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Property profile & analytics
OFF-MARKET
Estimated value
$28,990,000
Office Spaces
2901 Falk Rd 33 Vancouver, WA 98661-6392
Individually Owned
36-yr Hold
Free & Clear
Property ID
US90-0761568
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
159,572 SF
Lot
7.65 ac (333,234 SF)
Zoning code
R-18 : VAN
APN
030790-250
UPID
US90-0761568
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
-
Vancouver Special Education High School
-
Vancouver Schools High School
-
City Fitness Center Gym & Fitness Center
-
vps foundation High School
-
Vancouver Public Schools School District Office Public Educational Institution
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$32.85M
Comparable Approach
Comparable
$36.45M
Blend (final)
Blend
$28.99M
Owner & transaction history
Vancouver School Dist #37 · 36 yrs held
Vancouver School Dist #37
since 1990
1 recorded transaction
Zoning & alternative use
R-18 : VAN · Vancouver, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$43.8M
+8.1%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$35,585,000
6.5%
$32,850,000
7%
$30,500,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$40,485,000
Current use
MEDICAL BUILDING
$43,775,000
Change: +8% · Conversion: Easy
INDUSTRIAL (GENERAL)
$39,015,000
Change: -4% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$36,820,000
Change: -9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$33,135,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$28.99M
Range $26.09M – $31.89M · ±10%
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
$182 / 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
Assessed value
$23,743,500
Assessed 2023
Previous assessed
$23,743,500
+0.0% YoY
Assessed land
$2,665,900
Assessed improvement
$21,077,600
Land market value
$2,665,900
Improvement market value
$21,077,600
Total market value
$23,743,500
Applied tax rate
10,000.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Buildings
5
Stories
1
Total area
159,572 SF
Lot
7.65 ac (333,234 SF)
Zoning code
R-18 : VAN
APN
030790-250
UPID
US90-0761568
Jurisdiction
CLARK
Zoning & alternative use
R-18 : VAN · Vancouver, WA
Zoning R-18 : VAN · permitted uses
R-18 : 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
COMMERCIAL (GENERAL) Current
Est. value
$40.5M
MEDICAL BUILDING
Est. value
$43.8M
INDUSTRIAL (GENERAL)
Est. value
$39.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$36.8M
AUTO REPAIR, GARAGE
Est. value
$33.1M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Stories
1
Buildings
5
Lot
7.65 ac
Current owner
From public records · entity-resolved
Vancouver School Dist #37
Individual
Free & Clear · 36 yrs held
Mailing address
2901 FALK RD, VANCOUVER, WA 98661-5683
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1990
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 25, 1990
—
Vancouver School Dist #37
Unknown
Grant Deed
related
—
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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