Union Station 301 NE 192nd Ave 35,547 SF 100% Leased Retail Building Camas, WA 98607 $20,310,000 ($571.36/SF) 5.75% Cap Rate

This Offering presents the opportunity to acquire a stabilized retail asset in a rapidly growing area of Vancouver, WA that is directly adjacent to a highly successful Costco. The Opportunity offers attractive assumable, interest-only financing at 4.57% through March 2032. This below-market financing provides strong cash-on-cash returns day one.
Anchored by a diverse mix of national and regional operators, the Property is 100% leased to financial services, health and fitness, and food-and-beverage-focused tenants, with all tenants on NNN leases. The 35,547 SF property features 15 total tenants, of which 10 have occupied the Property since inception, and a recent expansion by the operator of Float Well into the the adjacent space. Union Station was developed by Hurley Development, who is regarded as one of the Northwest’s preeminent developers. The Offering includes three buildings, highlighted by attractive architectural finishes of stucco, wood, and metal accents as well as a drive-thru Black Rock Coffee pad.
The Property is strategically located adjacent to a high-performing Costco, which saw approximately 3 million visits over the past 12 months and ranks in the 72nd percentile of Costco locations nationally (per Placer.ai). The surrounding Clark County submarket continues to experience significant growth as well, with Vancouver and Camas posting population increases of 18% and 35%, respectively, over the last decade. Median home values now exceed $499,500 in Vancouver and $730,000 in Camas, with Camas household incomes exceeding $140,000, signaling long-term demographic strength and sustained demand in this thriving corridor.