Office Building with
New
For Sale
$419,500
6007 NE 109TH Ave, Vancouver, WA 98662
CommercialSale, Vancouver, WA
Property Size1,499 SF
Lot Size0.12 Acres
Price / SF$279.85
Days on Market3
Property Features for 6007 NE 109TH Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC
Directions
Covington & NE Rosewood Ave
Subdivision
_21
Standard status
Active
APN
109020000
Size
1,499 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
ORCHARD PARK #1 LOT 15 BLK 3 LOT 16 FOR ASSESSOR USE ONLY LOT 16
Tax Annual Amount
4052
Legal Description
ORCHARD PARK #1 LOT 15 BLK 3 LOT 16 FOR ASSESSOR USE ONLY LOT 16
Building Details
Year built
1952
Floors in Building
1
Building materials
LapSiding, T111Siding
Roof type
Composition
Listing Agency:
Keller Williams Realty
(360) 693-3336
Listed By:
Melanie Goff
(360) 433-5187
Added: Sep 22
Last Checked: Sep 24 at 7:06AM
MLS# 507485711
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 single-level office property at 6007 NE 109TH Ave combines a practical layout with several upgraded features. The 1,499-square-foot building includes a bright entry and central living area adaptable to reception, meetings, waiting, or collaborative office use. Refinished maple flooring, new interior and exterior paint, quartz kitchen countertops, stainless steel appliances, and a new range provide a refreshed setting. A front heated storage room has its own entrance, while completed electrical improvements add functional utility.
A recently added oversized one-car garage is reached from the rear alley and can support secured parking, storage, or additional work area. The property also includes a fenced back yard, covered patio, storage shed, and additional parking areas shared with neighboring businesses. Built in 1952 on 0.12 acres, the property is zoned General Commercial (GC). Potential professional office, financial services, nonprofit, daycare, small business, and other permitted commercial uses should be confirmed with the appropriate jurisdiction.
A recently added oversized one-car garage is reached from the rear alley and can support secured parking, storage, or additional work area. The property also includes a fenced back yard, covered patio, storage shed, and additional parking areas shared with neighboring businesses. Built in 1952 on 0.12 acres, the property is zoned General Commercial (GC). Potential professional office, financial services, nonprofit, daycare, small business, and other permitted commercial uses should be confirmed with the appropriate jurisdiction.
Key Highlights
- 1,499‑square‑foot single‑level office building on 0.12 acres
- General Commercial (GC) zoning
- Oversized one‑car garage added at the rear with alley access
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 - Single-level office property with GC zoning, updated interiors, secured garage access, and flexible workspace areas.
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‑foot single‑level office building on 0.12 acres; General Commercial (GC) zoning; Oversized one‑car garage added at the rear with alley access
