1014 Main StVancouver, WA 98660

Property Details for 1014 Main St

Year built

1980

Construction

STEEL FRAME

Lot size

0.23 AC

Property size (Sq ft)

11,348 SF

Zone code

CX : VAN

Property type

Office properties

Property subtype

Other office properties

APN

051770-000

APU

51770000

Description

This exceptional Downtown Vancouver office property, located at 1014 Main Street (cross street: Washington), offers 11,348 square feet of versatile space in two, two-story buildings. Built in 1980 and renovated in 1993, the Class B building features a dedicated parking lot with 25+ spaces, a single elevator, and abundant natural light thanks to a large skylight in the lobby and windows in most offices. The layout is adaptable, suitable for a single large tenant or multiple smaller tenants. Amenities include several private offices, conference rooms, a break room with a full kitchen, bathrooms with showers, and an exterior break area with a covered walkway. The building exterior was repainted in 2023. The property is professionally managed, and the owner pays building insurance. Annual property taxes are $12,668.40. Other expenses include quarterly elevator maintenance ($495), bi-monthly water/sewer (~$200), monthly electricity (~$1071), and variable gas costs (~$94-$500). HVAC service contracts are $370.42 and $1020.43 semi-annually. Tenants are responsible for interior repairs under $500 due to normal wear and tear. The property is conveniently located within walking distance of shops, restaurants, and other services. This is a unique opportunity in the Downtown Vancouver submarket, with a motivated seller.

• CAP approach

  CAP return

  Valuation

  6%

  $3,116,842

  6.5%

  $2,877,085

  7%

  $2,671,578

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,185,398

  Geo Method

  $2,185,398

• Alternative Use

  Use

  Valuation

  Residential

  $3,567,585

  Hospitality

  $3,267,888

  Educational

  $2,718,845

  Medical

  $2,812,350

  Retail

  $4,229,314

Location Insight

City

Vancouver

County

Clark

State

Washington

Latitude

45.6293

Longitude

-122.672

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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