301 NE 192nd Ave - Storefront Retail/Office FOR SALE


$21,530,000 USD
206-693-3352
301 NE 192nd Ave, Camas, WA for Sale
$21,530,000 USD
Storefront Retail/Office - FOR SALE
1/10
null | 5.4% Cap Rate


HIGHLIGHTS

  • Costco Shadow-Anchor: Directly across from Costco.
  • Attractive Financing: $10.5M assumable loan at 4.575%, matures 3/1/2032.
  • Diverse Tenant Mix: 97% occupied; 10 of 14 original tenants; Floatwell negotiating expansion into only vacancy.
  • Rapid Growth: Camas' population growing 3% annually (6x national avg); home values up 80%+ since 2021.
  • High-Quality New Construction: Developed by award-winning Hurley Development.
  • Retail Hub: Surrounded by major brands—Home Depot, Walmart, Lowe’s, Target, Chick-fil-A.

OVERVIEW

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 4.575% INT 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 97% 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 14 total tenants, of which 10 have occupied the Property since inception, and one vacant suite with an LOI from Float Well to expand their existing space that is currently being negotiated by Seller. 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.

FOR SALE DETAILS

PRICE

$21,530,000 USD

PRICE/SF

$1,643 USD /SF

CAP RATE

5.4%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Union Station

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

121

LAND DETAILS

LAND ACRES

2.58 AC

LAND SF

112,385 SF

ZONING

CC

APN/PARCEL ID

176164-001,986038-590,986038-591

ASK ABOUT THIS PROPERTY

Sean TuftsNorthmarqMore Info
206-693-3352

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Sean TuftsNorthmarqMore Info
206-693-3352

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.