Live-Work Property with Finished
For Sale
$435,000
7519 NE 51ST St, Vancouver, WA 98662
CommercialSale, Vancouver, WA
Property Size1,084 SF
Lot Size0.25 Acres
Price / SF$401.29
Days on Market11
Property Features for 7519 NE 51ST St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RAC
Directions
East on Vancouver Mall Drive, North on Thurston Way and west on 51st Street...................
Subdivision
_21
Standard status
Active
APN
108113000
Size
1,084 SF
Lot size
0.25 Acres
Additional Details
Property Use
Office
Taxes and HOA fees
Tax Description
JAGGY HD LOTS #4 LOT 12 .24A FOR ASSESSOR USE ONLY EXC CO RD PER
Tax Annual Amount
3452
Legal Description
JAGGY HD LOTS #4 LOT 12 .24A FOR ASSESSOR USE ONLY EXC CO RD PER
Amenities
large covered patio
storage shed
Building Details
Year built
1958
Floors in Building
1
Building materials
WoodSiding
Roof type
Composition
Buildings
2
Listing Agency:
Windermere Northwest Living · Windermere Real Estate
(360) 253-3600
Listed By:
Kimberly Sessions-Freund
(360) 606-6467
Added: Oct 20
Changed: Oct 30
Last Checked: Oct 30 at 4:06PM
MLS# 491312064
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.
The property pairs a 1,084-square-foot remodeled home with a separate finished, heated garage that has tile flooring, a bathroom, and its own entrance. The home includes refinished original hardwood floors, a wood-burning fireplace, an updated kitchen with quartz countertops and stainless steel appliances, and updated bathrooms. Recent improvements include a newer roof, electrical panel, water heater, and PEX plumbing.
Set on a fully fenced 1/4-acre lot, the property has RAC zoning. Site features include a circular driveway, ample parking, a large covered patio, a storage shed, and dedicated RV parking. The garage provides a distinct workspace alongside the residence, while any proposed business use or additional development remains subject to applicable approvals and due diligence.
Set on a fully fenced 1/4-acre lot, the property has RAC zoning. Site features include a circular driveway, ample parking, a large covered patio, a storage shed, and dedicated RV parking. The garage provides a distinct workspace alongside the residence, while any proposed business use or additional development remains subject to applicable approvals and due diligence.
Key Highlights
- RAC zoning
- 1,084‑square‑foot remodeled home on a fully fenced 1/4‑acre lot
- Separate finished, heated garage with tile flooring, bathroom, and its own entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,504
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$290,080
$290.1K
Cap Rate 7%
$207,200
$207.2K
Cap Rate 9%
$161,156
$161.2K
Market Conditions
NOI Build-Up for 1,084 SF
Gross rent
$25.0K $23.04/SF
− Vacancy
−$1.8K −$1.63/SF
EGI
$23.2K $21.41/SF
− OpEx
−$8.7K −$8.03/SF
NOI
$14.5K $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%
$290,080
Cap Rate 7%
$207,200
Cap Rate 9%
$161,156
Alternative Uses
Best Use
Mixed Use
$207.2K
$181.3K – $241.7K
NOI $14,504 @ 7.0% cap · market cap 3.33%
Second Best
Office B
$199.4K
$174.5K – $232.7K
NOI $13,961 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$265.2K
$232.1K – $309.4K
NOI $18,566 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,155
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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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?
Live-work space - RAC zoning, a separate heated garage, and residential improvements support a flexible live-work configuration.
Where is this live-work space located?
The property is located at 7519 NE 51ST St Vancouver, WA.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: RAC zoning; 1,084‑square‑foot remodeled home on a fully fenced 1/4‑acre lot; Separate finished, heated garage with tile flooring, bathroom, and its own entrance
