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
$8,400,000 /Sale Price
Status: Available

Iowa Business Park

1700 Iowa St, Bellingham, WA 98229, USA
  • Available SQ. FT. n/a
  • Building SQ. FT. 31,457
  • Cap Rate: 6.14%
  • LOT SQ. FT. 140,263
  • Year Built: 1977
  • CBA #: 39406270
Featured
$5,900,000 /Sale Price
Status: Available

Planned Industrial Site

1365 Mahogany Ave, Bellingham, WA 98226, USA
  • Available SQ. FT. N/A
  • Building SQ. FT. N/A
  • Cap Rate: N/A
  • LOT SQ. FT. 409,464
  • Year Built: N/A
  • CBA #: 34078290
Featured
$3,975,000.00 /Sale Price
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 #: 38277642
Featured
$1450000 /Sale Price
Status: Available

Irongate Planned Industrial

2881 E Bakerview Rd, Bellingham, WA 98226, USA
  • Available SQ. FT. n/a
  • Building SQ. FT. 12,000
  • Cap Rate: n/a
  • LOT SQ. FT. 11,6305
  • Year Built: 1996
  • CBA #: 38918621
Featured
$1300000 /Sale Price
Status: Available

Sunset Drive Multifamily Development

2000 E Sunset Dr, Bellingham, WA 98226, USA
  • Available SQ. FT. 11,694
  • Building SQ. FT. 11,694
  • Cap Rate: 6%
  • LOT SQ. FT. 20,037
  • Year Built: n/a
  • CBA #: 33986139
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
Featured
$2,695,000 /Sale Price
Status: Available

Irongate Industrial Land

2891 E Bakerview Rd, Bellingham, WA 98226, USA
  • Available SQ. FT. n/a
  • Building SQ. FT. n/a
  • Cap Rate: n/a
  • LOT SQ. FT. 950,479
  • Year Built: n/a
  • CBA #: 38986890
Featured
$1348000 /Sale Price
Status:

4020 Hammer Dr, Bellingham, WA 98226, USA
  • Available SQ. FT. n/a
  • Building SQ. FT. 8,960
  • Cap Rate: 5%
  • LOT SQ. FT. n/a
  • Year Built: 2002
  • CBA #: 38760516

Bellingham Commercial Real Estate Listings

$1500000
Status: Available

4149 Northwest Drive

4149, Dr, Bellingham, WA  98226
  • Available SQ. FT. 71003
  • Building SQ. FT. 1370
  • Cap Rate: 1.34
  • LOT SQ. FT. 71003
  • Year Built: 1952
  • CBA #: 654420
$2945000
Status: Available

Architectural Award-Winning Acme Building

1011, Harris Ave, Bellingham, WA  98225
  • Available SQ. FT. 8872
  • Building SQ. FT. 8872
  • Cap Rate:
  • LOT SQ. FT. 4792
  • Year Built: 2013
  • CBA #: 652156
$699888
Status: Available

Meridian Psychic Center

4459, Meridian St, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT. 1280
  • Cap Rate:
  • LOT SQ. FT. 76230
  • Year Built: 1957
  • CBA #: 643808
$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
$695000
Status: Available

4434 Pacific Highway

4434, Pacific Hwy, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT.
  • Cap Rate:
  • LOT SQ. FT. 104544
  • Year Built:
  • CBA #: 625586
$6950000
Status: Available

Gaston Bay Building

2925, Roeder Ave, Bellingham, WA  98225
  • Available SQ. FT.
  • Building SQ. FT. 24129
  • Cap Rate:
  • LOT SQ. FT. 87120
  • Year Built: 1928
  • CBA #: 601428
$1200000
Status: Available

Kelly Road Business Park - Land

182, Kelly Rd, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT.
  • Cap Rate:
  • LOT SQ. FT. 257875
  • Year Built:
  • CBA #: 572799
$6888000
Status: Available

Kelly Road Business Park

188, Kelly Rd, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT. 51000
  • Cap Rate:
  • LOT SQ. FT. 257875
  • Year Built: 2015
  • CBA #: 572798
$585000
Status: Pending

Current Industries

3824, Williamson Way, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT. 8041
  • Cap Rate:
  • LOT SQ. FT. 20909
  • Year Built: 1987
  • CBA #: 677129
$5100000
Status: Pending

Samish Court

119, Samish Way, Bellingham, WA  98225
  • Available SQ. FT.
  • Building SQ. FT. 0
  • Cap Rate: 5.01
  • LOT SQ. FT. 132377
  • Year Built: 1960
  • CBA #: 674299
$1495000
Status: Pending

1968 Midway Ln

1968, Midway Ln, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT. 4800
  • Cap Rate:
  • LOT SQ. FT. 50103
  • Year Built: 1990
  • CBA #: 671936
$500000
Status: Pending

XXX Slater Road

0, Slater Rd, Bellingham, WA  98226
  • Available SQ. FT. 144619
  • Building SQ. FT.
  • Cap Rate:
  • LOT SQ. FT. 144619
  • Year Built:
  • CBA #: 669850
$2500000
Status: Pending

800 Samish Way

800, Samish Way, Bellingham, WA  98229
  • Available SQ. FT. 36590
  • Building SQ. FT. 0
  • Cap Rate:
  • LOT SQ. FT. 71362
  • Year Built:
  • CBA #: 669170
$2500000
Status: Pending

750-800 Samish Way

750, Samish Way, Bellingham, WA  98229
  • Available SQ. FT. 34848
  • Building SQ. FT. 0
  • Cap Rate:
  • LOT SQ. FT. 71362
  • Year Built:
  • CBA #: 669149
$889000
Status: Pending

2551 Roeder

2551, Roeder Avenue, Bellingham, WA  98225
  • Available SQ. FT.
  • Building SQ. FT. 7554
  • Cap Rate:
  • LOT SQ. FT. 9374589
  • Year Built: 1981
  • CBA #: 665415
$2034000
Status: Pending

Mixed Use Development Site

451, Bakerview Rd, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT. 0
  • Cap Rate:
  • LOT SQ. FT. 98446
  • Year Built: 0
  • CBA #: 660512
$4950000
Status: Pending

140 E Bellis Fair Pkwy

140, Bellis Fair Pkwy, Bellingham, WA  98226
  • Available SQ. FT. 27257
  • Building SQ. FT. 27257
  • Cap Rate:
  • LOT SQ. FT. 103673
  • Year Built: 1971
  • CBA #: 657987
$1700000
Status: Pending

3816 Consolidation Avenue

3816, Consolidation Ave, Bellingham, WA  98229
  • Available SQ. FT.
  • Building SQ. FT. 0
  • Cap Rate:
  • LOT SQ. FT. 112820
  • Year Built:
  • CBA #: 640007
$2190000
Status: Pending

Guide Meridian Frontage

4346, Guide Meridian, Bellingham, WA  98226
  • Available SQ. FT.
  • Building SQ. FT. 0
  • Cap Rate:
  • LOT SQ. FT. 398138
  • Year Built:
  • CBA #: 638726
$130000
Status: Pending

Kope Road Mitigation Site

1075, Kope Rd, Bellingham, WA  98248
  • Available SQ. FT.
  • Building SQ. FT. 0
  • Cap Rate:
  • LOT SQ. FT. 542748
  • Year Built:
  • CBA #: 636994

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.

Search the entire market for Bellingham industrial space for lease.

Search
Size

Compare listings

Compare