$11,385,000
Est. $57,689/mo851 Coho Way, Bellingham, WA 98225
• Listed 2026-02-05•128 days on market
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Easy $70k net revenue per month. The Marina Building sits proudly on the corner of Coho Way and Roeder Ave within the Port of Bellingham’s Marina District. Actual cap rate is 7.5%, with a strong mix of regional and local tenants. 1st floor is anchored by LFS retail sales serving the marine industry, with the 2nd and 3rd floor as Class A office with secure entry served by an elevator. This 47k plus sq ft, fully sprinkled building has been meticulously upgraded and maintained with a tenant occupancy average of 9 years. Building is situated on a landlord favorable Port of Bellingham Land Lease with 36 years remaining. The math works! Abundant parking, in a walkable area with easy access to affiliated services, restaurants, trails and parks. Please do not disturb tenants.
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851 Coho Way, Bellingham, WA 98225
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MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of February 5, 2026 at 11:24am (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
© 2026 Northwest Multiple Listing Service. All rights reserved.
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Listed by KC Coonc • Pacific Continental Realty LLC
Listing updated: February 5, 2026 at 11:24am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2477027
Bellingham is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Well-priced homes draw multiple offers; others sell close to asking.
List to sale price: The average home sells for about 1% below list price.
Time on market: The average home goes pending in around 22 days.
$570,000 Sold
4 weeks ago
•Single Family
521 W Holly Street, Bellingham, WA 98225
19%
Under list
—
Days on market
1.0 mi
Distance
$1,250,000 Sold
6 weeks ago
3 bd•2.5 ba•~2,580 sq ft•Single Family
3045 Eldridge Avenue #a, Bellingham, WA 98225
3%
Under list
—
Days on market
0.6 mi
Distance
$1,080,000 Sold
2 months ago
•Single Family
2730 Meridian Street, Bellingham, WA 98225
32%
Under list
—
Days on market
1.0 mi
Distance
$475,000 Sold
5 months ago
2 bd•1 ba•~1,066 sq ft•Single Family
2805 Walnut Street, Bellingham, WA 98225
0%
Over list
—
Days on market
0.8 mi
Distance
$525,000 Sold
6 months ago
•Single Family
2218 Jaeger Street, Bellingham, WA 98225
15%
Under list
—
Days on market
0.3 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Jun 2026
School information is unavailable for this listing. School boundaries can change, so verify the assigned schools with the district before purchasing.
