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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2900 E Mill Plain Blvd, Unit A Vancouver, WA 98661

    • Grocery and convenience stores
    • 5,400 SF
    • 0.15 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Last Sale
    Dec 08, 2023
    $1,301,000
    Value Estimations
    $1,040,000
    Cap Rate Potential
    7.5%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US90-1491523
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • VN Market / Convenience Store
    • Blind Onion Pizza & Pub / Pizza Restaurant / Pub

    Property Details for 2900 E Mill Plain Blvd

    Year built
    1970
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.15 lot acres
    Property size
    5,400 SF
    Zone code
    R-18 : VAN
    Property type
    Grocery and convenience stores
    APN
    037304-060
    APU
    37304060

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $910,000
      ML approach
      $955,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,140,000
      6.5%
      $1,050,000
      7%
      $975,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,415,000
      Market price range: $908k - $5.09M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,245,000
      Current use
      MEDICAL BUILDING
      $1,480,000
      Change: +19% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,370,000
      Change: +10% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $1,320,000
      Change: +6% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,120,000
      Change: -10% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Vancouver
    County
    Clark
    State
    Washington
    Longitude
    -122.64
    Latitude
    45.6286
    CBSA code
    38900
    CBSA name
    PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,199
    $96,800
    $780,800
    $877,600
    -
    $96,800
    $780,800
    $877,600

    Comparable in this City

    • Value Estimation
      $275,000
      2,640 SF

      2715 4th Pln Blvd

      CONVENIENCE STORE • 2,640 SF
      2715 4th Pln Blvd, Vancouver, WA 98661-4648
      View Details
    • Value Estimation
      $260,000
      2,400 SF

      5600 4th Pln Blvd, Unit 108

      CONVENIENCE STORE • 2,400 SF
      5600 4th Pln Blvd, Vancouver, WA 98661-6862
      View Details
    • Value Estimation
      $1,805,000
      1,438 SF

      4804 St Johns Rd, Unit 2

      CONVENIENCE STORE • 1,438 SF
      4804 St Johns Rd, Vancouver, WA 98661-2545
      View Details
    • Value Estimation
      $265,000
      13,132 SF

      2109 St Johns Blvd

      GROCERY, SUPERMARKET • 13,132 SF
      2109 St Johns Blvd, Vancouver, WA 98661-3740
      View Details
    • Value Estimation
      $245,000
      0.16 Acres

      Vancouver, WA 98661

      CONVENIENCE STORE (W/FUEL PUMP) • 0.16 Acres
      Vancouver, WA 98661
      View Details
    • Value Estimation
      $920,000
      63,734 SF

      6711 63rd St, Unit 9

      GROCERY, SUPERMARKET • 63,734 SF
      6711 63rd St, Vancouver, WA 98661-1997
      View Details

    Similar Nearby for Sale

    • $10,300,000

      Retail Property For Sale

      Retail property available for purchase in Vancouver, Washington.
      6621 E Mill Plain Blvd, Vancouver, WA 98661
      View Details
    • $195,000
      0.34 Acres

      Residential Land in West Minnehaha

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      Vancouver Office Building For Sale

      Single tenant NNN lease investment opportunity in Vancouver, WA.
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      View Details
    • $220,000
      816 SF

      Cozy Condo with Detached Garage

      Ground-floor, 2-bed, 1.5-bath condo in gated community with garage.
      5415 NE 34Th St, Vancouver, WA 98661
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    • Contact for pricing

      Newer Construction Multifamily Property

      28-unit apartment complex in Vancouver's Walnut Grove neighborhood.
      3803 NE 49Th St, Vancouver, WA 98661
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    • $2,050,000

      Vancouver Office Space Available

      Office property for sale in Vancouver, Washington.
      4301 East Fourth Plain Blvd, Vancouver, WA 98661
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      5,334 SF

      Retail Space with Extensive Amenities

      Well-equipped retail space in Vancouver, WA, ready for occupancy.
      2900 E Mill Plain Blvd, Vancouver, WA 98661
      View Details
    • Contact for pricing

      Prime Retail Space in Vancouver

      Exceptional retail opportunity with high visibility and ample parking.
      Vancouver, WA 98661
      View Details
    • $22 SF/Yr
      15,368 SF

      Prime Retail Space in Vancouver, WA

      High-visibility retail space; 5,400 sq ft available.
      2507 Andresen Rd, Vancouver, WA 98661
      View Details
    • Contact for pricing
      6,656 SF

      Vancouver Retail Center - 6,656 SF

      Prime Vancouver retail space available. High-traffic location.
      6713 63Rd St, Vancouver, WA 98661
      View Details
    • Contact for pricing
      9,450 SF

      Vancouver Warehouse - 9,450 SF

      Prime Industrial Space; Immediate Occupancy
      1721 64Th Ave, Vancouver, WA 98661
      View Details
    • $0.91 SF/Yr
      101,300 SF

      Walnut Grove Industrial Park Warehouses

      Vancouver, WA: Large warehouse spaces available
      6115 63Rd St, Vancouver, WA 98661
      View Details
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    Vancouver, WA 98661
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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