Listed by Saratoga Commercial
$1,650,000
1232 N State St
Details
Property Type Retail
Sub Type Restaurant, Bar
Square Footage 5,500
Cap Rate 8.00%
NOI $132,000
Occupancy 100%
Tenancy Multi
Lease Type NNN
Price per SqFt $300
Year Built 1894
Year Renovated 2019
Acreage 0.240
Zoning Downtown Commercial Core Urban Village
Investment Type Stabilized
Ground Lease No
Retail | 8.00% CAP | 5,500 SqFt
Marketing description
A welcoming storefront presence and inviting outdoor courtyard patio enhance the property’s appeal and long-term tenant desirability. Located within the Downtown District’s Urban Village and Opportunity Zone, this asset also offers exceptional future upside. Zoning advantages include no maximum density, no maximum height restriction, and no minimum setbacks, making it ideal for investors seeking dependable in-place income today with compelling redevelopment potential tomorrow.
Investment highlights
- $132,000 NOI, reflective of a 8% CAP rate.
- 100% occupied, two tenant building.
- Urban Village and Opportunity Zone incentives available.
- Long-term stabilized income or hold for future redevelopment.
- 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.
Listing Contacts
Listed by Saratoga Commercial
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$132,000.00
$11,000.00/mo
Valuation Metrics
0
DSCR
8%
Cap Rate
8%
ROI
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