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Property profile & analytics
OFF-MARKET
Estimated value
$2,690,000
Retail space
17000 1st St Vancouver, WA 98684-9537
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-2748849
Property summary
AI-generated overview
This exceptional 9,722 square foot retail storefront, situated on a 1.01-acre lot in Vancouver, Washington's desirable east side, presents a compelling investment opportunity. The single-story, 2016-built building boasts a strong pro-forma net operating income (NOI) of $167,845, yielding an attractive 6.25% capitalization rate. Currently housing two tenants, the property offers significant upside potential due to below-market rents. Located at 17000 SE 1st St, Vancouver, WA 98684, this C2-zoned property benefits from its prime location near major retailers including Costco, Home Depot, Walmart, Olive Garden, Main Event, 24-Hour Fitness, New Seasons, Fred Meyer, and Target. The property's land value is $276 per square foot. The thriving Vancouver market and Clark County's robust growth, coupled with Washington state's lack of income tax, create a highly attractive environment for businesses and employees. This presents a rare chance to acquire a well-maintained, high-performing retail asset in a rapidly expanding market. The asking price is $2,685,000.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2016
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,657 SF
Lot
0.82 ac (35,719 SF)
Zoning code
CN : VAN
APN
986037-954
UPID
US90-2748849
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
K-9 to Five Doggy Playcare & Spa Kennel & Boarding Facility
-
Tectonic Strength and Conditioning Gym & Fitness Center
-
CHECKED & BALANCED INC Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.69M
CAP Approach
CAP
$1.76M
Comparable Approach
Comparable
$2.82M
Blend (final)
Blend
$2.69M
Owner & transaction history
Craggenmore Properties LLC · 1 yrs held
Craggenmore Properties LLC
since 2025
Last sale
$2.6M
3 recorded transactions
Zoning & alternative use
CN : VAN · Vancouver, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.2M
+3.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Vancouver submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Vancouver submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,755,000
ML approach
$2,690,000
CAP Approach
CAP Return
Estimation
6%
$1,900,000
6.5%
$1,755,000
7%
$1,630,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,090,000
Current use
RESTAURANT
$3,205,000
Change: +4% · Conversion: Easy
MEDICAL BUILDING
$2,650,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$2.69M
Range $2.42M – $2.96M · ±10% · vs last sale $2.60M (Mar 31 2025)
Last sale anchor
$2.60M
Mar 31 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$279 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$16,093
Tax year 2023
Assessed value
$1,680,400
Assessed 2023
Previous assessed
$1,461,200
+15.0% YoY
Effective rate
0.96%
On assessed value
Assessed land
$329,153
Assessed improvement
$1,351,247
Land market value
$329,153
Improvement market value
$1,351,247
Total market value
$1,680,400
Applied tax rate
10,178.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2016
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
9,657 SF
Lot
0.82 ac (35,719 SF)
Zoning code
CN : VAN
APN
986037-954
UPID
US90-2748849
Jurisdiction
CLARK
Zoning & alternative use
CN : VAN · Vancouver, WA
Zoning CN : VAN · permitted uses
CN : VAN · Vancouver, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Vancouver. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.1M
RESTAURANT
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$2.7M
RETAIL STORES Current
RESTAURANT
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2016
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
0.82 ac
Current owner
From public records · entity-resolved
Craggenmore Properties LLC
Entity
Mailing address
9411 NE 25TH CT, VANCOUVER, WA 98665-9684
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2025
$2,600,000
Craggenmore Properties LLC
Craciun Retail LLC
Warranty Deed
$1,700,000 · Onpoint Community Cu
Apr 27, 2018
—
Craciun Retail LLC
—
Deed
related
$990,000 · First Fed'l S&l Assoc/port Ang
—
—
Craciun Retail LLC
—
Deed Of Trust
related
$990,000 · First Fed'l S&l Assoc/port Ang
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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