Mixed-Use Property with Apartment
For Sale
$899,900
3506 MAIN St, Vancouver, WA 98663
MultiFamily, Vancouver, WA
Property Size3,514 SF
Lot Size0.28 Acres
Price / SF$256.09
Days on Market94
Property Features for 3506 MAIN St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-22
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 1
Elementary school
Lincoln
Middle school
Discovery
High school
Hudsons Bay
Directions
Corner of Main Street and E 35th Street
Subdivision
_11
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
Legal Description
CHUMASERO HEIGHTS ADJ LOTS 6, 7 & 8 BLK 12 FOR ASSESSOR USE ONLY
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
Listed By:
Jeff Wunder · License #104052
(360) 931-1178
Added: Jul 17
Changed: Oct 17
Last Checked: Oct 18 at 12:06AM
MLS# 243213175
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.
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Investment Insights
Based on property information with market context.
This mixed-use property includes a 3,514 SF office building constructed in 1939. The building is fully leased and features forced-air heating, central air conditioning, and a composition roof. The site encompasses 0.28 acres and carries R-22 zoning.
Permits issued in 2023/2024 support a redevelopment plan for 9 apartment units above 3,548 SF of ground-floor commercial space. The property is located at 3506 MAIN St in downtown Vancouver, Washington, within Clark County. Existing office operations provide an interim use while the approved residential and commercial concept is evaluated.
Permits issued in 2023/2024 support a redevelopment plan for 9 apartment units above 3,548 SF of ground-floor commercial space. The property is located at 3506 MAIN St in downtown Vancouver, Washington, within Clark County. Existing office operations provide an interim use while the approved residential and commercial concept is evaluated.
Key Highlights
- 3,514 SF office building, built in 1939, with full lease occupancy
- 0.28‑acre site with R‑22 zoning
- Permitted 2023/2024 for 9 apartment units and 3,548 SF of ground‑floor commercial space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,019
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$940,380
$940.4K
Cap Rate 7%
$671,700
$671.7K
Cap Rate 9%
$522,433
$522.4K
Market Conditions
NOI Build-Up for 3,514 SF
Gross rent
$81.0K $23.04/SF
− Vacancy
−$5.7K −$1.63/SF
EGI
$75.2K $21.41/SF
− OpEx
−$28.2K −$8.03/SF
NOI
$47.0K $13.38/SF
Area
Vancouver, WA
Vacancy
7.08%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$940,380
Cap Rate 7%
$671,700
Cap Rate 9%
$522,433
Alternative Uses
Best Use
Mixed Use
$671.7K
$587.7K – $783.7K
NOI $47,019 @ 7.0% cap · market cap 5.22%
Second Best
Office B
$646.5K
$565.7K – $754.3K
NOI $45,256 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$859.8K
$752.3K – $1.00M
NOI $60,184 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
814
Businesses Nearby
Explore this area
Business Placement
Demographics for 98663, WA
15,188
Population
6,753
Households
2.2
Avg Household Size
39
Median Age
32%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
3,704
Density / Sq Mi
$84,590
Median Household Income
$47,747
Median Earnings
$1,538
Median Rent
$430,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Leased office building with permitted plans for apartments and ground-floor commercial space.
Where is this mixed-use property located?
The property is located at 3506 MAIN St Vancouver, WA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 3,514 SF office building, built in 1939, with full lease occupancy; 0.28‑acre site with R‑22 zoning; Permitted 2023/2024 for 9 apartment units and 3,548 SF of ground‑floor commercial space
