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    416 87Th Ave Vancouver, WA 98664

    Sponsored
    For Sale
    $1,350,000

    Prime Medical Office, High NOI, Vacant

    Property size:
    3,880 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 3,880 square foot medical office building presents a compelling investment opportunity. Located in Vancouver, WA, at 416 NE 87th Ave, this property boasts a prime location directly across the street from PeaceHealth, ensuring high visibility and accessibility. The building, constructed in 1979, sits on a sizable 0.36-acre lot (15,750 square feet) and is zoned OCI (Office Commercial Industrial), offering flexibility for future development. Currently featuring two units, the property is vacant, allowing for immediate lease-up potential. With a strong pro-forma NOI of $70,523 and a pro-forma cap rate of 5.22%, this stabilized investment offers a solid return. The asking price is $1,350,000, translating to $347.94 per square foot. Ample parking is provided with a 5:1,000 square foot ratio. Its central location in Vancouver provides easy access to the entire metro area, making it an attractive option for both medical professionals and investors. This single-story building presents a rare opportunity to acquire a well-situated, income-producing asset in a thriving market. The property's size, location, and zoning provide significant upside potential for future growth and expansion.

    Property Features for 416 87Th Ave

    General Information

    Property type
    Medical offices
    Square Feet
    3,880 SF
    Lot Size
    15,682 SF

    Building Details

    Year Built
    1979
    Buildings
    1
    Stories
    1
    Units
    2

    HighLights

    • Excellent Vancouver location, directly across from PeaceHealth hospital.
    • 3,880 square foot building with two tenants.
    • 0.36‑acre lot (15,750 square feet).
    • Office Commercial Industrial (OCI) zoning.
    • 5 parking spaces per 1,000 square feet.
    • Built in 1979.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lee Family Dental Dentist Mill Plain Medical Medical Supply Store The Oral Medicine Clinic Dentist A Bite of Grace Association / Organization Emergency Dentist 24/7 ... Dentist

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Vancouver
    County
    Clark
    State
    Washington
    Longitude
    -122.5840553
    Latitude
    45.6241587

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    FAQs

    What type of property is this?
    Medical office - Prime Medical Office, High NOI, Vacant
    Where is this medical office located?
    The property is located at 416 87Th Ave Vancouver, WA.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: Excellent Vancouver location, directly across from PeaceHealth hospital.; 3,880 square foot building with two tenants.; 0.36-acre lot (15,750 square feet).
    Request Owner's contact information
    416 87Th Ave Vancouver, WA 98664
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    Vancouver, WA 98664
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    Realmo Value Estimation

    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.

    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.

    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
    416 87Th Ave Vancouver, WA 98664
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