9920 117Th AveVancouver, WA 98662

For Sale
$2,128,000

NNN Lease, High-Traffic Location, Strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional retail property, located at 9920 NE 117th Ave, Vancouver, WA 98662, offers a compelling investment opportunity. The 3,800 square foot building, constructed in 2021, is situated on a 0.25-acre lot and is currently leased under a triple-net (NNN) agreement to Sherwin-Williams. The lease commenced February 22, 2021, and features a built-in 10% rent increase scheduled for February 2026, ensuring future income growth. The property boasts a strong net operating income (NOI) of $106,400, resulting in a 5.00% capitalization rate and a price per square foot of $560. This investment is further enhanced by its strategic location within the MAJ Place BP center, alongside a 7-Eleven with fuel and a Starbucks Drive-Thru, creating a high-traffic retail environment. The property benefits from excellent visibility and accessibility, with approximately 70,690 vehicles passing daily at the intersection of NE 117th Ave and NE 99th Street. This presents a stable, high-quality tenant in a thriving retail corridor, making it an attractive investment for discerning buyers. The asking price for this turnkey investment is $2,128,000.

Highlights

  • Exceptional 3,800 SF retail building in Vancouver, WA, built in 2021.
  • NNN-leased to Sherwin-Williams, commenced February 22, 2021.
  • 0.25-acre lot with a 10% rent increase scheduled for February 2026.
  • Strong NOI of $106,400, 5.00% cap rate, and $560/SF price.
  • High-traffic location in MAJ Place BP center, near 7-Eleven and Starbucks, with 70,690 VPD.
  • Asking price: $2,128,000.

Property Details for 9920 117Th Ave

Property type
Other retail properties, Retail properties
Square Feet
3,800 SF
Year Built
2021
Buildings
3800
Lot Size (sq. ft)
10,890 SF

Location Insight

City
Vancouver
County
Clark
State
Washington
Latitude
45.6943653
Longitude
-122.5536843
9920 117Th Ave, Vancouver, Washington

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9920 117Th Ave
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