189 Bakerview Rd Bellingham, WA 98226

This exceptional investment opportunity presents a fee-simple, single-tenant, net-leased Petco store located at 189 E Bakerview Rd, Bellingham, WA 98226. The 12,096 square foot building, constructed in 2004 and renovated in 2024, sits on a 2.39-acre lot and is zoned for general commercial use. Currently operating under a 10-year lease commencing February 1, 2024, and expiring January 31, 2034, this property boasts a 9.2-year remaining lease term with a corporate guarantee. The lease includes a 10% rent increase on February 1, 2029, ensuring consistent income growth. The property's strong financial performance is reflected in its 5.52% cap rate and a net operating income (NOI) of $325,680, with an asking price of $5,900,000 ($487.76/sq ft). Located in a tax-free state, this investment is ideal for those seeking a stable, high-performing asset with significant long-term potential. The property benefits from 100% occupancy and a prime location in Bellingham, Washington, within Whatcom County. This freestanding store is a perfect fit for 1031 exchange buyers seeking a secure, single-tenant investment with a strong tenant and a proven track record.