Building Details

Building Size 21,400 SF

Year Built 2010

Buildings 2

Owner Occupied Yes

Listing Agency: Windermere Northwest Living Show Phone

Listed By: Mike Lamb Show Phone

Source: Eaglecaprealty

Added: Mar 30 Changed: Oct 23 Last Checked: Oct 23 at 5:57PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

Two buildings create distinct commercial spaces at this mixed-use property. The west-side retail building contains 10,200 square feet and was constructed in 2010. On the east side, a two-level building has 5,600 square feet on each floor. Its lower level is leased to an office user and includes a garage door; the owner uses the upper floor, which is heated by equipment in that space.

The property is near the Hwy 99 and 78th Street interchange in Vancouver. GC zoning applies to the site.

Key Highlights

• 10,200‑square‑foot retail building constructed in 2010
• East building has two levels of 5,600 square feet each
• Lower level leased to an office user; includes a garage door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$286,342

Cap Rate

5.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,726,840 $5.7M

Cap Rate 7%

$4,090,600 $4.1M

Cap Rate 9%

$3,181,578 $3.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 21,400 SF

Gross rent

$493.1K $23.04/SF

− Vacancy

−$34.9K −$1.63/SF

EGI

$458.1K $21.41/SF

− OpEx

−$171.8K −$8.03/SF

NOI

$286.3K $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%

$5,726,840

Cap Rate 7%

$4,090,600

Cap Rate 9%

$3,181,578

Alternative Uses

Best Use

Mixed Use

$4.09M

$3.58M – $4.77M (±1% cap)

NOI $286,342 @ 7.0% cap · market cap 5.21%

Second Best

Retail

$3.61M

$3.16M – $4.21M (±1% cap)

NOI $252,653 @ 7.0% cap · market cap 4.59%

Theoretical Best

Office A

$5.24M

$4.58M – $6.11M (±1% cap)

NOI $366,518 @ 7.0% cap · market cap 6.66%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Athletes Corner (Bike/Boat/Book/etc) Store FOI Labs Laboratory DTG Now (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Grocery & Convenience Store Furniture & Home Goods Parking Lot & Garage (Bike/Boat/Book/etc) Store Catering Service Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,473

Businesses Nearby

Explore this area Business Placement

Demographics for 98665, WA

28,780

Population

11,894

Households

2.4

Avg Household Size

38

Median Age

29%

College-Educated

93%

High-School Grad

7.4 sq mi

ZIP Area

3,889

Density / Sq Mi

$83,750

Median Household Income

$46,000

Median Earnings

$1,678

Median Rent

$447,700

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The property combines retail space with leased office space and an owner-used upper floor.

Where is this mixed-use property located?

The property is located at 8014 NE 13th Ave Vancouver, WA.

What is the asking price?

The asking price for this property is $5,500,000.

What are key features of this property?

This property features: 10,200‑square‑foot retail building constructed in 2010; East building has two levels of 5,600 square feet each; Lower level leased to an office user; includes a garage door