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Heights Shopping Center 6701 E Mill Plain Blvd 83 901 pi² 94% Loué Commerce de détail Immeuble Vancouver, WA 98661 14 207 820 $ CAD (169,34 $ CAD/pi²) 6% Taux de capitalisation
Certaines informations ont été traduites automatiquement.
FAITS SAILLANTS DE L'INVESTISSEMENT
- Safeway has anchored the center since 1991, leased through 2031 with two 10-year renewals and 10% rent bumps. It drives ~889K annual visits
- 6.5-acre site within the Heights Plan District allows mixed-use, mid-rise development and multifamily under R-18 zoning
- 1-mile household income over $125K; Vancouver’s population projected to more than double by 2045. Median home values up ~65% since 2019
- Average rent ~$9/SF vs. $18–$22/SF market rates. Retail vacancy less than 3% within one mile supports strong mark-to-market upside & minimal downtime
- Local, service-based tenants (fitness, salons, financial services, dining) complement Safeway; no large box exposure
- Signalized intersection of Mill Plain Blvd & Andresen Rd with 40K+ daily vehicles and ~340 parking stalls
RÉSUMÉ DE L'ANNONCE
Heights Shopping Center is a daily-needs retail center anchored by Safeway, which has operated since 1991 and remains leased through 2031, which welcomes approximately 889,000 annual visits (Placer.ai). In addition to the in-line space, Safeway also operates on a separate ground lease for the NE corner parcel, expiring in 2031. Both leases include two (2) ten-year options with 10% rent increases. In-place shop rents average below $9 per square foot, well-below prevailing neighborhood rates of $18-$22 per square foot, creating a clear mark-to-market opportunity on upcoming rollovers amid a one-mile retail vacancy of less than 3%. The tenant mix is e-commerce resistant, featuring a mix of small-format financial services, salons, health and fitness, and food uses, and limited junior-box exposure with the largest non-grocer space around 6,000 square feet. The Property is located within the Heights Plan District, which supports mixed-use, mid-rise scale development alongside adjacent R-18 zoning. The surrounding trade area is affluent and expanding, with one-mile average household income above $125,000 and a nearby population base that’s grown over 20% since 2010. The Offering is positioned at a signalized hard-corner intersection at E Mill Plain Boulevard and N Andresen Road with multiple access points to a dedicated ~340-stall parking lot, offering excellent visibility and access. Offered at $123 per square foot, the center provides a below-replacement entry compared to $600 per square foot or more for new grocery-anchored product. A 4.38% CAGR signals attractive growth, with further lift via development of the Safeway ground-leased parcel and marking Safeway’s in-line space to market (presently $9/SF) in the event they vacate.
FAITS SUR LA PROPRIÉTÉ
Type de vente
Investissement
Condition de vente
Emphytéote (Frais de cession-bail)
Type de propriété
Commerce de détail
Sous-type de propriété
Immeuble de commerce
Taille du bâtiment
83 901 pi²
Classe d’immeuble
B
Année de construction/rénovation
1972/1991
Prix
14 207 820 $ CAD
Prix par pi²
169,34 $ CAD
Taux de capitalisation
6%
Revenu net d’exploitation
852 469 $ CAD
Pourcentage loué
94%
Location
Multiples
Hauteur du bâtiment
1 étage
Quais de chargement
1 Extérieur
Coefficient d’occupation des sols de l’immeuble
0,29
Taille du lot
6,59 AC
Zonage
C3, Vancouver
Stationnement
340 places (4,05 places par 1 000 pi² loué)
Façade
572’ sur E Mill Plain Blvd
COMMODITÉS
- Ligne d'autobus
- Enseigne sur pylône
- Affichage
PRINCIPAUX DÉTAILLANTS À PROXIMITÉ
Impôts fonciers
| Numéros de lot | Évaluation des bâtiments | 13 964 476 $ CAD | |
| Évaluation du terrain | 5 660 989 $ CAD | Évaluation totale | 19 625 465 $ CAD |
Impôts fonciers
Numéros de lot
Évaluation du terrain
5 660 989 $ CAD
Évaluation des bâtiments
13 964 476 $ CAD
Évaluation totale
19 625 465 $ CAD
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Heights Shopping Center | 6701 E Mill Plain Blvd
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