Salmon Creek Center Bldg A 14313 NE 20th Ave 26,720 SF 100% Leased Retail Building Vancouver, WA 98686 $8,725,000 ($326.53/SF) 6.64% Cap Rate
INVESTMENT HIGHLIGHTS
- Stabilized retail center - Currently 96% occupied.
- The property is located at the north I5/I205 Interchange with excellent freeway access.
- Building exterior façade renovated in 2019.
- NOI upside with new leases signed between $26.00 and $28.00 psf NNN
- The average weighted lease term is approximately 3.5 years, with no expirations until Q4 2026.
- The center is positioned in a retail node at the intersection of NE 139th and NE 20th Avenue that is anchored by a Safeway directly across the street.
EXECUTIVE SUMMARY
Stabilized neighborhood strip center in a growing Salmon Creek submarket of Vancouver. Average lease term of 3.5 years remaining. NOI upside with recent leases executed between $26 and $28 psf. Average in-place rent $22.36 psf. Excellent access to both I-5 and I-205.
One 1,200 sf space remains. Fully occupied cap rate 6.85%
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$572,500
|
$21.43
|
| Other Income |
$197,338
|
$7.39
|
| Vacancy Loss |
$7,698
|
$0.29
|
| Effective Gross Income |
$762,140
|
$28.52
|
| Taxes |
$67,521
|
$2.53
|
| Operating Expenses |
$115,560
|
$4.32
|
| Total Expenses |
$183,081
|
$6.85
|
| Net Operating Income |
$579,059
|
$21.67
|
PROPERTY FACTS
AMENITIES
- Bus Line
- Pylon Sign
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Contrarian Game Cafe
- Accommodation and Food Services
- -
- $24.84
- Triple Net
- Mar 2027
- Dough Boys Pizza
- -
- -
- -
- Triple Net
- -
-
- Retailer
- -
- -
- Triple Net
- -
- Generations Church
- Services
- -
- -
- Triple Net
- Jun 2024
Wig Shop and hair salon in salmoncreek.
- McCann's Medical Supply
- -
- -
- -
- Triple Net
- -
- Mount Vista Family Dental
- -
- -
- -
- -
- -
-
- Arts, Entertainment, and Recreation
- -
- -
- -
- -
Snap Fitness is a worldwide 24/7 gym leader. With years in the industry, they provide their gym franchise owners with a strong support network that comes with a wealth of experience and in-market knowledge. Since their launch in 2003, Snap Fitness has grown worldwide. As a global brand committed to being the best fitness franchise, they've continued to set new benchmarks for innovation in the fitness and franchising markets. With the fitness market poised for continued growth, they're on a mission to reframe the notion of working out by offering the most inclusive fitness experience. Club owners may offer additional amenities, such as an infrared spa or body composition analysis a la carte or as part of a premium membership package.
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- Services
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- -
- -
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Still Point Massage & Wellness Studio is your sanctuary to escape from the everyday stresses and demands of life. We believe you should be able to design your massage experience! All of our massages include Hot and Cold Stones, Hot Towels, doTerra Essential Oils, and Therapeutic/Deep Tissue Massage at zero additional cost.
- WRx Pharmacy
- Retailer
- -
- -
- Triple Net
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Contrarian Game Cafe | Accommodation and Food Services | - | $24.84 | Triple Net | Mar 2027 | |
| Dough Boys Pizza | - | - | - | Triple Net | - | |
|
|
Retailer | - | - | Triple Net | - | |
| Generations Church | Services | - | - | Triple Net | Jun 2024 | |
| Hair Options | Retailer | - | - | - | - | |
| McCann's Medical Supply | - | - | - | Triple Net | - | |
| Mount Vista Family Dental | - | - | - | - | - | |
|
|
Arts, Entertainment, and Recreation | - | - | - | - | |
|
|
Services | - | - | - | - | |
| WRx Pharmacy | Retailer | - | - | Triple Net | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 117895-040 | Total Assessment | $6,598,200 |
| Land Assessment | $1,602,600 | Annual Taxes | $67,521 ($2.53/SF) |
| Improvements Assessment | $4,995,600 | Tax Year | 2025 |
