used for treatments or a break room. Upper level 2-bedroom apartment remodeled in 2025 with new carpet, paint and fixtures. Downstairs apartment remodeled in 2015 with new flooring installed in 2020. Property delivers a 6% cap rate with 2,376 sqft on the interior and a large graveled lot with 12 parking spots. Back patio / grotto is a perfect little secret which owners and staff use as an outdoor break room. Each unit has a bathroom, with upstairs apartment, including a full bathroom with clawfoot tub. Commercial suite has half bath and downstairs apartment has a 3/4 bathroom. Parcel is bigger than it looks as arborvitae hide additional lot square footage. Located within walking distance of popular shops and restaurants. Excellent traffic counts with high visibility retail presence. Owners will carry a partial loan with at least $500K down.