Property Details

851 Coho Way

Bellingham, WA 98225

$11,385,000

Off Market

CBA# 708261 courtesy of CBA Listing firm: Pacific Continental Realty, LLC

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Office / Retail

Property Type

47,508

Bldg Sq Ft

1991

Year Built

Property Overview

Easy $70k net revenue per month. The Marina Building sits proudly on the corner of Coho Way and Roeder Ave within the Port of Bellingham’s Marina District. Actual cap rate is 7.5%, with a strong mix of regional and local tenants. 1st floor is anchored by LFS retail sales serving the marine industry, with the 2nd and 3rd floor as Class A office with secure entry served by an elevator. This 47k plus sq ft, fully sprinkled building has been meticulously upgraded and maintained with a tenant occupancy average of 9 years. Building is situated on a landlord favorable Port of Bellingham Land Lease with 36 years remaining. The math works! Abundant parking, in a walkable area with easy access to affiliated services, restaurants, trails and parks. Please do not disturb tenants.