Single-Level Office
New
For Sale
$419,500
6007 NE 109th AVE, Vancouver, WA 98662
GC zoning and adaptable interior rooms support a range of commercial configurations, subject to jurisdictional approval.
Property Size1,499 SF
Price / SF$279.85
Days on Market4
Property Features for 6007 NE 109th AVE
General Information
Standard status
Active
Size
1,499 SF
Property subtype
Commercial
Zoning
GC
Building Details
Year Built
1952
Listing Agency:
Jmg - Jason Mitchell Group
Listed By:
Donna Roberts
(360) 844-3142
Source:
Donnarobertsgroup
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 6:36AM
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 Jmg - Jason Mitchell Group
Investment Insights
Based on property information with market context.
This 1,499-square-foot office property in Vancouver has a single-level layout and was built in 1952. Refinished maple flooring, updated kitchen finishes, and fresh interior and exterior paint are among the improvements. A heated front storage room has a separate entrance, while the oversized one-car garage is reached from the rear alley. The site also includes a fenced yard, covered patio, storage shed, and parking areas shared with neighboring businesses.
Zoned General Commercial (GC), the property has completed electrical improvements and a roof that is less than 10 years old. The address is 6007 NE 109th Ave. Intended uses should be confirmed with the appropriate jurisdiction.
Zoned General Commercial (GC), the property has completed electrical improvements and a roof that is less than 10 years old. The address is 6007 NE 109th Ave. Intended uses should be confirmed with the appropriate jurisdiction.
Key Highlights
- 1,499 square feet; built in 1952
- General Commercial (GC) zoning
- Single‑level layout with refinished maple floors and updated kitchen
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
$19,305
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
4.60%
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%
$386,100
$386.1K
Cap Rate 7%
$275,786
$275.8K
Cap Rate 9%
$214,500
$214.5K
Market Conditions
NOI Build-Up for 1,499 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
$27.7K $18.48/SF
− Vacancy
−$2.0K −$1.31/SF
EGI
$25.7K $17.17/SF
− OpEx
−$6.4K −$4.29/SF
NOI
$19.3K $12.88/SF
Area
Vancouver, WA
Vacancy
7.08%
Lease Rate
$18.48 /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%
$386,100
Cap Rate 7%
$275,786
Cap Rate 9%
$214,500
Alternative Uses
Best Use
Office B
$275.8K
$241.3K – $321.8K
NOI $19,305 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$366.8K
$320.9K – $427.9K
NOI $25,673 @ 7.0% cap · market cap 6.12%
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
913
Businesses Nearby
Explore this area
Business Placement
Demographics for 98662, WA
37,134
Population
14,609
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
90%
High-School Grad
13.0 sq mi
ZIP Area
2,856
Density / Sq Mi
$91,883
Median Household Income
$45,847
Median Earnings
$1,685
Median Rent
$424,200
Median Home Value
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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 - GC zoning and adaptable interior rooms support a range of commercial configurations, subject to jurisdictional approval.
Where is this office building located?
The property is located at 6007 NE 109th AVE Vancouver, WA.
What is the asking price?
The asking price for this property is $419,500.
What are key features of this property?
This property features: 1,499 square feet; built in 1952; General Commercial (GC) zoning; Single‑level layout with refinished maple floors and updated kitchen
