416 87Th Ave Vancouver, WA 98664

Property Details for 416 87Th Ave

Year built

1979

Construction

CONCRETE

Lot size

0.36 lot acres

Property size

3,800 SF

Zone code

OCI : VAN

Property type

Medical offices

Property subtype

Medical centers

APN

111018-010

APU

111018010

Description

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.

Location Insight

City

Vancouver

County

Clark

State

Washington

Longitude

-122.584

Latitude

45.6242

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments