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Income-Generating Office/Retail Building For Sale

717 Vandercook Way, Longview, WA 98632

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For Sale

$2,400,000

Two-story office/retail building with high visibility and income potential.

Property size:

11,562 SF

Lot size:

0.49 Acres

Price / SF:

$207/SF

HighLights

Prime corner location with excellent signage and visibility.
Offered at a 6.4% CAP Rate with great potential upside.
Historically low vacancy rates.
Potential for rent increases upon lease renewals.
Tastefully updated spaces within the last 5 years.
Large parking lot with rear parking easement.

We can help!

Contact an agent

Chris Roewe

Learn more

For Sale

$2,400,000

Two-story office/retail building with high visibility and income potential.

Property size:

11,562 SF

Lot size:

0.49 Acres

Price / SF:

$207/SF

Added:: Jul 15, 2024
Days on Market:: 722
Last Refresh:: Jun 29 at 6:00 am

Property Features for 717 Vandercook Way

General Information

Standard status: Active
Size: 11,562 SF
Lot size: 0.49 Acres

We can help!

Contact an agent

Chris Roewe

Listing office Woodford Commercial RE

Listing date Jul 15, 2024

Source Exprealty

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 Woodford Commercial RE

HighLights

Prime corner location with excellent signage and visibility.
Offered at a 6.4% CAP Rate with great potential upside.
Historically low vacancy rates.
Potential for rent increases upon lease renewals.
Tastefully updated spaces within the last 5 years.
Large parking lot with rear parking easement.

Overview

This two-story office and retail building offers approximately 11,562 square feet of space, divided into 7 individual spaces. The property benefits from a large parking lot and a rear parking easement. Its corner location provides excellent signage opportunities and high visibility. Most of the spaces have been updated in recent years. The property is offered at a 6.4% CAP Rate. Historically, the building has maintained low vacancy rates, and there is potential for rent increases upon lease renewals. This property is suitable for investment portfolios.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$305.2k	$26.40
− Vacancy	−$52.5k	−$4.54
EGI	$252.7k	$21.86
− OpEx	−$63.2k	−$5.46
NOI	$189.6k	$16.39

11,562 SF · lease $26.40/SF/yr · vacancy 17.20% · expense 25.00%

Alternative Uses

Best Use

Office B

$2.71M

$2.37M – $3.16M (±1% cap)

NOI $189,552 @ 7.0% cap · market cap 7.90%

Second Best

Retail

$1.99M

$1.74M – $2.33M (±1% cap)

NOI $139,563 @ 7.0% cap · market cap 5.82%

Theoretical Best

Office A

$3.81M

$3.33M – $4.44M (±1% cap)

NOI $266,655 @ 7.0% cap · market cap 11.11%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Mina Mazz Beauty Hair Salon Mostly Moto Auto Parts Store La Paris Salon Hair Salon Artesanias Veracruz Clothing Store Richelle Gall - COUNTRY ... Insurance Agency

Suggested Use

Location Insight

Map
Local Demand

City: Longview
County: Cowlitz
State: Washington
Longitude: -122.924
Latitude: 46.1456

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Income-Generating Office/Retail Building For Sale

Two-story office/retail building with high visibility and income potential.

717 Vandercook Way, Longview, WA 98632

View Details

For sale
Office buildings
WA
Longview
98632
717 Vandercook Way

What type of property is this?

Office building - Two-story office/retail building with high visibility and income potential.

Where is this office building located?

The property is located at 717 Vandercook Way Longview, WA.

What is the asking price?

The asking price for this property is $2,400,000.

What are key features of this property?

This property features: Prime corner location with excellent signage and visibility.; Offered at a 6.4% CAP Rate with great potential upside.; Historically low vacancy rates.