851 Coho Way, Bellingham, WA 98225
- $11,400,000
Listing courtesy of Pacific Continental Realty LLC.
- List Price
- $11,400,000
- Status
- ACTIVE
- MLS#
- 1881412
- Days on Market
- 116
Property Description
The Marina Building sits proudly within the Port of Bellingham’s Marina District. 100% fully leased, 6.16% Cap on actuals with 3% vacancy credit loss, with a strong mix of regional and local tenants. 1st floor is anchored by LFS retail sales serving marine industry and the 2nd and 3rd floor as Class A office with secure entry served by elevator. Fully sprinkled. This 47k plus sq ft building has been meticulously upgraded and maintained with a tenant occupancy average of 6.75 years. Building is situated on a landlord favorable Port of Bellingham Land Lease with 40 years remaining. The math works! Abundant parking, in a walkable area with easy access to affiliated services, restaurants, trails and parks.
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Additional Information
- Community
- Bellingham
- Building Condition
- Very Good
- Style
- 61 - Comm Bldg Ovr 10K
- Year Built
- 1991
- # of Assigned Spaces
- 127
- Roof
- Flat
- Tax Year
- 2022
- Potential Terms
- Cash Out, Conventional
- Interior Features
- Forced Air, Heat Pump, Ceramic Tile, Wall to Wall Carpet
- Flooring
- Ceramic Tile, Vinyl, Carpet
- Driving Directions
- Roeder Avenue to Coho Way. Property is situated on the corner of Roeder and Coho
- Heating/Cooling Type
- Forced Air, Heat Pump
- Electric Expenses
- 3562
- Other Expenses
- 133684
- Energy Source
- Electric, Natural Gas
- Net Operating Income
- $702,744
- Gross Adjusted Income
- $921,373
- Gross Scheduled Income
- $949,870
- Water/Sewer/Garbage Expenses
- $24,223
- Cap Rate
- 6.16
- Vacancy Rate
- 3
- Total Expenses
- $218,630
