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Listed by:RE/MAX Whatcom County, Inc. • Gabrielle Balolia
$875,000
Est. payment /mo
0.55 Acres Lot
Active
1058 N State ST Bellingham, WA 98225
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Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Sehome
MLS Listing ID 2564422
Style 60 - Comm Bldg Und 10K
Year Built 1960
Annual Tax Amount $9,746
Lot Size 0.550 Acres
Property Sub-Type Commercial Industrial
Property Description
Possible Owner Financing! Highly visible 0.55-acre commercial property in downtown Bellingham featuring an approximately 1,600-SF, three-bay former gas station/mechanic shop and expansive paved parking lot. The building is vacant, offering potential for a new business or adaptive reuse. Explore possibilities for a neighborhood market, tap-house or food truck gathering space, subject to applicable permits and approvals. Fronting North State Street, a primary arterial connecting downtown and Fairhaven, the property is minutes from Western Washington University. The parking lot is leased month-to-month under a 60% revenue-sharing arrangement, generating approximately $1,200 per month in owner income. Put the existing commercial space to work while pursuing a possible longer-term development opportunity. Downtown Commercial Core zoning allows multifamily residential, commercial and mixed-use development, with NO MAXIMUM residential density and NO MINIMUM automobile parking requirement. Preliminary concepts suggest potential for ground-floor commercial space AND 100+ apartment or condominium units above, depending on design, height and unit mix. Known petroleum contamination from historical service-station operations; environmental reports available. Proposed uses and development concepts are subject to buyer feasibility, environmental evaluation and City approval. Owner financing may be considered for a qualified buyer.
Location
State WA
County Whatcom
Area 860 - Bellingham
Interior
Flooring Concrete
Fireplace false
Building
Sewer Sewer Connected
Water Public
Others
Senior Community No
Acceptable Financing Cash, Conventional, Owner Will Carry, See Remarks
Listing Terms Cash, Conventional, Owner Will Carry, See Remarks
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