2811 Evergreen Blvd Vancouver, WA 98661-4956
Office Spaces
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Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
No photos on file
For Sale
Contact for pricing
2811 Evergreen Blvd, Vancouver, WA 98661-4956
View Listing →
Estimated value (blended)
$2.31M
Range $2.08M – $2.54M (±10%)
Implied cap rate
7.30%
In-place · NOI ÷ last sale
Property ID
US90-0222624
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,600 SF
Lot
1.08 ac (47,045 SF)
Zoning code
XZ
APN
030881-000
UPID
US90-0222624
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
General Contractor
-
Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.37M
CAP Approach
CAP
$2.60M
Comparable Approach
Comparable
$3.11M
Blend (final)
Blend
$2.31M
Owner & transaction history
since 2021
Last sale
$2.4M
7 recorded transactions
Zoning & alternative use
XZ · Vancouver, WA
Top alternative use upside
Medical building
$3.5M
+8.1%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.31M
Value range
$2.08M – $2.54M
±10% around blend
Estimated value / SF
$183 / SF
Confidence
High
5 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
50
$2.08M
blend $2.31M
$2.54M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
12,600 SF
Lot area
1.08 ac
Year built
1974
Stories
1
APN
030881-000
Assessed value
$2,026,600
Annual tax
$18,919
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.60M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$2.81M
@ 6.5% CAP return
$2.60M
@ 7% CAP return
$2.41M
4
Sales comparison
Partial preview
Sales approach indication
$3.20M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
4.7 mi away · 16,075 SF
12.3 mi away · 11,980 SF
15.0 mi away · 12,600 SF
21.6 mi away · 15,392 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.31M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 19 sales
$254
-28%
Submarket 131 sales
$237
-23%
County 165 sales
$243
-25%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $183/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+8%
vs current-use indication
Commercial (general) · current use
Industrial (general)
Neighborhood: Shopping Center
Auto Repair, Garage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
Implied cap rate
7.30%
Implied, in-place cap rate for this office spaces
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 7.30%
9.0%
NOI (est.)
$168k *
Last sale · Jul 2021
$2.40M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.30M
Move the market yield to see immediate price impact.
Value / SF
$183
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
6.80%7.30%7.80%
$151k
$2.22M
$2.07M
$1.94M
$168k
$2.47M
$2.30M
$2.15M
$185k
$2.72M
$2.53M
$2.37M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$2.95M
2.5 mi · Jan 2026 · $314/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$18,919
Tax year 2023
Assessed value
$2,026,600
Assessed 2023
Previous assessed
$2,026,600
+0.0% YoY
Effective rate
0.93%
On assessed value
Assessed land
$434,400
Assessed improvement
$1,592,200
Land market value
$434,400
Improvement market value
$1,592,200
Total market value
$2,026,600
Applied tax rate
10,000.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Sale
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
WOOD FURNACE
Cooling
CENTRAL
Stories
1
Total area
12,600 SF
Lot
1.08 ac (47,045 SF)
Zoning code
XZ
APN
030881-000
UPID
US90-0222624
Jurisdiction
CLARK
Zoning & alternative use
XZ · Vancouver, WAZoning XZ · permitted uses
XZ · Vancouver, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
WOOD FURNACE
Cooling
Yes
Stories
1
Lot
1.08 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
XZ
Jurisdiction
Vancouver, WA
Recorded code
XZ
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for XZ in Vancouver, WA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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