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Listing ID: 1857437
Sold For: $10,000,000
Status: Closed
Address: 6955 Salashan Parkway
City: Ferndale
State: Washington
Postal Code: 98248
SqFt: 103,500
Acres: 7
County: Whatcom
6.25% cap rate with 5% vacancy credit loss on an Absolute Net Lease. 5-year renewal just executed with first year rate established at $54,167 per month with annual bumps. Lease includes 2 additional 5-year lease renewal options at market rent. Strong international tenant with excellent rent history. Two buildings, 100k sq ft combined, side by side on 7 acres in North Ferndale. 1 - 40k sq ft and 1 - 60k sq ft fully sprinkled steel buildings that include a mix of grade and dock high doors. Coupon Clipper offered at below replacement cost.

Primary Features

County: Whatcom
Property Sub Type: Commercial Industrial
Property Type: Commercial Sale
Subdivision: Ferndale
Year Built: 1998


Building Area Units: Square Feet
Furnished: Unfurnished
Living Area Units: Square Feet


Elevation Units: Feet
Lot Size Square Feet: 304920
Lot Size Units: Square Feet
MLS Lot Size Source: Realist
Sewer: Septic Tank
Structure Type: Industrial
Style Code: 71 - Light Indrl.
Utilities: Septic System, Electricity Available, Natural Gas Connected
Water Source: Public


Country: US
MLS Area Major: 870 - Ferndale/Custer
Zoning Class: Industrial-Light
Zoning Jurisdiction: County


First Right Of Refusal: no
Free And Clear: true
Mls Status: Sold
Offers: Seller intends to review offers upon receipt
Possible Use: Industrial
Power Production Type: Electric, Natural Gas
Preliminary Title Ordered: yes


Buyer Financing: Conventional
Cap Rate: 6.58
Gross Adjusted Income: 650000
Gross Scheduled Income: 650000
Net Operating Income: 650000
Possession: Tenant's Rights
Sale Type: MLS
Seller Disclosure: Not Provided
Special Listing Conditions: None

Zoning Info

Area Info

The database information herein is provided from the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. The information contained in this listing has not been verified by Heaton Dainard, LLC (2412) and should be verified by the buyer. © 2022 NWMLS. All rights reserved. Data last updated: Sunday, December 4th, 2022 07:22:51 PM.
Closed Listing courtesy of Pacific Continental Realty LLC
Closed Listing courtesy of Pacific Continental Realty LLC

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