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Petco

$5,900,000

189 East Bakerview Road, Bellingham, WA 98226

Active
Last Updated: 02/21/2025

5.52

Cap Rate

325,680

NOI

Details:
Cap Rate:    5.52%
NOI:    $325,680
Building Size:    12,096 sqft
Lot Area:    2.39 acres
Occupancy:    100%
Units:    1
Year Built:    2003
Zoning:    C1 - General Commercial
Floors:    1
Description:

This Petco store, which has occupied this site for 20 years, just entered into a new NNN corporate lease extension of ten years, showing their commitment to the location.  It is a free-standing, 12,096 square foot building.  The property shares a parking lot with the adjacent Walgreens. Petco upgraded the store in 2024.


The property is located at the intersection of Meridian and Bakerview, one of the busiest intersections in Bellingham, WA, with a daily traffic count of 42,678 automobiles.



New 10-Year Corporate Lease
Property Update Underway
97.4 Retail Occupancy in Bellingham
Freestanding Store 
Tax-Free State
Management-free Investment
Ranked in top 10 of all stores in Washington
Petco continues to earn more market share

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Documents:
Title
Petco-Bellingham-OM
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Today's Available Mortgage Rates

189 East Bakerview Road, Bellingham, Washington 98226

Choose Your Priority
 
Interest Rate
Mo. Payments
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default.
Loan Amount
Rates as of 05/30/2025
BankLender #1049
5 Year Fixed
25 Year Amortization
Interest rate 5.96% 5 Year Fixed
Mo. Payment$21,586 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 57% LTV $0 Lender fees
Loan Amount $3,363,000 Loan Amount
Details
BankLender #1068
7 Year Fixed
25 Year Amortization
Interest rate 6.08% 7 Year Fixed
Mo. Payment$22,599 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 59% LTV $0 Lender fees
Loan Amount $3,481,000 Loan Amount
Details
BankLender #1068
10 Year Fixed
25 Year Amortization
Interest rate 6.08% 10 Year Fixed
Mo. Payment$22,599 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 59% LTV $0 Lender fees
Loan Amount $3,481,000 Loan Amount
Details
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CommLoan is providing quotes for information purposes only. For additional information on the largest commercial real estate lending marketplace, visit: www.commloan.com.

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