Income-Generating Office/Retail Building For
For Sale
$2,400,000
717 Vandercook Way, Longview, WA 98632
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 Market965
Property Features for 717 Vandercook Way
General Information
Standard status
Active
Size
11,562 SF
Lot size
0.49 Acres
Listing Agency:
Woodford Commercial RE
Listed By:
Chris Roewe · License #23495
(360) 501-5500
Source:
Exprealty
Added: Feb 14, 2024
Changed: Oct 4
Last Checked: Oct 5 at 8:18PM
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 RE
Investment Insights
Based on property information with market context.
This two-story office and retail building offers approximately 11,562 square feet of space, divided into 7 individual spaces. The property benefits from a large parking lot and a rear parking easement. Its corner location provides excellent signage opportunities and high visibility. Most of the spaces have been updated in recent years. The property is offered at a 6.4% CAP Rate. Historically, the building has maintained low vacancy rates, and there is potential for rent increases upon lease renewals. This property is suitable for investment portfolios.
Key Highlights
- Prime corner location with excellent signage and visibility.
- Offered at a 6.4% CAP Rate with great potential upside.
- Historically low vacancy rates.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$189,552
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
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
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 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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Current Use
Location Intelligence
Trade Area within ½ mile
1,196
Businesses Nearby
Explore this area
Business Placement
Demographics for 98632, WA
50,721
Population
21,787
Households
2.3
Avg Household Size
41
Median Age
16%
College-Educated
90%
High-School Grad
121.4 sq mi
ZIP Area
418
Density / Sq Mi
$64,705
Median Household Income
$40,928
Median Earnings
$1,142
Median Rent
$355,200
Median Home Value
Check the figures for this property
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?
Office building - Two-story office/retail building with high visibility and income potential.
Where is this office building located?
The property is located at 717 Vandercook Way Longview, 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: Prime corner location with excellent signage and visibility.; Offered at a 6.4% CAP Rate with great potential upside.; Historically low vacancy rates.
