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Belcher-Vancouver Building 14300 SE First St 20,904 SF 100% Leased Office Building Vancouver, WA 98684 $3,740,000 ($178.91/SF) 6.61% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong 6.6% Cap Rate - Fully leased - Great investment opportunity with strong financials
- Great location with easy access to downtown, I-5, & SR-14 plus near many amenities
- Excellent and updated property. Really good condition througout, including the roof and systems.
EXECUTIVE SUMMARY
Discover an exceptional investment opportunity with this excellent condition, fully leased property in a great central location! This large 1.88 acre property includes ample parking, with 102 spaces.
All suites are occupied, with 100% of the space on longer-term leases, allowing immediate positive cash-flow for investors at a current 6.6% Cap Rate! There is also some expandability for additional lease units.
This two-story 20,904 SF building with 6 units is in great condition inside and out. It includes a charming and spacious entryway, common areas that include a conference room, big kitchenette, an elevator, and several Bathrooms (private ones upstairs and shared on main level).
The office suites include private offices, open work areas, & conference rooms. Along with several private or shared use bathrooms and an elevator.
It is located in a central and convenient location in the in the desirable Cascade Park area, just north of E Mill Plain Blvd. Easy access to downtown, I-5, and SR-14. And it is close to many amenities including retail, restaurants, office buildings, and mass transit. The 1.88 acre stunning Class B property boasts a large parking lot with parking at 4.88/1000.
With its attractive features and strong financials, this property presents an enticing prospect for investors seeking a well-maintained and fully leased property in a thriving commercial area.
All suites are occupied, with 100% of the space on longer-term leases, allowing immediate positive cash-flow for investors at a current 6.6% Cap Rate! There is also some expandability for additional lease units.
This two-story 20,904 SF building with 6 units is in great condition inside and out. It includes a charming and spacious entryway, common areas that include a conference room, big kitchenette, an elevator, and several Bathrooms (private ones upstairs and shared on main level).
The office suites include private offices, open work areas, & conference rooms. Along with several private or shared use bathrooms and an elevator.
It is located in a central and convenient location in the in the desirable Cascade Park area, just north of E Mill Plain Blvd. Easy access to downtown, I-5, and SR-14. And it is close to many amenities including retail, restaurants, office buildings, and mass transit. The 1.88 acre stunning Class B property boasts a large parking lot with parking at 4.88/1000.
With its attractive features and strong financials, this property presents an enticing prospect for investors seeking a well-maintained and fully leased property in a thriving commercial area.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
20,904 SF
Building Class
B
Year Built/Renovated
1991/2018
Price
$3,740,000
Price Per SF
$178.91
Cap Rate
6.61%
NOI
$247,281
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
10,200 SF
Slab To Slab
11’
Building FAR
0.26
Lot Size
1.88 AC
Zoning
OCI, Vancouver - Office Commercial Industrial (OCI). This zoning provides appropriate locations for office, light industrial, and small-scale commercial uses.
Parking
102 Spaces (4.88 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Atrium
- Controlled Access
- Courtyard
- Security System
- Wheelchair Accessible
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
1 1
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 164736-015 | Total Assessment | $3,869,100 (2025) |
| Land Assessment | $1,064,600 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,804,500 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
164736-015
Land Assessment
$1,064,600 (2025)
Improvements Assessment
$2,804,500 (2025)
Total Assessment
$3,869,100 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Belcher-Vancouver Building | 14300 SE First St
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