Bellingham Commercial Real Estate

Bellingham Commercial Real Estate Information

Bellingham is the largest market for commercial real estate, north of Snohomish County. For retail and office space there are four major areas located within the City of Bellingham: Downtown, Cordata, Sunset, and Fairhaven. For industrial space, the primary locations in Bellingham are the Irongate Industrial Area and the Cordata Business Industrial Park.

Infrastructure for the Bellingham Commercial Real Estate Market

Bellingham has a robust infrastructure available to businesses. Bellingham features an international airport, deepwater marine port, railway system, and fiber optic internet. The Bellingham International Airport provides commercial flights, business services including air cargo, and US Customs. The BNSF railway runs north to south through Whatcom County and provides rail service throughout North America.

Featured Commercial Real Estate Listings in Bellingham WA

Featured
$4159000
Status: Available

Guide Meridian Industrial Property

4577 Meridian St, Bellingham, WA 98226, USA
  • Available SQ. FT. n/a
  • Building SQ. FT. n/a
  • Cap Rate: n/a
  • LOT SQ. FT. 594,158
  • Year Built: n/a
  • CBA #: 604674
Featured
$3,000,000
Status: Available

3700 Consolidation Ave

3700 Consolidation Ave, Bellingham, WA 98225, USA
  • Available SQ. FT. n/a
  • Building SQ. FT. n/a
  • Cap Rate: n/a
  • LOT SQ. FT. 43,124
  • Year Built: n/a
  • CBA #: 644936
Featured
$1800000
Status: Available

Hospital Adjacent Medical Site

2500 Squalicum Pkwy, Bellingham, WA 98225, USA
  • Available SQ. FT. n/a
  • Building SQ. FT. n/a
  • Cap Rate: n/a
  • LOT SQ. FT. 282,704
  • Year Built: n/a
  • CBA #: 628123
Featured
$1500000
Status: Available

Nelson's Market

514 Potter St, Bellingham, WA 98225, USA
  • Available SQ. FT. 5,210
  • Building SQ. FT. 5,210
  • Cap Rate: n/a
  • LOT SQ. FT. 9,148
  • Year Built: 1895
  • CBA #: 641611
Featured
$710000
Status: Available

High Traffic Count Corner - Mixed Use

4063 Northwest Dr, Bellingham, WA 98226, USA
  • Available SQ. FT. n/a
  • Building SQ. FT. n/a
  • Cap Rate: n/a
  • LOT SQ. FT. 21,344
  • Year Built: n/a
  • CBA #: 615029
Featured
$20 /Sq. Ft.
Status: Available

Five Columns Restaurant

1301 E Maple St, Bellingham, WA 98225, USA
  • Available SQ. FT. 4,437
  • Building SQ. FT. 4,437
  • Cap Rate: n/a
  • LOT SQ. FT. 27,115
  • Year Built: 1975
  • CBA #: 617176
Featured
$19 /Sq. Ft.
Status: Available

Gaston Bay

Gaston Bay Building, 2925 Roeder Ave, Bellingham, WA 98225, USA
  • Available SQ. FT. 5,495
  • Building SQ. FT. 24,129
  • Cap Rate: 6.4%
  • LOT SQ. FT. 87,120
  • Year Built: 1928
  • CBA #: 601428

Bellingham Commercial Real Estate Listings

$1500000
Status: Available

Nelson's Market

514, Potter St, Bellingham, WA  98225
  • Available SQ. FT.
  • Building SQ. FT. 5210
  • Cap Rate:
  • LOT SQ. FT. 9148
  • Year Built: 1895
  • CBA #: 641611
$2950000
Status: Available

Van Wyck

110, Van Wyck, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT. 9608
  • Cap Rate: 0.31
  • LOT SQ. FT. 83200
  • Year Built: 1960
  • CBA #: 641372
$997500
Status: Available

2110 Iron Street

2110, Iron St, Bellingham, WA  98225
  • Available SQ. FT.
  • Building SQ. FT. 2977
  • Cap Rate:
  • LOT SQ. FT. 10019
  • Year Built: 1920
  • CBA #: 640562
$1390000
Status: Available

Bellingham Business Machines

205, Commercial St, Bellingham, WA  98225
  • Available SQ. FT.
  • Building SQ. FT. 4200
  • Cap Rate:
  • LOT SQ. FT. 6534
  • Year Built: 1958
  • CBA #: 640231
$1700000
Status: Available

3816 Consolidation Avenue

3816, Consolidation Ave, Bellingham, WA  98229
  • Available SQ. FT.
  • Building SQ. FT.
  • Cap Rate:
  • LOT SQ. FT. 112820
  • Year Built:
  • CBA #: 640007
$2500000
Status: Available

4260 Pacific Highway

4260, Pacific Hwy, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT.
  • Cap Rate:
  • LOT SQ. FT. 837659
  • Year Built:
  • CBA #: 639657
$950000
Status: Available

Gusto Wood Fired Pizza

1295, Bakerview Rd, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT. 1955
  • Cap Rate:
  • LOT SQ. FT. 20499
  • Year Built: 1976
  • CBA #: 639287
$2500000
Status: Available

Beldar Haven Farm

5435, Sand Rd, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT. 28907
  • Cap Rate:
  • LOT SQ. FT. 4304164
  • Year Built: 1921
  • CBA #: 639182
$2400000
Status: Available

DOL Building - Bellingham

4180, Cordata Parkway, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT. 9570
  • Cap Rate: 5.24
  • LOT SQ. FT. 50965
  • Year Built: 2005
  • CBA #: 639144
$7945320
Status: Available

Lincoln Street Development Land

1155, Lincoln Street, Bellingham, WA  98229
  • Available SQ. FT.
  • Building SQ. FT.
  • Cap Rate:
  • LOT SQ. FT. 132422
  • Year Built:
  • CBA #: 639081
$1829520
Status: Available

Lincoln Street Development Land - 2C

1221, Lincoln St, Bellingham, WA  98229
  • Available SQ. FT.
  • Building SQ. FT.
  • Cap Rate:
  • LOT SQ. FT. 30492
  • Year Built:
  • CBA #: 639080
$3136320
Status: Available

Lincoln Street Development Land - 2B

1221, Lincoln St, Bellingham, WA  98229
  • Available SQ. FT.
  • Building SQ. FT.
  • Cap Rate:
  • LOT SQ. FT. 52272
  • Year Built:
  • CBA #: 639078
$1463640
Status: Available

Lincoln Street Development Land - 2A

1221, Lincoln Street, Bellingham, WA  98229
  • Available SQ. FT.
  • Building SQ. FT.
  • Cap Rate:
  • LOT SQ. FT. 24394
  • Year Built:
  • CBA #: 639073
$18500000
Status: Available

XX W Bakerview Road

0, Bakerview Rd, Bellingham, WA  98225
  • Available SQ. FT.
  • Building SQ. FT.
  • Cap Rate:
  • LOT SQ. FT. 1412215
  • Year Built:
  • CBA #: 639041
$2190000
Status: Available

Guide Meridian Frontage

4346, Guide Meridian, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT.
  • Cap Rate:
  • LOT SQ. FT. 398138
  • Year Built:
  • CBA #: 638726
$695000
Status: Available

Cordata

0, Cordata Pkwy, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT.
  • Cap Rate:
  • LOT SQ. FT. 73180
  • Year Built:
  • CBA #: 638319
$2500000
Status: Available

King Street Shell Station

1901, King St, Bellingham, WA  98225
  • Available SQ. FT.
  • Building SQ. FT. 2086
  • Cap Rate:
  • LOT SQ. FT. 20038
  • Year Built: 1971
  • CBA #: 637474
$675000
Status: Available

CheckMate Pawn

3205, Northwest Ave, Bellingham, WA  98225
  • Available SQ. FT.
  • Building SQ. FT. 3696
  • Cap Rate:
  • LOT SQ. FT. 9612
  • Year Built: 1946
  • CBA #: 637225
$194000
Status: Available

The Atrium Condominium

1031, State St, Bellingham, WA  98225
  • Available SQ. FT. 567
  • Building SQ. FT. 28964
  • Cap Rate: 0.00
  • LOT SQ. FT. 12505
  • Year Built: 2006
  • CBA #: 636681
$6500000
Status: Available

742 Marine Drive

742, Marine Dr, Bellingham, WA  98225
  • Available SQ. FT.
  • Building SQ. FT. 80148
  • Cap Rate:
  • LOT SQ. FT. 257004
  • Year Built: 2008
  • CBA #: 632874

Bellingham Primary Trade Area (population 237,347)

Bellingham’s primary trade area serves a population of 237,347, which includes Bellingham’s city population of 96,014 (2021) and an addition population of 141,333 Whatcom County residents based on natural barriers and a lack of retail options.

Bellingham Secondary Trade Area (population 550,000)

The secondary trade area of Bellingham serves a population of 550,000 which includes the lower mainland of British Columbia including Vancouver, Richmond, Surrey, and Abbotsford as well as a population of 131,945 (2021) from Skagit Valley. Canadian retail tourism is strong in Bellingham’s trade area with over 12,000,000 passengers crossing the border from Canada into Bellingham in 2019. Current data on border crossings is bleak as the border was closed for most of 2020 and very limited in 2021.

Retail, Office, and Industrial Market Statistics

One of the best ways for a business or investor to determine what direction the market is headed is by looking at where the market has been. At Pacific Continental Realty, we track market statistics in Bellingham and the surrounding markets to keep us up to date with the market and so we can help educate you to make informed decisions. Currently, we produce a quarterly vacancy report for retail, office, and industrial in Bellingham.

Bellingham Retail Market Statistics (2021 YTD)

How much retail space exists within the Bellingham market? There are over 450 retail buildings and over 10,00,000 square feet. That may seem like a lot of retail space in a market the size of Bellingham, but with a 2021 vacancy rate of 3.89% it may not be enough. The retail market in Bellingham can be heavily influenced by the Canadian dollar. When the Canadian dollar is on par with the US dollar, the retail market screams in Bellingham. Given historical data, the breaking point appears to be around $0.80 on the US dollar for when the Canadian retail influence begins to diminish and the Bellingham commercial real estate market begins to feel it.

Search the entire market for Bellingham retail space for lease.

Bellingham Office Market Statistics (2021 YTD)

The trends in office space usage has changed over the last decade. Office tenants are not only demanding more open space and different types of layouts than before, but they also want more flexibility with their lease. This change in treads has created many older styled offices to be less desirable and with new office tenants wanting shorter lease terms, this would appear to be perfect storm for a disaster, but the statistics suggest otherwise. The current vacancy rate for office space in Bellingham is only 3.8%, which is well down from the recent average of 10.2%.

Search the entire market for Bellingham office space for lease.

Bellingham Industrial Market Statistics (2021 YTD)

The industrial market in Bellingham remained steady in 2020. With demand still very strong for industrial and no new buildings adding to the supply, the vacancy rate declined slightly. Still remaining below 1%, the overall vacancy rate for industrial buildings is a critical issue for manufacturers or distributors looking to enter the Bellingham market. The average asking rent for industrial space in Bellingham decreased from $0.76/SF/MO in Q1 to $0.73/SF/MO in Q2. The industrial sector is one of the strongest in the market for Bellingham commercial real estate.

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