Social Security Administration | Shadow Anchored by… — Sale in Bellingham, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Bellingham, WA 98225
  • Year built: 2008

Photos

Social Security Administration | Shadow Anchored by… — Sale in Bellingham, WA, photo 1 of 2
Social Security Administration | Shadow Anchored by… — Sale in Bellingham, WA, photo 2 of 2

Investment Figures

Cap rate
7.29%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been selected to exclusively market for sale a Social Security Administration (SSA) field office in Bellingham, Washington. The lease is guaranteed by the United States Government, providing one of the strongest credit-backed income streams available. Built to suit for SSA in 2008, the tenant has continuously operated from this location for 18+ years. As the only SSA field office in Whatcom County, serving 236,000+ residents, the property is mission-critical with limited relocation risk. The property also features an approximately 7,000 SF pad area along Alabama St. with potential for a coffee kiosk generating an estimated $2,000–$3,000/month in additional rent. Located directly on Alabama St. with 33,000+ VPD and easy ingress/egress from both directions, the property is shadow anchored by the #1 ranked Trader Joe's in Bellingham, nationally top 18% per Placer.ai, and surrounded by retail, government, office, and residential uses driving consistent traffic. Within ten miles, the property serves 155,000+ residents with average household incomes exceeding $102,000. Washington's lack of state income tax further enhances after-tax returns. Investment Highlights: • United States Government Guarantee • Mission Critical Tenant • Strong Historical Occupancy | 18+ Years • Pad Development Upside • High Traffic, Hard Corner Location with Easy Ingress/Egress • Strategic Position | Shadow Anchored by Top Ranked Trader Joe's • Only SSA Field Office in Whatcom County | 236,000+ Residents • Dense, Affluent Demographics

Market Context

This office in Bellingham, WA is listed for sale. It is offered at an approximate 7.3% capitalization rate, a key benchmark for income-producing office assets. The building dates to 2008. Compare it against other office listings for sale in Bellingham, WA — view the full market.

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