1058 N State Street, Bellingham, WA 98225

Property Description

Downtown Bellingham development opportunity. This highly visible 23,958-square-foot (0.55-acre) parcel is located along North State Street, a primary arterial connecting downtown Bellingham and Fairhaven, just minutes from Western Washington University. Downtown Commercial Core zoning permits multifamily residential, commercial and mixed-use development. Current zoning establishes no maximum residential density, building height, setbacks or lot coverage. Preliminary analysis indicates potential for approximately 90–110 residential units. A conceptual 100-unit project could include 24 studios, 50 one-bedroom, 22 two-bedroom and 4 three-bedroom apartments. Taller or more compact construction may support additional units. Bellingham’s elimination of automobile parking minimums provides further design flexibility. The property is currently improved with an approximately 1,600-square-foot, three-bay automotive repair shop, currently operating as a Pay to Park, Parking Lot. Buyers may consider utilizing the existing structure or pursuing complete redevelopment. Historical automotive and service-station uses should be considered during environmental and development feasibility review. All development concepts and unit estimates are preliminary and subject to independent verification with the City of Bellingham and appropriate consultants......................Owner financing may be considered for a qualified buyer.............