Office Building with Approved
3506 MAIN St Vancouver, WA 98663
New
3506 MAIN St, Vancouver, WA, 98663
$989,000
For Sale
$989,000
MULTI_FAMILY - Vancouver, WA
Property Size3,514 SF
Lot Size0.28 Acres
Price / SF$281.45
Days on Market2
Property Features for 3506 MAIN St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-22
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 3, Bathroom 2
- Standard status
- Active
- APN
- 010780000
- Lot size
- 0.28 Acres
Taxes and HOA fees
- Tax Description
- CHUMASERO HEIGHTS ADJ LOTS 6, 7 & 8 BLK 12 FOR ASSESSOR USE ONLY
- Tax Annual Amount
- 3482
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1939
- Number of units
- 9
- Roof type
- Composition
Listing Agency
Keller Williams Realty
(360) 693-3336
2211 E Mill Plain Blvd, Vancouver, WA
Listed by
Jeff Wunder · License #104052
(360) 931-1178
Added: Jul 17 Checked: Jul 18 at 1:06 am
MLS# 243213175
Listing URL
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property is currently operating as a fully leased office building with 3,514 SF. The site also has 2023/2024 permitting in place for a 9-unit apartment project that includes 3,548 SF of ground-floor commercial space.
The property is located at 3506 Main St in Vancouver, Washington, on a 0.28-acre lot and is zoned R-22.
The approved apartment and ground-floor commercial configuration provides an established development path for an owner looking to execute the current permitted plan.
The property is located at 3506 Main St in Vancouver, Washington, on a 0.28-acre lot and is zoned R-22.
The approved apartment and ground-floor commercial configuration provides an established development path for an owner looking to execute the current permitted plan.
Key Highlights
- Fully leased 3,514 SF office building
- Permitted (2023/2024) for a 9‑unit apartment project with 3,548 SF of ground‑floor commercial space
- Recent building code updates removed unit count limitations on the site
Local Financial Insights For Office B
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 | $64.9k | $18.48 |
| − Vacancy | −$4.6k | −$1.31 |
| EGI | $60.3k | $17.17 |
| − OpEx | −$15.1k | −$4.29 |
| NOI | $45.3k | $12.88 |
3,514 SF · lease $18.48/SF/yr · vacancy 7.08% · expense 25.00%
Alternative Uses
Best Use
Office B
$646.5K
$565.7K – $754.3K
NOI $45,256 @ 7.0% cap · market cap 4.58%
Second Best
Retail
$592.7K
$518.6K – $691.5K
NOI $41,487 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$859.8K
$752.3K – $1.00M
NOI $60,184 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Lindgren Kelvin A MD
Physician
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Fully leased office building with 2023/2024 permits for a 9-unit apartment project plus ground-floor commercial space.
Where is this apartment building located?
The property is located at 3506 MAIN St Vancouver, WA.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Fully leased 3,514 SF office building; Permitted (2023/2024) for a 9‑unit apartment project with 3,548 SF of ground‑floor commercial space; Recent building code updates removed unit count limitations on the site
