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Listed by:John L. Scott Bellingham • Patrick Starr
$3,433,015
Est. payment /mo
0.33 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Fairhaven
MLS Listing ID 2504134
Style 61 - Comm Bldg Ovr 10K
HOA Fees $1
Year Built 2008
Lot Size 0.328 Acres
Property Sub-Type Commercial Industrial
Property Description
Huge price reduction gives you a true 8% Cap Rate based on actual #s. This reflects the single unit currently vacant plus we deducted an additional 5% vacancy rate on top of that just to keep the underwriters happy. Or, you can assume the underlying mortgage (approx $1.28M) at 4.125% FIXED for the next 5 years. That is cheap money! Don't miss this chance to own a piece of historic downtown Fairhaven. 8 street-level commercial/retail condos split between the Waldron & Young Buildings encompassing Finnegan's Alley. Multiple addresses. 91.5% occupied. Total 19,820 sq feet with 14,275 rentable. All leases include escalations and are NNN. All #s are actual, not pro-forma. 8% cap rate. View units with discretion only. Do not disturb tenants. Sale also includes some underground parking rights.
Location
State WA
County Whatcom
Area 860 - Bellingham
Interior
Fireplace false
Building
Sewer Sewer Connected
Water Public
Others
Senior Community No
Acceptable Financing Assumable, Cash, Conventional
Listing Terms Assumable, Cash, Conventional
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