2731 Meridian StBellingham, WA 98225

Property Details for 2731 Meridian St

Year built

1904

Lot size

0.11 AC

Property size (Sq ft)

2,448 SF

Zone code

CC

Property type

Retail properties

APN

380224 554219 0000

APU

3802245542190000

Description

This exceptional commercial property, situated on a highly visible corner of Meridian Street in Bellingham, WA, presents a lucrative investment opportunity. The property consists of a 1,774 square foot standalone retail building, currently fully leased, and a 672 square foot apartment located above. Both the retail space and the apartment boast separate entrances, offering convenience and privacy for occupants. The retail space benefits from prominent pole signage on Meridian Street, ensuring high visibility and attracting potential customers. Seven parking spaces are conveniently located on the property, providing ample parking for tenants and customers. Adding to the property's versatility, there is an additional storage building accessible via an alley, offering extra space for various uses. The property is zoned for commercial use, allowing for a wide range of potential applications, including, but not limited to, continued retail use or even Airbnb rentals, subject to local regulations. The property's prime location, combined with its diverse features and existing tenancy, makes it an attractive investment for discerning buyers seeking a strong return on investment in a thriving Bellingham market. The asking price is $950,000. The lot size is 0 acres.

• CAP approach

  CAP return

  Valuation

  6%

  $970,657

  6.5%

  $895,991

  7%

  $831,992

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,875,199

  Geo Method

  $1,188,018

• Alternative Use

  Use

  Valuation

  Residential

  $755,802

  Hospitality

  $692,310

  Educational

  $575,994

  Medical

  $595,804

  Retail

  $895,991

Location Insight

City

Bellingham

County

Whatcom

State

Washington

Latitude

48.7668

Longitude

-122.486

CBSA code

13380

CBSA name

BELLINGHAM, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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