Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Commercial Development Site For Sale Title is generated by Realmo AI

    7008 NE 162nd Ave, Vancouver, WA 98682

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial development site at signalized intersection in Orchards trade area.

    Type:Land
    Added:
    Jul 10, 2024
    Days on Market:
    693
    Last Refresh:
    May 13 at 1:13 am

    Property Features for 7008 NE 162nd Ave

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Jeff Olson

    Listing agent Jeff Olson License #OR

    Listing office Commercial Realty Advisors Northwest LLC

    Listing date Jul 10, 2024

    Source Crexi

    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 Commercial Realty Advisors Northwest LLC

    HighLights

    • Located at a signalized intersection of NE 162nd Ave & Fourth Plain Blvd.
    • High‑traffic location in the Orchards trade area.
    • Property is substantially cleared of vegetation.
    • Wetlands mitigation plan in place.
    • Access from both streets.
    • Close proximity to major retailers (Safeway, Walmart, etc.).

    Overview

    This commercial development site is located at the northwest corner of NE 162nd Avenue and Fourth Plain Boulevard in the Orchards trade area. The property is situated at a signalized intersection, offering access from both streets. The site has been substantially cleared of vegetation, and a wetlands mitigation plan is in place. Nearby retailers include Safeway, Walmart, Dollar Tree, Goodwill, McDonald’s, Burgerville, Starbucks, and Chipotle.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Vancouver
    County
    Clark
    State
    Washington
    Longitude
    -122.5064994
    Latitude
    45.6746323

    Nearby Similar for Sale

    • $879,000
      4,475 SF

      Renovated Vancouver Multifamily Property

      Renovated multifamily property with lake views and income potential.
      7204 NW OVERLOOK Dr, Vancouver, WA 98665
      View Details
    • $650,000
      2,584 SF

      Versatile Duplex in East Vancouver

      Duplex with income potential in convenient location near amenities.
      3910 NE 109TH Ave, Vancouver, WA 98682
      View Details
    • $950,000
      3,484 SF

      Vancouver WA Fourplex Investment Opportunity

      Well-maintained fourplex with fenced yards, convenient location, strong rental potential.
      10901 NE 7TH St, Vancouver, WA 98664
      View Details
    • $600,000
      1,808 SF

      Hearthwood Duplex with Large Yards

      Well-maintained duplex in Vancouver with income potential and owner occupancy.
      1511 NE 141ST Ave, Vancouver, WA 98684
      View Details
    • $600,000
      1,724 SF

      Well-Located Vancouver Duplex Opportunity

      Duplex near I-5, Clark College, and downtown Vancouver.
      3709 M St, Vancouver, WA 98663
      View Details
    • $600,000
      1,724 SF

      Vancouver Duplex Near I-5

      Well-located duplex with easy access to amenities and transportation.
      3713 M St, Vancouver, WA 98663
      View Details
    • $630,000
      1,724 SF

      Vancouver Duplex Near I-5

      Well-located duplex near I-5, Clark College, and downtown Vancouver.
      3713 M St, Vancouver, WA 98663
      View Details
    • $600,000
      1,724 SF

      Vancouver Duplex Near I-5

      Well-located duplex with easy access to amenities and I-5.
      3709 M St, Vancouver, WA 98663
      View Details
    • $510,000
      2,200 SF

      Turnkey Duplex in Prime Location

      Fully rented duplex with strong cash flow in Vancouver, WA.
      1903 W 31ST St, Vancouver, WA 98660
      View Details
    • $799,000
      2,834 SF

      Vancouver Duplex: Investor Opportunity

      Tenant-occupied duplex with modern features in Vancouver, WA.
      6011 NE 105TH Ave, Vancouver, WA 98662
      View Details
    • $550,000
      1,800 SF

      Vancouver WA Duplex For Sale

      Well-kept duplex in Hearthwood neighborhood, a steady investment opportunity.
      202 SE 157TH Ave, Vancouver, WA 98684
      View Details
    • $800,000
      3,305 SF

      Vancouver Multifamily Investment Opportunity

      Multifamily property in central Vancouver with consistent rental history.
      4337 NE 87TH St, Vancouver, WA 98665
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial development site at signalized intersection in Orchards trade area.
    Where is this commercial land located?
    The property is located at 7008 NE 162nd Ave Vancouver, WA.
    What is the asking price?
    The asking price for this property is $6,128,885.
    What are key features of this property?
    This property features: Located at a signalized intersection of NE 162nd Ave & Fourth Plain Blvd.; High‑traffic location in the Orchards trade area.; Property is substantially cleared of vegetation.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jeff Olson
    Real Estate License ID: OR
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    7008 NE 162nd Ave, Vancouver, WA 98682
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!