15650 4th Pln Blvd Vancouver, WA 98682-5258

Property Details for 15650 4th Pln Blvd

Year built

2022

Lot size

0.40 lot acres

Property size

6,069 SF

Zone code

CC : VAN

Property type

Office Properties & Spaces

APN

986033-857

APU

986033857

Description

This exceptional investment opportunity presents a brand-new, 6,510 square foot retail shopping center in Vancouver, Washington, boasting 100% occupancy across six tenants. Built in 2023, the property features high-quality finishes and a transferable roof warranty. The absolute NNN leases, with annual rent increases, provide a secure investment with minimal landlord responsibilities. The center benefits from a strategic location between a high-performing Walmart and Safeway, ensuring significant foot traffic. Situated on a 0.59-acre lot at a signalized, hard-corner location, the property enjoys excellent visibility. The surrounding area is experiencing robust growth, with new retail and industrial developments underway, further enhancing the property's value. The strong demographics, including a population of over 208,000 within a 5-mile radius and average household incomes exceeding $94,000, contribute to a stable and expanding market. The property offers a 6.42% cap rate and a substantial net operating income (NOI) of $187,599. Leases commenced October 31, 2023, and expire December 30, 2028, with lease options available. This fee-simple ownership presents a compelling investment opportunity in a thriving market. The property's location in Clark County, Washington, offers the added benefit of being in an income tax-free state.