NNN Leased Retail Investment
11608 Northeast 76th Street Vancouver, WA 98662
For Sale
$6,900,000
NNN-leased Floor & Decor investment property in Vancouver, Washington.
Property Size49,975 SF
Price / SF$138.07
Days on Market182
Property Features for 11608 Northeast 76th Street
General Information
Standard status
Active
Size
49,975 SF
Property subtype
Retail
Building Details
Year Built
1989
Listing Agency:
HSM Pacific Retail Solutions
(503) 747-9586
Listed By:
Ashton Summers · License ##990500125
(503) 747-9586
Source:
Corfac
Added: Jan 26
Changed: Jul 6
Last Checked: Jun 26 at 12:29PM
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 HSM Pacific Retail Solutions
Investment Insights
Based on property information with market context.
This is an opportunity to acquire a fee simple interest in a NNN-leased Floor & Décor investment property in Vancouver, Washington. Floor & Décor Outlets of America, Inc. has signed a 15-year lease with four 5-year options to extend. The lease is NNN, with landlord responsibilities limited to the repair and replacement of the roof and structure. The tenant paid for all recent renovations to the property. The property is located at the intersection of NE 76th Street and NE 117th Ave, with a combined average of approximately 22,000 vehicles passing the site per day. Floor & Décor sought this location as a strategic alignment with the neighboring Lowe’s. The property is a newly remodeled corporate-guaranteed investment property. The tenant is an expanding national tenant. The property size is 49,975 square feet. Vancouver, Washington, located in Clark County, is a dynamic city within the Portland-Vancouver metropolitan area. As of 2024, Clark County’s estimated population is 525,563, reflecting steady growth at 0.85% over the past year. Vancouver itself is home to approximately 191,000 residents. The tenant's commitment to the site is demonstrated by a 2025 remodel.
Key Highlights
- NNN‑leased property with a corporate guarantee from Floor & Décor (NYSE: FND).
- 15‑year lease term with four 5‑year options, indicating long‑term tenant commitment.
- Strategic location next to the #2 Lowe's store in Washington, per Placer.ai, creating synergy and high traffic.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $899.6k | $18.00 |
| − Vacancy | −$56.7k | −$1.13 |
| EGI | $842.9k | $16.87 |
| − OpEx | −$252.9k | −$5.06 |
| NOI | $590.0k | $11.81 |
49,975 SF · lease $18.00/SF/yr · vacancy 6.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$8.43M
$7.38M – $9.83M
NOI $590,015 @ 7.0% cap · market cap 8.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.23M
$10.70M – $14.27M
NOI $855,923 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Cfm — 11806 ne 65th st, vancouver, wa 98662
- Contract Furnishings Mart — 11806 NE 65th St, Vancouver, WA 98662
- Lowe's Home Improvement — 11413 NE 76th St, Vancouver, WA 98662
- Cabinets at Contract Furnishings Mart — 11806 NE 65th St, Vancouver, WA 98662
- Eclectic Stone or Tile — NE 71st St, Vancouver, WA 98682
Frequently Asked Questions
What type of property is this?
Showroom - NNN-leased Floor & Decor investment property in Vancouver, Washington.
Where is this showroom located?
The property is located at 11608 Northeast 76th Street Vancouver, WA.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: NNN‑leased property with a corporate guarantee from Floor & Décor (NYSE: FND).; 15‑year lease term with four 5‑year options, indicating long‑term tenant commitment.; Strategic location next to the #2 Lowe's store in Washington, per Placer.ai, creating synergy and high traffic.
