FOR SALE LINCOLN PHASE II 1243 LINCOLN STREET, BELLINGHAM, WASHINGTON ANDREW CLARKE Broker (425) 250-3286 andrew@fwp-inc.com STEVE ERICKSON Designated Broker (425) 822-5522 serickson@fwp-inc.com
Aerial View
EXECUTIVE SUMMARY Lincoln Phase II SUBJECT PROPERTY First Western Properties, Inc is pleased to present a fully permitted development opportunity at Lincoln Street Phase II in Bellingham. This site is 24,538 SF with full plans for a 4,670 SF building. Lincoln Street Retail is located adjacent to Fred Meyer and across the street from Whole Foods. There are 600+ apartment units directly behind the site and is near WWU. Lincoln Phase I is already constructed and features tenants such as Great Clips and Sunrise Health. Price includes full set of architectural plans, civil plans, and landscape plan. Building permit ready to pick up. Owner will consider selling both phases. Adjacent to Fred Meyer & Across from Whole Foods Includes All Plans & Permits! Property Name: Lincoln Phase II Opportunity Type: Commercial/Development Address: 1243 Lincoln Street Total Land Area: 24,538 SF Parcel Number: 380332010392 600+ Apartment Units Directly Behind Site Asking Price: $675,000 All information contained herein was prepared from information provided by the Owner of the property and neither First Western Properties, Inc. nor Owner makes any representation or warranties as to the accuracy or completeness of the information. The Buyer is strongly adviced to independently review all of the Due Dilligence Materials and consult with their own independent counsel in orderto determine the detail and accuracy.
PROPOSED SITE PLAN Lincoln Phase II All information contained herein was prepared from information provided by the Owner of the property and neither First Western Properties, Inc. nor Owner makes any representation or warranties as to the accuracy or completeness of the information. The Buyer is strongly adviced to independently review all of the Due Dilligence Materials and consult with their own independent counsel in orderto determine the detail and accuracy.
ZONING INFORMATION Property Zone: Commercial Planned Subarea 14 20.00.130 Purpose A. Generally. The planned use qualifier is intended for areas which are adaptable to flexible development and/or where review of pending development proposals is necessary to ensure that adequate provisions are taken to minimize possible detrimental effects. The planned use qualifier is intended to provide a procedural framework which: SUBJECT PROPERTY 1. Permits diversity in the location of types of structures; 2. Promotes the efficient use of land by facilitating a more economic arrangement of buildings, circulation systems, land use and utilities; 3. Preserves to the greatest extent possible the existing landscape features and amenities and utilizes such features in a harmonious fashion; 4. Addresses site-specific opportunities and concerns; 5. Lessens development impacts to adjacent areas through site design and necessary mitigating measures. C. Commercial. In addition to the above-stated general purpose, the planned commercial designation (PC) is intended to accommodate retail and personal service establishments of a citywide nature or regional nature and to provide flexible design standards which will ensure compatibility between the site and the development, as well as between the development and the surrounding area. Subarea 14: Commerical Planned contain one additional special condition: The creek should remain as a natural stormwater system area, freeway buffer, clearing. All information contained herein was prepared from information provided by the Owner of the property and neither First Western Properties, Inc. nor Owner makes any representation or warranties as to the accuracy or completeness of the information. The Buyer is strongly adviced to independently review all of the Due Dilligence Materials and consult with their own independent counsel in orderto determine the detail and accuracy.
LOCATION INFORMATION Location & Demographics Population 1 Mile Radius 3 Mile Radius 5 Mile Radius Estimated Population (2017) 15,861 77,052 101,920 Historical Annual Growth (2010-2017) 1.4% 1.1% 1.1% Estimated Population Density PSM (2017) 5,048 2,726 1,298 Households Estimated Households (2017) 6,683 32,530 43,091 Historical Annual Change (2000-2017) 2.0% 1.5% 1.8% Average Household Income Estimated Average Household Income (2017) $56,426 $69,797 $74,212 Projected Average Household Income (2022) $67,287 $81,749 $87,625 Historical Annual Change (2000-2017) 2.8% 3.4% 3.2% Median Household Income Estimated Median Household Income (2017) $43,764 $53,868 $56,947 Projected Median Household Income (2022) $51,010 $62,824 $66,589 Per Capita Income Estimated Per Capita Income (2017) $24,578 $29,929 $31,745 Estimated Average Household Net Worth (2017) $529,444 $677,220 $712,685 Daytime Demographics Total Businesses (2017) 1,642 4,894 6,306 Total Employees (2017) 13,278 45,872 61,912 Adjusted Daytime Demographics <16 18,742 71,533 95,704 BELLINGHAM, WA In 1903, four towns Fairhaven, Whatcom, Sehome, and Bellingham merged to create the Bellingham we know today. The City of Bellingham, which serves as the county seat of Whatcom County, is at the center of a uniquely picturesque area offering a rich variety of recreational, cultural, educational and economic activities. Excellence in education is a hallmark of their community. Nationally lauded K-12 public schools, two community colleges, and Western Washington University consistently ranked high among public regional universities all call Bellingham home. - City of Bellingham
REGIONAL AREA INFORMATION Foreign Direct Investment The Northwest region is built on the strength of industries competing in the knowledge-and international-based economy. In fact, foreign investment accounts for 3.7% of the state s private industry employment with foreign-controlled businesses employing over 91,000 Washington workers. Combine that with the superb quality of life in the Pacific Northwest, a world-class arts scene, professional sports teams, and culinary delights from some of the country s top chefs, and you ve got a great place to do business where your employees will be happy to call home. Our Region s Strengths Include» Strategic location with regard to the Pacific Rim» Nonstop international flights» Deep-water ports» Reliable transportation connection to the rest of the U.S.» Well-educated population» Strong business climate» Vibrant international communities» Vast experience in international trade ~ Economic Development Council
REGIONAL AREA INFORMATION Washington State, By the Numbers #1 Washington State s ranking for combined job and wage growth (ADP Workforce Vitality Report) based on strong employment and wage growth. #5 Washington state s ranking on the Best States overall Ranking based on Infrastructure, Health Care, Education, Opporuntity, Economy, Government, Crime & Corrections. With a score of 117.9 - topping the national average of 106.8. #4 Seattle s rank as a global startup hub, beating out New York City and Boston, due to the number of startups created, the talent pool, and infrastructure #2 Washington State s rank in the latest State New Economy Index published by the Information Technology and Innovation Foundation, based on our economy s reliance on innovation. Seattle ranking of #8 in the US for creating the most techonolgy jobs 2017 (Forbes)
ANDREW CLARKE Broker (425) 250-3286 andrew@fwp-inc.com STEVE ERICKSON Designated Broker (425) 822-5522 serickson@fwp-inc.com ADDRESS First Western Properties, Inc. 11621 97 Lane NE Kirkland, WA 98033 Office (425) 822-5522 Fax (425) 822-7440 WEB www.fwp-inc.com