$1,650,000
Est. $8,361/mo1232 N State Street, Bellingham, WA 98225
• Listed 2026-05-14•11 days on market
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Prime Downtown Bellingham Investment and Future Development Opportunity LAG # Rare offering in the heart of downtown Bellingham. 5,500 SF fully occupied, 2-tenant building located within the downtown urban village zoning and within a designated Opportunity Zone. Current NOI reflects an 8% CAP. Anchor tenants IKI Izakaya Bar and Accomplice are part of the strongest retail block of Bellingham! Other businesses include Old World Deli, The Racket, GreenHouse, Buffalo Exchange, Makeworth Coffee, Pedino, Bry’s Kitchen and Rock & Rye.
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1232 N State Street, Bellingham, WA 98225
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MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of June 1, 2026 at 05:43pm (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
© 2026 Northwest Multiple Listing Service. All rights reserved.
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Listed by Amia Froese • Saratoga Commercial R.E.
Listing updated: June 1, 2026 at 05:43pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2523536
Bellingham is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Well-priced homes draw multiple offers; others sell close to asking.
List to sale price: The average home sells for about 1% below list price.
Time on market: The average home goes pending in around 23 days.
$570,000 Sold
4 weeks ago
•Single Family
521 W Holly Street, Bellingham, WA 98225
19%
Under list
—
Days on market
0.5 mi
Distance
$1,900,000 Sold
6 weeks ago
•Single Family
1621 Cornwall Avenue, Bellingham, WA 98225
3%
Under list
—
Days on market
0.4 mi
Distance
$400 Sold
6 weeks ago
•0.5 ba•Single Family
102 Ohio Street, Bellingham, WA 98225
0%
Over list
—
Days on market
0.5 mi
Distance
$325,000 Sold
2 months ago
1 bd•~648 sq ft•Single Family
1205 E Maple Street, Bellingham, WA 98225
13%
Under list
—
Days on market
0.6 mi
Distance
$675,000 Sold
4 months ago
2 bd•1 ba•~884 sq ft•Single Family
2111 Franklin Street, Bellingham, WA 98225
0%
Over list
—
Days on market
0.8 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Jun 2026
School information is unavailable for this listing. School boundaries can change, so verify the assigned schools with the district before purchasing.
