Income-Generating Office/Retail Building For
For Sale
Contact for pricing
717 Vandercook Way, Kelso, WA
Two-story office/retail building with high visibility and income potential.
Property Size11,562 SF
Lot Size0.49 Acres
Price / SF$207.58
Days on Market955
Property Features for 717 Vandercook Way
General Information
Standard status
Active
Size
11,562 SF
Lot size
0.49 Acres
Property subtype
RETAIL
Listing Agency:
Woodford Commercial Real Estate
(360) 501-5500
Listed By:
Chris Roewe · License #23495
(360) 556-5101
Source:
Moodyscre
Added: Feb 1, 2024
Changed: Sep 6
Last Checked: Sep 12 at 10:14AM
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 Woodford Commercial Real Estate
Investment Insights
Based on property information with market context.
This two-story building offers approximately 11,562 square feet of space, divided into 7 spaces. It features a large parking lot and a rear parking easement. The property benefits from a corner location that provides excellent signage and visibility. Most of the spaces have been updated in the past 5 years. The property is offered at a 6.4% CAP Rate. Historically, the building has experienced low vacancy rates, and there is potential for rent increases upon lease renewals. The property is suitable for office or retail use and could be an addition to an investment portfolio.
Key Highlights
- High‑visibility corner location with excellent signage.
- Strong income potential with an attractive 6.4% CAP Rate.
- Historically low vacancy rates.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$189,552
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,791,040
$3.8M
Cap Rate 7%
$2,707,886
$2.7M
Cap Rate 9%
$2,106,133
$2.1M
Market Conditions
NOI Build-Up for 11,562 SF
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.
Gross rent
$305.2K $26.40/SF
− Vacancy
−$52.5K −$4.54/SF
EGI
$252.7K $21.86/SF
− OpEx
−$63.2K −$5.46/SF
NOI
$189.6K $16.39/SF
Area
Cowlitz County, WA
Vacancy
17.20%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,791,040
Cap Rate 7%
$2,707,886
Cap Rate 9%
$2,106,133
Alternative Uses
Best Use
Office B
$2.71M
$2.37M – $3.16M
NOI $189,552 @ 7.0% cap · market cap 7.90%
Second Best
Retail
$1.99M
$1.74M – $2.33M
NOI $139,563 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$3.81M
$3.33M – $4.44M
NOI $266,655 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - Two-story office/retail building with high visibility and income potential.
Where is this shopping center located?
The property is located at 717 Vandercook Way Kelso, WA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: High‑visibility corner location with excellent signage.; Strong income potential with an attractive 6.4% CAP Rate.; Historically low vacancy rates.
