323 Telegraph Road Bellingham, WA $ 5,600,000
323 Telegraph Road
$ 5,600,000
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323 Telegraph Road

Bellingham, WA, 98226
$ 5,600,000
Bedrooms-- Baths--

Monthly Estimate*

$ 35,359

Listed by Muljat Group
323 Telegraph Road, Bellingham, WA 98226 - Image 1
323 Telegraph Road, Bellingham, WA 98226 - Image 2
323 Telegraph Road, Bellingham, WA 98226 - Image 3
323 Telegraph Road, Bellingham, WA 98226 - Image 4
323 Telegraph Road, Bellingham, WA 98226 - Image 5
323 Telegraph Road, Bellingham, WA 98226 - Image 6
323 Telegraph Road, Bellingham, WA 98226 - Image 7
323 Telegraph Road, Bellingham, WA 98226 - Image 8
323 Telegraph Road, Bellingham, WA 98226 - Image 9

Commercial Property for sale in Bellingham, WA

for $5,600,000. This building was built in 1986 on a lot size of 1.87.

Fully leased multi-tenant commercial building in Bellingham’s Meridian neighborhood, sitting just off the Meridian St/I-5 interchange near major retailers like Target, Marshalls, and Home Depot. Meridian Place hosts a diversified roster of medical, technology, government, and retail-service tenants including Eyes Rite Optical, Team Technology, and the U.S. Army Corps of Engineers. A long history of tenant retention reflects a stable, well-managed asset with dependable in-place income. Located on a lot with ample on-site parking and access off both Telegraph Road and McLeod Road. Plus, Meridian Street carries nearly 39,000 vehicles a day directly past the property, with I-5 running over 60,000 vehicles daily just around the corner. An attractive long-term investment opportunity and easy addition to any portfolio!

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Commercial Active

Price

$ 5,600,000

Property Type

Commercial

Taxes

$ 30,368

Style

Comm Bldg Ovr 10K

Lot Size

1.87

Year Built

1986

Town/City

Bellingham

County/Region

Whatcom

MLS | Web ID

2554460

Features
General
Living Area 0
Sewer Sewer Connected
Cooling Central Air
Possession Closing
HOA Fee 0
Year Built 1986
Property Subtype Commercial Industrial
Tax Year 2025
County Whatcom
Net Operating Income 366998
Property Type Commercial Sale
HOA N
Subdivision Name Bellingham
Possible Use Commercial
Special Listing Conditions None
Status Active
Directions From 1-5 take exit 256A to WA-539 N/Meridian St. Merge onto WA-539 N/Meridian St. Turn onto Telegraph Rd. Property will be on right. Access from Telegraph Rd or McLeod Rd.
City Bellingham
Senior Community Y/N N
Zoning Description Commercial
Number Of Units Total 11
MLS Area 860 - Bellingham
Lot Size Units Square Feet
Lot Size Square Feet 81457
Carport Y/N N
Listing Terms Cash Conventional
Tax Annual Amount 30368.23
Property Condition Average
Public Remarks Fully leased multi-tenant commercial building in Bellinghams Meridian neighborhood sitting just off the Meridian St/I-5 interchange near major retailers like Target Marshalls and Home Depot. Meridian
Structure Type Unspecified
Building Area Units Square Feet
Standard Status Active
Total Actual Rent 32003
Property Style 61 - Comm Bldg Ovr 10K
Cap Rate 6.55
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Exterior
Exterior Amenities Cement/Concrete
Water Source Public
Total Parking 0
Building Area Total 0
Lot Size Acres 1.87
Irrigation Water Rights Y/N N
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Interior
Total Fireplaces 0
Air Conditioning Y/N Y
Heating Y/N N
Fireplace Y/N N
Baths Three Quarter Upper 0
Bedrooms Upper 0
Baths Half Upper 0
Baths Full Upper 0
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Internal Only
OriginalMLSID NWM2554460
Street Number 1 323
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* Excluded Features
List By
Troy C. Muljat

Listing Agent

Muljat Group

Broker

Affordability Calculator

$37,890
Per Month
93%
7%
0%
Monthly Principal & Interest
$35,359
Monthly Property Taxes
$2,531
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
258624 Elementary School
258775 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
7/17/2026$5,600,000 Listed Price

Map


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323 Telegraph Road, Bellingham, WA, 98226 is a Commercial Property for sale at $5,600,000 with a lot size of 1.87. 323 Telegraph Road was built in 1986. The property's zip code is 98226 which is in Bellingham, WA