Leased NNN Retail
6115 NE 114th Ave Vancouver, WA 98662
For Sale
Contact for pricing
Orchards Square is a 5-tenant, 100% leased NNN retail investment with an 11,865 SF building.
Property Size11,865 SF
Lot Size1.38 Acres
Price / SF$349.77
Days on Market10
Property Features for 6115 NE 114th Ave
General Information
Standard status
Active
Size
11,865 SF
Lot size
1.38 Acres
Property subtype
Retail
Building Details
Year Built
2005
Listing Agency:
Capacity Commercial Group
(503) 222-2655
Listed By:
Nicholas Diamond · License #OR 200403266
Source:
Crexi
Added: Jul 21
Changed: Jul 28
Last Checked: Jul 29 at 4:27PM
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 Capacity Commercial Group
Investment Insights
Based on property information with market context.
Orchards Square is a 100% leased NNN retail investment asset offered for sale with five tenants. The property totals 11,865 SF and is presented as an income-producing retail holding under a net lease structure.
The asset is located at 6115 NE 114th Ave in Vancouver, WA 98662. The offering includes a 1.38-acre lot.
This transaction is listed at $4,150,000 with a stated 6.25% cap rate and $259,178 in NOI.
The asset is located at 6115 NE 114th Ave in Vancouver, WA 98662. The offering includes a 1.38-acre lot.
This transaction is listed at $4,150,000 with a stated 6.25% cap rate and $259,178 in NOI.
Key Highlights
- NNN retail investment asset with 5 tenants, fully leased (100% leased)
- 11,865 SF building on 1.38 AC
- Year built: 2005
Financial Insights For Retail
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 | $213.6k | $18.00 |
| − Vacancy | −$13.5k | −$1.13 |
| EGI | $200.1k | $16.87 |
| − OpEx | −$60.0k | −$5.06 |
| NOI | $140.1k | $11.81 |
11,865 SF · lease $18.00/SF/yr · vacancy 6.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.00M
$1.75M – $2.33M
NOI $140,081 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.90M
$2.54M – $3.39M
NOI $203,212 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Orchards Market Center — 11273 NE Fourth Plain Blvd, Vancouver, WA 98662
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- Coinstar Kiosk | Bitcoin ATM — Kroger - Fred Meyer Inc, 7411 NE 117th Ave, Vancouver, WA 98662
Frequently Asked Questions
What type of property is this?
Shopping center - Orchards Square is a 5-tenant, 100% leased NNN retail investment with an 11,865 SF building.
Where is this shopping center located?
The property is located at 6115 NE 114th Ave Vancouver, WA.
What is the asking price?
The asking price for this property is $4,150,000.
What are key features of this property?
This property features: NNN retail investment asset with 5 tenants, fully leased (100% leased); 11,865 SF building on 1.38 AC; Year built: 2005
