701 NE 136th Ave - Office FOR SALE


Vancouver, WA 98684- Fircrest
$4,840,000 USD
206-826-5784
701 NE 136th Ave, Vancouver, WA for Sale
$4,840,000 USD
Office - FOR SALE
1/9
null | 7.95% Cap Rate

701 NE 136th Ave
Vancouver, WA 98684
Fircrest


HIGHLIGHTS

  • EASE OF MANAGEMENT
  • BELOW REPLACEMENT COST
  • RAPIDLY GROWING SUBMARKET

OVERVIEW

THE VARA GROUP is excited to present the sale offering for Vancouver Evergreen Plaza, a 33,672 SF Class A office property located in Vancouver, WA. Built in 2008, the property sits on a 2.07-acre lot, providing 167 parking stalls and boasting a parking ratio of 4.96/1,000 SF. Evergreen Plaza is 100% occupied by three tenants, ensuring minimal management responsibilities for ownership. Two tenants benefit from scheduled rent increases, while Regus’ profit-sharing structure offers additional upside potential. Strategically positioned in Vancouver’s Cascade Park submarket, the property is just minutes from downtown Portland and benefits from the area’s consistent population growth. Immediate access to I-205, SR-500, I-5, and SR-14 enhances connectivity, while nearby residential expansion further supports long-term demand. Offered at less than 50% of replacement cost, the property presents an attractive basis well below market standards. This significant discount provides investors the flexibility to enhance the asset through strategic improvements, driving higher rents and long-term value. Alternatively, the low cost basis enables competitive leasing strategies to minimize vacancies and maximize occupancy for years to come.

FOR SALE DETAILS

PRICE

$4,840,000 USD

PRICE/SF

$144 USD /SF

CAP RATE

7.95%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Evergreen Plaza

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

A

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

167

LAND DETAILS

LAND ACRES

2.07 AC

LAND SF

90,169 SF

ZONING

IC

APN/PARCEL ID

165165-028

ASK ABOUT THIS PROPERTY

Raymond 'RJ' VaraMarcus & MillichapMore Info
206-826-5784

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Raymond 'RJ' VaraMarcus & MillichapMore Info
206-826-5784

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