2731 Meridian StBellingham, WA 98225

  • Retail properties
  • 2,448 SF
For Sale
$950,000 View listing

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
Property subtype
Other 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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
2731 Meridian St, Bellingham, Washington

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2021
$3,755
$261,000
$181,569
$442,569
-
$261,000
$181,569
$442,569

FAQs

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