Bremerton Area Real Estate Search

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851 Coho Way
Bellingham, Washington WA 98225
$11,400,000 Price
Active Status
47,508 SqFt
1.395 Acres
1881412 Listing ID
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.
Schedule Showing
Status Active
County Whatcom
Subdivision Bellingham
Year Built 1991
Property Type Commercial Sale
Commercial Sale
Property Sub Type Commercial Industrial

Primary Features

County: Whatcom
Property Sub Type: Commercial Industrial
Property Type: Commercial Sale
Subdivision: Bellingham
Year Built: 1991


Approximate Office Square Feet: 47508
Building Area Units: Square Feet
Building Features: Elevator, Signage Included, Sprinklered
Flooring: Ceramic Tile, Vinyl, Carpet
Furnished: Unfurnished
Heating Cooling Type: Forced Air, Heat Pump
Interior Features: Forced Air, Heat Pump, Ceramic Tile, Wall to Wall Carpet
Living Area Units: Square Feet


Elevation Units: Feet
Exterior Features: Metal/Vinyl
Foundation Details: Poured Concrete, Slab
Lot Size Square Feet: 60785
Lot Size Units: Square Feet
MLS Lot Size Source: Lease Description
Parking Total: 127
Parking Uncovered Total: 127
Roof: Flat
Sewer: Sewer Connected
Sewer Company: COB
Structure Type: Unspecified
Style Code: 61 - Comm Bldg Ovr 10K
Utilities: Sewer Connected, Electricity Available, Natural Gas Connected
Water Company: COB
Water Sewer Garbage: 24223
Water Source: Public


Country: US
MLS Area Major: 860 - Bellingham
Topography: Level
Zoning Class: Commercial
Zoning Jurisdiction: See Remarks


Effective Year Built Source: Public Records
Environmental Survey: true
First Right Of Refusal: no
Loading: 1-3 Bays
Mls Status: Active
Offers: Seller intends to review offers upon receipt
Possible Use: Commercial
Power Company: PSE
Power Production Type: Electric, Natural Gas
Preliminary Title Ordered: yes
Property Condition: Very Good
Year Built Effective: 1991


Cap Rate: 6.16
Electric Expense: 3562
Gross Adjusted Income: 921373
Gross Rent Multiplier: 12
Gross Scheduled Income: 949870
Insurance Expense: 7161
Net Operating Income: 702744
Other Expense: 133684
Possession: Tenant's Rights
Sale Type: MLS
Seller Disclosure: Provided
Special Listing Conditions: None
Tax Annual Amount: 50000
Tax Year: 2022
Total Expenses: 218630
Vacancy Rate: 3

Zoning Info

The database information herein is provided from the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. The information contained in this listing has not been verified by Realty Station Inc. (4029) and should be verified by the buyer. © 2023 NWMLS. All rights reserved. Data last updated: Saturday, January 28th, 2023 01:31:01 AM.
Active Listing courtesy of Pacific Continental Realty LLC
Active Listing courtesy of Pacific Continental Realty LLC

Contact - Listing ID 1881412

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Realty Station Inc.

Bremerton, WA 98310
Phone: 360-377-5699

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