Laboratory-Built Flex
14401 SE 1st St, Vancouver, WA 98684
For Sale
Contact for pricing
Fully occupied by a medical testing operator, with laboratory, office, and storage areas.
Property Size35,175 SF
Price / SF$198.86
Days on Market19
Property Features for 14401 SE 1st St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Site & Location
Neighborhood
Warehouse & Industrial
Warehouse Space
Office Build-Out
Cold Storage
Additional Details
Tenant in Place
Property Use
Building Details
Buildings
Building Size
Construction
Tenancy
Listing Agency:
Kidder Mathews Portland
Listed By:
Zach Francis · License OR #200808026
(503) 221-2290
Source:
Crexi
Added: Oct 23
Changed: Nov 8
Last Checked: Nov 8 at 3:35PM
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 Kidder Mathews Portland
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Investment Insights
Based on property information with market context.
This 35,175 SF flex facility is fully leased to CareNexa, LLC, doing business as Molecular Testing Labs. The tenant has occupied the property for more than 10 years, with approximately 10 years remaining on its lease. Most of the building is configured for laboratory and office functions; about 5,000 SF is storage with grade-level loading. A 3,200 SF upper-level area includes office and conference space. The building dates to the 1990s and has steel construction, a metal roof, and a brick exterior. Site parking totals approximately 140 stalls.
Laboratory infrastructure includes two diesel backup generators, fuel tanks, battery backup and transfer systems, more than a dozen sinks and wash stations, a walk-in cooler, a nitrogen tank, and HVAC. An additional 40,000 SF of undeveloped area is available for potential development, parking, or yard storage, subject to city approval. The property is in Vancouver, Washington, and has industrial zoning.
Laboratory infrastructure includes two diesel backup generators, fuel tanks, battery backup and transfer systems, more than a dozen sinks and wash stations, a walk-in cooler, a nitrogen tank, and HVAC. An additional 40,000 SF of undeveloped area is available for potential development, parking, or yard storage, subject to city approval. The property is in Vancouver, Washington, and has industrial zoning.
Key Highlights
- 35,175 SF flex facility, fully leased to CareNexa, LLC DBA Molecular Testing Labs
- Approximately 10 years remain on the tenant’s lease; occupancy has exceeded 10 years
- About 5,000 SF of storage with grade‑level loading
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$317,831
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,356,620
$6.4M
Cap Rate 7%
$4,540,443
$4.5M
Cap Rate 9%
$3,531,456
$3.5M
Market Conditions
NOI Build-Up for 35,175 SF
Gross rent
$455.9K $12.96/SF
− Vacancy
−$1.8K −$0.05/SF
EGI
$454.0K $12.91/SF
− OpEx
−$136.2K −$3.87/SF
NOI
$317.8K $9.04/SF
Area
Vancouver, WA
Vacancy
0.40%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,356,620
Cap Rate 7%
$4,540,443
Cap Rate 9%
$3,531,456
Alternative Uses
Best Use
Industrial
$4.54M
$3.97M – $5.30M
NOI $317,831 @ 7.0% cap · market cap 4.54%
Second Best
Flex RnD
$4.22M
$3.69M – $4.92M
NOI $295,129 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$8.61M
$7.53M – $10.04M
NOI $602,443 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
758
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 98684, WA
33,659
Population
14,355
Households
2.3
Avg Household Size
37
Median Age
29%
College-Educated
90%
High-School Grad
7.1 sq mi
ZIP Area
4,741
Density / Sq Mi
$88,044
Median Household Income
$48,108
Median Earnings
$1,847
Median Rent
$442,100
Median Home Value
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Fully occupied by a medical testing operator, with laboratory, office, and storage areas.
Where is this flex space located?
The property is located at 14401 SE 1st St Vancouver, WA.
What is the asking price?
The asking price for this property is $6,995,000.
What are key features of this property?
This property features: 35,175 SF flex facility, fully leased to CareNexa, LLC DBA Molecular Testing Labs; Approximately 10 years remain on the tenant’s lease; occupancy has exceeded 10 years; About 5,000 SF of storage with grade‑level loading
