Vancouver Investment Opportunity Near
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9300 - 9330 Van Mall Drive, Vancouver, WA 98662
Fully leased commercial property near I-205 and Vancouver Mall.
Property Size65,000 SF
Price / SF$163.85
Days on Market793
Property Features for 9300 - 9330 Van Mall Drive
General Information
Standard status
Active
Size
65,000 SF
Property subtype
Office
Occupancy
100%
Investment Type
Institutional
Building Details
Year Built
2005
Year Renovated
2024
Buildings
4
Stories
2
Listing Agency:
1st Premier Properties, LLC
Listed By:
Elaine Gesik · License #OR 200112078
(503) 508-4962
Source:
Crexi
Added: Jul 2, 2024
Changed: Aug 24
Last Checked: Sep 1 at 5:22AM
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 1st Premier Properties, LLC
Investment Insights
Based on property information with market context.
This fully leased commercial property presents an investment opportunity in a desirable location just off I-205 and 500, and across the street from Vancouver Mall. The property is located minutes from Portland International Airport. The property is comprised of 65000 square feet and is currently 100% leased. The tenant mix includes medical, senior housing administration, construction/engineering, and finance uses. This property is located in the Vancouver/Clark County market.
Key Highlights
- 100% Leased Investment: Provides immediate and consistent income stream.
- Strong Credit Tenants: Ensures reliable rental payments and reduces investment risk.
- Desirable Location: Situated off I‑205 and 500, offering excellent accessibility.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$837,116
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$16,742,320
$16.7M
Cap Rate 7%
$11,958,800
$12.0M
Cap Rate 9%
$9,301,289
$9.3M
Market Conditions
NOI Build-Up for 65,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.20M $18.48/SF
− Vacancy
−$85.0K −$1.31/SF
EGI
$1.12M $17.17/SF
− OpEx
−$279.0K −$4.29/SF
NOI
$837.1K $12.88/SF
Area
Vancouver, WA
Vacancy
7.08%
Lease Rate
$18.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$16,742,320
Cap Rate 7%
$11,958,800
Cap Rate 9%
$9,301,289
Alternative Uses
Best Use
Office B
$11.96M
$10.46M – $13.95M
NOI $837,116 @ 7.0% cap · market cap 7.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.90M
$13.92M – $18.55M
NOI $1,113,256 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
212
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Fully leased commercial property near I-205 and Vancouver Mall.
Where is this office building located?
The property is located at 9300 - 9330 Van Mall Drive Vancouver, WA.
What is the asking price?
The asking price for this property is $10,650,000.
What are key features of this property?
This property features: 100% Leased Investment: Provides immediate and consistent income stream.; Strong Credit Tenants: Ensures reliable rental payments and reduces investment risk.; Desirable Location: Situated off I‑205 and 500, offering excellent accessibility.
