8313 NE Highway 99
Lease-up or Owner-User Opportunity, 11k SF
Marketing description
8313 NE Highway 99, Vancouver, WA presents a rare opportunity to acquire a freestanding 11,000 SF commercial building in the heart of Vancouver’s highly active Hazel Dell retail corridor. Situated on ±0.84 acres, this modern 2006-built asset offers exceptional visibility along NE Highway 99, one of the area’s premier high-traffic commercial spines. Formerly occupied by Big 5 Sporting Goods, the property features an open floor plan, 14–16’ clear ceiling heights, grade-level access, and 20 surface parking spaces, making it ideal for a wide variety of uses including retail, grocery, fitness, showroom, entertainment, medical, and other general commercial applications. Flexible General Commercial (GC) zoning with no title or use restrictions further expands its potential. Surrounded by major national retailers including Walmart, Target, WinCo, Fred Meyer, Kohl’s, Ross, and Marshalls, the site benefits from strong consumer draw and outstanding regional connectivity. This is a compelling opportunity for an owner-user seeking a strategic flagship location or an investor targeting lease-up potential in a supply-constrained submarket where freestanding opportunities are increasingly hard to find.
Investment highlights
Rare Freestanding Format | Flexible GC Zoning | No Use Restrictions
• 11,000 SF freestanding commercial building on 0.84 acres — a format and lot size that is genuinely scarce along the Highway 99 corridor, where most available space is inline strip or multi-tenant
• 14–16’ clear ceiling heights and an open floor plan provide a blank-canvas configuration that accommodates retail, grocery, showroom, fitness, entertainment, medical, warehouse-style, and general commercial uses without structural modification
• General Commercial (GC) zoning carries no title restrictions and no use limitations beyond standard municipal code — the broadest available commercial designation in Vancouver’s zoning framework
• Grade-level access supports a wide range of operational formats; 20 surface parking spacesprovide an adequate ratio for most retail and service uses at this square footage
• Built in 2006 — a modern construction vintage relative to the surrounding corridor, with no deferred maintenance or significant capital requirements reported by ownership
For Sale at $245/SF | Lease Considered | Two Paths to Value
• Owner-user path: at $245/SF the acquisition cost compares favorably to replacement cost for a freestanding building of this size and specification in this market — ownership eliminates long-term rent exposure on a corridor where $20+/SF NNN rents are the market standard for comparable product
• Investor path: a fully leased stabilization at $20/SF NNN generates approximately $220,000 in gross annual income against a $2,700,000 basis — a lease-up play supported by strong submarket fundamentals and a nationally anchored retail corridor that has demonstrated consistent ability to attract and retain credit tenancy
• Estimated NNN expense load of $5.08/SF (taxes, insurance, maintenance) provides a clear underwriting basis for investors modeling stabilized returns
• No seller financing available; sale and lease offers reviewed concurrently — seller will respond to whichever path best serves their timeline
• The property is positioned to trade quickly given the scarcity of freestanding large-format commercial product available on the Highway 99 corridor at this price point
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