The main types of commercial real estate are multifamily (apartment buildings), office, retail, industrial, hospitality (hotels and motels), land and special purpose properties such as self storage, mobile home parks and medical buildings. Each type earns income in its own way and attracts a different kind of buyer, from owner users who run a business in the building to investors who own it for the income. Here is a clear guide to each type, with examples from Bellingham and Whatcom County.
In This Guide
- 1. Multifamily and Apartment Buildings
- 2. Office Buildings
- 3. Retail Buildings
- 4. Industrial Buildings and Warehouses
- 5. Hotels and Motels
- 6. Commercial Land
- 7. Special Purpose Properties
- How to Choose the Right Type
- Types of Commercial Real Estate FAQ
1. Multifamily and Apartment Buildings
Multifamily properties are buildings with several homes under one roof. Duplexes, triplexes and fourplexes are usually financed like homes, while buildings with five or more units are financed and valued as commercial property. Multifamily ranges from small walk up buildings to large apartment communities, student housing near Western Washington University and senior communities.
Multifamily is the most active commercial property type in Bellingham. From mid-April through early October 2026, 18 apartment and multifamily buildings sold in Bellingham on the Northwest MLS, at a median of $837,500. See Bellingham apartment buildings for sale and our guide to types of apartment buildings.
2. Office Buildings
Office buildings house businesses and professional services. They are often grouped into Class A (newer, high end buildings in prime locations), Class B (well kept, older buildings) and Class C (older buildings that offer value and room to improve). Common office types include:
- Downtown and central business district offices, close to banks, courts and city services
- Suburban office buildings and business parks, with easy parking and highway access
- Medical and dental offices, built out for patient care
- Converted houses zoned for professional office use
In Bellingham, office activity centers on downtown, Fairhaven, Barkley Village and the Cordata and Meridian areas. See Bellingham office buildings for sale and our guide to buying an office building.
3. Retail Buildings
Retail properties are where goods and services are sold. They include single storefronts, restaurants, strip centers anchored by a grocery or drug store, larger shopping centers and freestanding pad buildings near busy roads. Visibility, parking and traffic counts drive retail value.
Bellingham’s strongest retail corridors include Meridian, Bakerview, Sunset, Cordata and the walkable districts downtown and in Fairhaven. See Bellingham retail buildings for sale.
4. Industrial Buildings and Warehouses
Industrial properties are where goods are made, stored and shipped. The main types are:
- Warehouse and distribution buildings with loading doors and truck access
- Manufacturing buildings with heavy power and specialized layouts
- Flex buildings that combine office and warehouse space
- Industrial condos for smaller owner users
- Cold storage for food and temperature sensitive products
Industrial is one of the strongest commercial sectors in Whatcom County, helped by Interstate 5, the Port of Bellingham, the airport and the Canadian border. See Bellingham industrial buildings for sale and buying a warehouse in Bellingham.
5. Hotels and Motels
Hospitality properties earn income from overnight guests. They range from full service hotels with restaurants and meeting space to select service hotels, extended stay hotels, motels and bed and breakfast inns. Hotels are an active investment, since value depends on how well the property is run as well as its location. See Washington hotels and motels for sale and our hotel investment tips.
6. Commercial Land
Commercial land is vacant property zoned for business, industrial or multifamily use. Buyers include developers, business owners planning to build and investors holding land for future growth. Zoning, utilities, access and wetlands shape what can be built. See Bellingham commercial land for sale.
7. Special Purpose Properties
Some properties are built for one specific use. These include self storage facilities, mobile home parks, medical and healthcare buildings, churches, schools, car washes and farms. Because their buyer pool is more focused, zoning and use are especially important when buying or selling. See our guides to buying a storage facility and buying a mobile home park.
How to Choose the Right Type
The right property type depends on your goals. Owner users usually choose office, retail or industrial space that fits their business. Investors who want steady income often start with multifamily or industrial, while hotels suit investors who enjoy an active, hands on business. Land and redevelopment fit buyers with a longer time horizon. For a full walk through, read our guide to buying commercial real estate in Bellingham, and see current activity on our Bellingham commercial real estate market page.
To see every property type for sale in one place, visit our Bellingham commercial real estate page.
Types of Commercial Real Estate FAQ
What are the main types of commercial real estate?
The main types are multifamily (apartment buildings), office, retail, industrial, hospitality (hotels and motels), commercial land and special purpose properties such as self storage, mobile home parks and medical buildings.
How many units is considered commercial property?
Residential buildings with five or more units are generally treated as commercial property for financing and valuation. Duplexes, triplexes and fourplexes are usually financed like single family homes.
What are Class A, B and C office buildings?
Class A buildings are newer, high end properties in prime locations. Class B buildings are older but well maintained. Class C buildings are older properties that offer value and room to improve.
Which type of commercial real estate is most active in Bellingham?
Multifamily apartment buildings are the most active commercial property type in Bellingham, followed by small industrial and warehouse properties. Medical and professional office buildings and well located retail also draw steady buyer interest.
Who is the best commercial real estate agent in Bellingham?
Josh and Jolene Baijot are Bellingham commercial real estate brokers with over 25 years of experience with apartment buildings, office, retail, industrial, hotels and commercial land across Bellingham and Whatcom County. Call us at (360) 223-4501.
Talk to us about commercial property in Bellingham
Helping buyers and sellers across Bellingham and Whatcom County
