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Property profile & analytics
OFF-MARKET
Estimated value
$990,000
Medical Office Space
601 117th Ave Ste 140 Vancouver, WA 98683-5297
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0957186
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Construction
STEEL FRAME
Total area
2,618 SF
Lot
0.26 ac (11,130 SF)
Zoning code
CC : VAN
APN
114782-427
UPID
US90-0957186
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$990k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$865k
Blend (final)
Blend
$990k
Owner & transaction history
Gagneja Properties LLC · 5 yrs held
Gagneja Properties LLC
since 2021
Last sale
$1.0M
1 recorded transaction
Zoning & alternative use
CC : VAN · Vancouver, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$835,000
+16.6%
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
$970,000
ML approach
$990,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$720,000
Current use
RETAIL STORES
$835,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$620,000
Change: -14% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$605,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$990k
Range $891k – $1.09M · ±10% · vs last sale $1.01M (Jun 15 2021)
Last sale anchor
$1.01M
Jun 15 2021
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
$378 / 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
$9,307
Tax year 2023
Assessed value
$974,500
Assessed 2023
Previous assessed
$847,400
+15.0% YoY
Effective rate
0.96%
On assessed value
Assessed land
$202,780
Assessed improvement
$771,720
Land market value
$202,780
Improvement market value
$771,720
Total market value
$974,500
Applied tax rate
10,143.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2007
Construction
STEEL FRAME
Heating
OTHER
Cooling
CENTRAL
Stories
1
Total area
2,618 SF
Lot
0.26 ac (11,130 SF)
Zoning code
CC : VAN
APN
114782-427
UPID
US90-0957186
Jurisdiction
CLARK
Zoning & alternative use
CC : VAN · Vancouver, WA
Zoning CC : VAN · permitted uses
CC : 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
MEDICAL BUILDING Current
Est. value
$720,000
RETAIL STORES
Est. value
$835,000
COMMERCIAL (GENERAL)
Est. value
$620,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$605,000
MEDICAL BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
2007
Construction
STEEL FRAME
Heating
OTHER
Cooling
Yes
Stories
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
Gagneja Properties LLC
Entity
Mailing address
601 SE 117TH AVE STE #140, VANCOUVER, WA 98683-5297
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
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
Jun 15, 2021
$1,005,000
Gagneja Properties LLC
Lily Kai Properties LLC
Warranty Deed
$753,750 · Summit Bank
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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