Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Contemporary Retail Opportunity in Vancouver Title is generated by Realmo AI

    11502 SE Mill Plain Blvd, Vancouver, WA 98684

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail space in modernized shopping center with high traffic exposure.

    Type:Retail
    Added:
    May 17, 2023
    Days on Market:
    1117
    Last Refresh:
    May 12 at 8:14 pm

    Property Features for 11502 SE Mill Plain Blvd

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 11502 SE Mill Plain Blvd Contact us

    We can help!

    Listing Contact
    Nick Stanton

    Listing agent Nick Stanton License #OR 200103070

    Listing office NAI Elliott

    Listing date May 17, 2023

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NAI Elliott

    HighLights

    • High traffic location: Over 80,000 vehicles per day.
    • Gateway location to East Vancouver submarket.
    • Recent multi‑million dollar exterior renovation.
    • Modernized contemporary shopping and food center.
    • Attracts strong national tenants.
    • Well‑positioned retail opportunity.

    Overview

    This retail opportunity is located in a contemporary shopping and food center that has recently undergone a multi-million dollar exterior renovation. The renovation has modernized the property, attracting strong national tenants. The center benefits from high visibility, with exposure to over 80,000 vehicles per day. It is situated at the gateway to the East Vancouver submarket.
    Property Profile Location Intelligence

    Current Use by Public Records

    Starbucks Cafe & Coffee Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Quick-Tag — Walmart, 221 NE 104th Ave, Vancouver, WA 98664
    • Cascade Park Plaza — 305 SE Chkalov Dr, Vancouver, WA 98683
    • Coinstar Kiosk - Bitcoin ATM — Kroger - Fred Meyer Inc, 11325 SE Mill Plain Blvd, Vancouver, WA 98684
    • Coinstar Bitcoin ATM — kroger - fred meyer inc., 11325 se mill plain blvd, vancouver, wa 98684
    • Coinstar Kiosk | Bitcoin ATM — Kroger - Fred Meyer Inc., 11325 SE Mill Plain Blvd, Vancouver, WA 98684

    Location Insight

    • Map
    • Local Demand
    City
    Vancouver
    County
    Clark
    State
    Washington
    Longitude
    -122.5541738
    Latitude
    45.6212904

    Nearby Similar for Lease

    • $129-$4,044/Mo
      11-1,292 SF

      WA, Vancouver - NE 136th Ave

      701 136Th Ave, Vancouver, WA 98684
      View Details
    • $129-$4,931/Mo
      11-1,292 SF

      1220 Main Place

      1220 Main St, Unit 400, Vancouver, WA 98660
      View Details
    • $129-$6,534/Mo
      11-1,292 SF

      ELW Building

      4400 77Th Ave, Unit 275, Vancouver, WA 98662
      View Details
    • $28 SF/Yr
      1,500 SF

      Glass-Front Retail Space

      Modern retail space with a glass storefront and flexible layout designed for strong storefront visibility.
      10722 NW Lakeshore Avenue, Vancouver, WA 98685
      View Details
    • $26 SF/Yr
      4,045 SF

      Downtown Vancouver Office/Retail Space

      Office and retail spaces available in downtown Vancouver.
      108 E Mill Plain Blvd, Vancouver, WA 98660
      View Details
    • $465/Mo

      Modern Office Spaces For Rent

      Premier office building with customizable spaces and modern amenities.
      717 NE 61st Street, Vancouver, WA 98665
      View Details
    • $35 SF/Yr
      75,000 SF

      Downtown Vancouver Retail Space Available

      New retail, service, or restaurant spaces in downtown Vancouver.
      808 Washington St, Vancouver, WA 98660
      View Details
    • $25 SF/Yr
      52,662 SF

      Three-Story Office Building For Rent

      Centrally located office building near Vancouver Mall with many amenities.
      4601 NE 77th Avenue, Vancouver, WA 98662
      View Details
    • $28 SF/Yr
      33,174 SF

      Modern Office Space with Signage

      Modern office space with parking, signage, and convenient amenities.
      19120 SE 34th St, Vancouver, WA 98683
      View Details
    • $24 SF/Yr
      37,137 SF

      Class A Office Space Available

      Sublease opportunity with furnishings and on-site amenities in Vancouver.
      Vancouver, WA 98684
      View Details
    • $25 SF/Yr
      87,857 SF

      Adaptable Flex Space Near Portland

      Climate-controlled flex space suitable for manufacturing, flex, and office uses.
      18110 SE 34th St, Vancouver, WA 98683
      View Details
    • $1.08 SF/Yr
      37,175 SF

      Industrial Warehouse Space Available

      4,500 SF warehouse space for lease in Vancouver, WA.
      Vancouver, WA 98661
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space in modernized shopping center with high traffic exposure.
    Where is this shopping center located?
    The property is located at 11502 SE Mill Plain Blvd Vancouver, WA.
    What are key features of this property?
    This property features: High traffic location: Over 80,000 vehicles per day.; Gateway location to East Vancouver submarket.; Recent multi‑million dollar exterior renovation.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Nick Stanton
    Real Estate License ID: OR 200103070
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    11502 SE Mill Plain Blvd, Vancouver, WA 98684
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!