7% Cap Absolute Net Corp. HQ

$6,150,000

1315 Cornwall Avenue, Bellingham, WA 98225

For Sale

Office

Active

Last Updated: 11/03/2022

Details:

Cap Rate: 7%

NOI: $430,324

Cash-on-Cash: 8.23%

Building Size: 24,165 sqft

Lot Area: 6,970 sqft

Occupancy: 100%

Class: A

Lease Type: Absolute Net

Year Built: 1930/1999

Price Per Sqft: $254.50

Tenancy: Single

Floors: 4

Restrooms: 6

Floor: 4

HVAC: Yes

Construction Status: Existing

Gross Leaseable Area: 24,165

Year Last Renovated: 1999

Lease Expire Year: 3/31/2026

Investment Strategy: Core

Offered by

Brian Leibsohn

Vice President

The Leibsohn Group of Marcus and Millichap

#18848

Request Info to Unlock

Rj Vara

Marcus & Millichap

Highlights:

7% Cap Rate Absolute Net Lease
21 Year Historical Occupancy
5 Plus Lease Years Remaining With Annual Increases
Core Downtown Location In Growth Market
Strong Publicly Traded Corporate Parent: Internet Resistant Tenant
Iconic Building With Substantial Tenant Improvements

Description:

The Leibsohn Group of Marcus & Millichap Seattle is pleased to present the sale offering for the 24,165 SF national headquarters office building of Dealer Information Systems Corporation in Bellingham, Washington.
Dealer Information Systems Corporation (DIS) is a leading business management software provider to agricultural, construction, truck refrigeration, and lift truck dealers in North America. DIS is a wholly owned subsidiary of Constellation Software Inc. (OTCMKTS:CNSWF). The property is located in downtown Bellingham with convenient access to Interstate 5 and only 20 miles from the Canadian Border.