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Property summary
Velendo Plaza, a 41,057 square foot shopping center in Vancouver, Washington, presents a compelling value-add investment opportunity. This fee-simple property, built in 2000 and situated on a 2.36-acre lot (permitted zoning CC), boasts 100% occupancy with 19 tenants across 20 units. Currently generating a net operating income (NOI) of $593,318 and an 8.00% cap rate, the property offers significant upside potential. The asking price is $7,425,000. Located across from Vancouver Mall (over 5.9… million annual visitors) and adjacent to a major transit center (3,796,727 annual passengers), the property benefits from a high-traffic location within a densely populated area. The strong tenant base, with staggered lease expirations, provides a diversified income stream. Approximately 74% of the gross leasable area (GLA) is currently leased at an average rent of $17.00 per square foot (modified gross), significantly below market rates of $20-$24 per square foot (modified gross). This presents a substantial opportunity to increase rental income. The property's location within a 5-mile radius of over 285,000 residents with average household incomes exceeding $105,000 further enhances its investment appeal. The area has experienced significant population growth (over 16% within a 1-mile radius since 2011). The property features high-quality concrete block construction and is conveniently located near SR 500 and I-205 exits. All tenants are on modified gross leases, allowing for utility reimbursement. The opportunity exists to convert these leases to NNN leases and further increase profitability. This property offers a rare combination of strong current performance and significant future growth potential.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Debts
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2023
Value estimate
· Oct 2026Realmo valuation models over county records.
Recently sold
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 17 properties nearbyComparable nearby
Similar in This City for Sale
Similar in This City for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $199/month
- GBA
- 42,794 SF
- Lot area
- 2.36 ac
- Year built
- 2000
- Stories
- 1
- APN
- 159775-000
- Zoning
- CG : VAN
- Assessed value · 2023
- $4,489,700
- Annual tax · 2023
- $42,838
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $199/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Registration is required before the official district profile is shown.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
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- Signals, scores & lead lists
- 300 owner contacts a month
- 30 full reports a month
- Ownership
- Owner Contacts
- Location Analytics
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
Cancel anytime.
- Signals, scores & lead lists
- 1500 owner contacts a month
- 150 full reports a month
- Ownership
- Owner Contacts
- Location Analytics
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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