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Firehouse Axes 400 E 37th St 2,970 SF Retail Building Vancouver, WA 98663 $1,025,000 ($345.12/SF) 6.81% Cap Rate
Investment Highlights
- Prime Location
- Strong Tenancy
- Notable Firehouse Property
Executive Summary
High Quality NNN Leased Investment For Sale!
DO NOT DISTURB TENANT. Call to tour.
Can be sold with NNN Leased Investment at 7501-7507 NE Glisan St. Portland, OR ($1,625,000 with 6.3 CAP)
PROPERTY/BUILDING:
-Original Engine 2 Firehouse!
-Fully renovated in 2022 inside and out
-Exceptional location, frontage and appearance on Main Street, Vancouver
-Large corner lot with ample parking/patio/yard
-2 ADA restrooms.
-Kitchen, bar, event areas
-4 aversized automatic grade level roll-up doors
-Drive thru warehouse bays
-Backup generator
-Basement storage
LEASE/TENANT:
-100% leased by Firehouse Axes since July, 2022 through June, 2028.
-True Triple Net Lease. Tenant conducts all property maintenance. No property manager required!
-3% annual Base Rent increases.
-Sticky lease. Tenant invested $400,000 in 2022 renovation.
-Excellent tenant financials. Available upon executed PSA.
-Likely to renew for a longer term.
-Under market rent
DO NOT DISTURB TENANT. Call to tour.
Can be sold with NNN Leased Investment at 7501-7507 NE Glisan St. Portland, OR ($1,625,000 with 6.3 CAP)
PROPERTY/BUILDING:
-Original Engine 2 Firehouse!
-Fully renovated in 2022 inside and out
-Exceptional location, frontage and appearance on Main Street, Vancouver
-Large corner lot with ample parking/patio/yard
-2 ADA restrooms.
-Kitchen, bar, event areas
-4 aversized automatic grade level roll-up doors
-Drive thru warehouse bays
-Backup generator
-Basement storage
LEASE/TENANT:
-100% leased by Firehouse Axes since July, 2022 through June, 2028.
-True Triple Net Lease. Tenant conducts all property maintenance. No property manager required!
-3% annual Base Rent increases.
-Sticky lease. Tenant invested $400,000 in 2022 renovation.
-Excellent tenant financials. Available upon executed PSA.
-Likely to renew for a longer term.
-Under market rent
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,970 SF
Building Class
C
Year Built/Renovated
1950/2021
Price
$1,025,000
Price Per SF
$345.12
Cap Rate
6.81%
NOI
$69,844
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
0.30 AC
Zoning
CC - Community Commercial
Parking
21 Spaces (6.06 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Corner Lot
- Restaurant
- Security System
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Drive Thru
- Wheelchair Accessible
- Storage Space
- Monument Signage
- Air Conditioning
- Smoke Detector
- Backup Power / Generators
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Firehouse Axes
- Accommodation and Food Services
- 3,465 SF
- $1.63
- Triple Net
- Jun 2028
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Firehouse Axes | Accommodation and Food Services | 3,465 SF | $1.63 | Triple Net | Jun 2028 |
Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
40/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 011280-000 | Improvements Assessment | $386,550 |
| Land Assessment | $221,000 | Total Assessment | $607,550 |
Property Taxes
Parcel Number
011280-000
Land Assessment
$221,000
Improvements Assessment
$386,550
Total Assessment
$607,550
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Firehouse Axes | 400 E 37th St