$1700000
Bed
Bath
0 SqFt
61 DOM
Built: 1977
CEO & Founder
(650)533-3259Rare development/commercial opportunity in the heart of Old Town Bellingham. This prime site previously had approved permits for a 50-unit multifamily apartment project, continues to qualify for the Multi-Family Housing Tax Exemption (MFTE), offering strong financial upside for developers pursuing new residential density in a high-demand urban corridor. The history of prior entitlements provides a proven roadmap for redevelopment, allowing flexibility for a revised or expanded vision. The existing improvements support a broad range of permitted commercial uses including retail, office, creative or design studios, service-based businesses, light production, and mixed commercial occupancy. This flexibility allows an investor or owner-user to generate income by leasing the property over several years while completing design, entitlement, or capital planning for future redevelopment. The property is strategically located minutes from Downtown Bellingham, the Waterfront District, and Western Washington University, with easy access to major transit routes, employment centers, and surrounding neighborhoods. Old Town continues to experience revitalization, with an 84-unit multifamily development currently underway nearby, reinforcing strong housing demand and long-term growth momentum. A rare combination of MFTE eligibility, proven development feasibility, flexible interim commercial use, and a highly desirable central location for investors, developers, or owner-operators.
Listing Provided Courtesy of Daniel Sebryakov, KW Lake Washington So
NWM2456055
Commercial Industrial
61 DOM
10018.8 SqFt
0
1977
Commerc
Whatcom
Commercial Sale
Commercial Industrial
Listing Provided Courtesy of Daniel Sebryakov, KW Lake Washington So
Kasamestates data last checked: Feb 24, 2026 04:58 | Listing last modified Jan 26, 2026 17:38,
Source:
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