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14300 SE First St
Vancouver, WA 98684
Belcher-Vancouver Building · Office Property For Sale
Investment Highlights
- Strong 6.93% Cap Rate - Fully leased - Great investment opportunity with strong financials
- Great location with easy access to downtown, I-5, & SR-14 plus near many amenities
- Excellent and updated property. Really good condition througout, including the roof and systems.
Executive Summary
Discover an exceptional investment opportunity with this excellent condition, fully leased property in a great central location! This large 1.88 acre property includes ample parking, with 102 spaces.
All suites are occupied, with 100% of the space on mid to longer-term leases, allowing immediate positive cash-flow for investors at a current 6.93% Cap Rate! There is also some expandability for additional lease units.
This two-story 20,904 SF building with 6 units is in great condition inside and out. It includes a charming and spacious entryway, common areas that include a conference room, big kitchenette, an elevator, and several Bathrooms (private ones upstairs and shared on main level).
The office suites include private offices, open work areas, & conference rooms. Along with several private or shared use bathrooms and an elevator.
It is located in a central and convenient location in the in the desirable Cascade Park area, just north of E Mill Plain Blvd. Easy access to downtown, I-5, and SR-14. And it is close to many amenities including retail, restaurants, office buildings, and mass transit. The 1.88 acre stunning Class B property boasts a large parking lot with parking at 4.88/1000.
With its attractive features and strong financials, this property presents an enticing prospect for investors seeking a well-maintained and fully leased property in a thriving commercial area.
All suites are occupied, with 100% of the space on mid to longer-term leases, allowing immediate positive cash-flow for investors at a current 6.93% Cap Rate! There is also some expandability for additional lease units.
This two-story 20,904 SF building with 6 units is in great condition inside and out. It includes a charming and spacious entryway, common areas that include a conference room, big kitchenette, an elevator, and several Bathrooms (private ones upstairs and shared on main level).
The office suites include private offices, open work areas, & conference rooms. Along with several private or shared use bathrooms and an elevator.
It is located in a central and convenient location in the in the desirable Cascade Park area, just north of E Mill Plain Blvd. Easy access to downtown, I-5, and SR-14. And it is close to many amenities including retail, restaurants, office buildings, and mass transit. The 1.88 acre stunning Class B property boasts a large parking lot with parking at 4.88/1000.
With its attractive features and strong financials, this property presents an enticing prospect for investors seeking a well-maintained and fully leased property in a thriving commercial area.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
20,904 SF
Building Class
B
Year Built/Renovated
1991/2018
Price
$5,078,920 CAD
Price Per SF
$242.96 CAD
Cap Rate
6.93%
NOI
$351,969 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
10,200 SF
Slab To Slab
11’
Building FAR
0.26
Lot Size
1.88 AC
Zoning
OCI, Vancouver - Office Commercial Industrial (OCI). This zoning provides appropriate locations for office, light industrial, and small-scale commercial uses.
Parking
102 Spaces (4.88 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Atrium
- Controlled Access
- Courtyard
- Security System
- Wheelchair Accessible
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
Property Taxes
| Parcel Number | 164736-015 | Improvements Assessment | $3,863,199 CAD |
| Land Assessment | $1,466,487 CAD | Total Assessment | $5,329,685 CAD |
Property Taxes
Parcel Number
164736-015
Land Assessment
$1,466,487 CAD
Improvements Assessment
$3,863,199 CAD
Total Assessment
$5,329,685 CAD
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