416 87Th AveVancouver, WA 98664

For Sale
$1,350,000

Prime Medical Office, High NOI, Vacant

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 3,880 square foot medical office building presents a compelling investment opportunity. Located in Vancouver, WA, at 416 NE 87th Ave, this property boasts a prime location directly across the street from PeaceHealth, ensuring high visibility and accessibility. The building, constructed in 1979, sits on a sizable 0.36-acre lot (15,750 square feet) and is zoned OCI (Office Commercial Industrial), offering flexibility for future development. Currently featuring two units, the property is vacant, allowing for immediate lease-up potential. With a strong pro-forma NOI of $70,523 and a pro-forma cap rate of 5.22%, this stabilized investment offers a solid return. The asking price is $1,350,000, translating to $347.94 per square foot. Ample parking is provided with a 5:1,000 square foot ratio. Its central location in Vancouver provides easy access to the entire metro area, making it an attractive option for both medical professionals and investors. This single-story building presents a rare opportunity to acquire a well-situated, income-producing asset in a thriving market. The property's size, location, and zoning provide significant upside potential for future growth and expansion.

Highlights

  • Excellent Vancouver location, directly across from PeaceHealth hospital.
  • 3,880 square foot building with two tenants.
  • 0.36-acre lot (15,750 square feet).
  • Office Commercial Industrial (OCI) zoning.
  • 5 parking spaces per 1,000 square feet.
  • Built in 1979.

Property Details for 416 87Th Ave

Property type
Other office properties, Medical offices
Square Feet
3,880 SF
Year Built
1979
Buildings
1
Stories
1
Lot Size (sq. ft)
15,682 SF
Units
2

Location Insight

City
Vancouver
County
Clark
State
Washington
Latitude
45.6241587
Longitude
-122.5840553
416 87Th Ave, Vancouver, Washington

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416 87Th Ave
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