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The MANCAVES @ Pearson Storage 311 E Reserve St 15,047 SF 93% Leased Industrial Building Vancouver, WA 98661 $5,123,145 CAD ($340.48 CAD/SF) 8.36% Cap Rate
Investment Highlights
- 93% Occupied - With strong occupancy history, and a diverse tenant base.
- Upside Potential - Through occupancy gains and rent increases on existing tenants.
- Security & Amenities - Onsite water, electrical, parking, restrooms, security gate and security cameras enhance usability and desirability for tenants
- High Cash Flow Investment - Over $308,000 in net operating income annually generating an exceptional investment return.
- Flexible, Move-In Ready Spaces - With power, lighting, high ceilings, compressed air, WiFi and Cable perfect for local businesses.
- Convenient Access - With easy access to I-5, I-205, Mill Plain, SR 14, downtown Vancouver and nearby retail.
Executive Summary
311 E. Reserve St. is a multi-tenant industrial property with 34 units that are 93% leased. The property operates under the name Man Caves @ Pearson Storage and offers a variety of spaces including 2 office suites, small workshop spaces and traditional storage.
The highly amenitized spaces include roll-up doors, high ceilings, overhead lighting, compressed air, electricity, 220 & 110 V power, WiFi, and cable TV with sports package. The Property offers communal restrooms, shared utilities, gated entry and security system. Tenants historically have been a mix of small businesses, hobbyists, and active storage users.
The Property benefits from its location near downtown Vancouver, Pearson Field, and the Grand Central Retail Center along with convenient access from Interstate 5, Interstate 205 and SR14 and Mill Plain Blvd. The central location serves both the Portland and Vancouver markets.
Property Website: Pearsonmancaves.com
The highly amenitized spaces include roll-up doors, high ceilings, overhead lighting, compressed air, electricity, 220 & 110 V power, WiFi, and cable TV with sports package. The Property offers communal restrooms, shared utilities, gated entry and security system. Tenants historically have been a mix of small businesses, hobbyists, and active storage users.
The Property benefits from its location near downtown Vancouver, Pearson Field, and the Grand Central Retail Center along with convenient access from Interstate 5, Interstate 205 and SR14 and Mill Plain Blvd. The central location serves both the Portland and Vancouver markets.
Property Website: Pearsonmancaves.com
Property Facts
| Price | $5,123,145 CAD | Rentable Building Area | 15,047 SF |
| Price Per SF | $340.48 CAD | No. Stories | 1 |
| Sale Type | Investment | Year Built/Renovated | 1985/2013 |
| Cap Rate | 8.36% | Parking Ratio | 1.33/1,000 SF |
| Property Type | Industrial | Clear Ceiling Height | 20’ |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 10 |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 0.64 AC | ||
| Zoning | IL | ||
| Price | $5,123,145 CAD |
| Price Per SF | $340.48 CAD |
| Sale Type | Investment |
| Cap Rate | 8.36% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.64 AC |
| Rentable Building Area | 15,047 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1985/2013 |
| Parking Ratio | 1.33/1,000 SF |
| Clear Ceiling Height | 20’ |
| No. Drive In / Grade-Level Doors | 10 |
| Opportunity Zone |
Yes |
| Zoning | IL |
Amenities
- Fenced Lot
- Security System
- Storage Space
Utilities
- Lighting - Fluorescent
- Gas
- Water - City
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 031047-000 | Improvements Assessment | $1,461,085 CAD |
| Land Assessment | $298,441 CAD | Total Assessment | $1,759,526 CAD |
Property Taxes
Parcel Number
031047-000
Land Assessment
$298,441 CAD
Improvements Assessment
$1,461,085 CAD
Total Assessment
$1,759,526 CAD
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The MANCAVES @ Pearson Storage | 311 E Reserve St
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