1058 N State Street, Bellingham, WA 98225

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.