11815 NE Highway 99 - Storefront Retail/Office FOR SALE


Vancouver, WA 98686- Pleasant Valley Vancouver
$3,890,000 USD
206-826-5728
11815 NE Highway 99, Vancouver, WA for Sale
$3,890,000 USD
Storefront Retail/Office - FOR SALE
1/9
null | 6.5% Cap Rate

11815 NE Highway 99
Vancouver, WA 98686
Pleasant Valley Vancouver


HIGHLIGHTS

  • 100% Leased Business Center with Newly Signed Leases | Strong Historical Occupancy | Below Market Rent
  • Over $100,000 In Recent Property Improvements
  • Attractive Seller Financing Available (10% Cash-on-Cash Return) | Income Tax Free State
  • Staggered Lease Expiration Dates | Flexible Retail and Commercial Zoning
  • Strategic Location on HWY 99 (17,500+ VPD) | High Population Growth Sub-Market
  • Strong Rent Growth (3.3% Annually) and High Barrier-to-Entry Market

OVERVIEW

Marcus & Millichap’s Brown Retail Group has been selected to exclusively market for sale Klineline Center, a fully leased business center located in the heart of Vancouver, WA (Portland/Vancouver MSA). The property is 100% occupied, with three tenants recently signing long-term leases, and over 65% of the GLA leased by tenants who have been at the property for more than five years. The two largest tenants have over 30 years of occupancy. The tenants pay an average rent of $15.39/SF Gross, with market rents achievable in the $18 – $20/SF Gross range, offering upside potential. Since 2020, the property has received over $100,000 in upgrades, including a new roof on the 11819 building, new HVAC units, parking lot seal coat, LED signage, and lighting. Seller financing is available at a 5.00% interest rate with 30% down for a 3-year term, providing a 10.00% cash-on-cash return. Klineline Center is strategically located on NE Hwy 99, which sees over 17,500 vehicles per day, and is next to a successful grocery store, ensuring consistent customer traffic. Zoned GC (General Commercial), the property allows for numerous uses, including retail, office, light manufacturing, and multifamily. The 98686 zip code has seen over 16% population growth since 2011, with a projected 7.6% increase in the next five years within a 5-mile radius of the property. The Vancouver/Portland retail submarket has experienced 3.3% annual rent growth over the past five years, with a 4.5% vacancy rate as of Q4 2024. Washington State’s income tax-free status provides additional financial benefits to investors.

FOR SALE DETAILS

PRICE

$3,890,000 USD

PRICE/SF

$486 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Klineline Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Auto Repair, Storefront, Health Club

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.76 AC

LAND SF

76,666 SF

ZONING

GC

APN/PARCEL ID

189648-000

ASK ABOUT THIS PROPERTY

Dylan WolfMarcus & MillichapMore Info
206-826-5728

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Dylan WolfMarcus & MillichapMore Info
206-826-5728

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.