Two-Unit Storefront
For Sale
$950,000
255 SW 1ST Ave, Canby, OR 97013
CommercialSale, Canby, OR
Property Size3,114 SF
Lot Size0.27 Acres
Price / SF$305.07
Days on Market100
Property Features for 255 SW 1ST Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Directions
HWY 99E Between Grant & Ivy in Canby
Subdivision
_146
Standard status
Active
APN
01427227
Size
3,114 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Description
1990-5 PARTITION PLAT PARCEL 1
Tax Annual Amount
8305
Legal Description
1990-5 PARTITION PLAT PARCEL 1
Utilities
Heating system
Forced Air
Building Details
Year built
1990
Floors in Building
1
Building materials
WoodSiding
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Shawn Varwig · License #201236159
(971) 340-6615
Added: May 18
Changed: Aug 25
Last Checked: Aug 25 at 4:06PM
MLS# 533093751
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-suite commercial building contains 3,114 square feet on a 0.27-acre parcel. Suite 1 comprises 1,056 SF and is occupied, while the 2,058 SF second suite is vacant. Constructed in 1990, the property features wood siding, forced-air heating, and a composition roof. C-2 Highway Commercial zoning supports a range of commercial uses within the existing storefront configuration.
The building fronts SW 1st Avenue, identified as Oregon Route 99E, in downtown Canby. The corridor carries approximately 22,000 vehicles daily, and the property is positioned 5 miles from Interstate-5 and 9 miles from Interstate-205. The surrounding trade area includes more than 42,000 residents within five miles and median household incomes exceeding $98,000 within one mile.
The building fronts SW 1st Avenue, identified as Oregon Route 99E, in downtown Canby. The corridor carries approximately 22,000 vehicles daily, and the property is positioned 5 miles from Interstate-5 and 9 miles from Interstate-205. The surrounding trade area includes more than 42,000 residents within five miles and median household incomes exceeding $98,000 within one mile.
Key Highlights
- 3,114‑square‑foot commercial building on a 0.27‑acre parcel
- Two suites: 1,056 SF occupied and 2,058 SF vacant
- Direct frontage on SW 1st Avenue, Oregon Route 99E
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,310
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$866,200
$866.2K
Cap Rate 7%
$618,714
$618.7K
Cap Rate 9%
$481,222
$481.2K
Market Conditions
NOI Build-Up for 3,114 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$66.9K $21.48/SF
− Vacancy
−$5.0K −$1.61/SF
EGI
$61.9K $19.87/SF
− OpEx
−$18.6K −$5.96/SF
NOI
$43.3K $13.91/SF
Area
Clackamas County, OR
Vacancy
7.50%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$866,200
Cap Rate 7%
$618,714
Cap Rate 9%
$481,222
Alternative Uses
Best Use
Retail
$618.7K
$541.4K – $721.8K
NOI $43,310 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$840.5K
$735.5K – $980.6K
NOI $58,838 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
940
Businesses Nearby
135k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 45%
Electronics 2%
McDonald's
Dining
24,323 visits/mo
0.3 miles
Fred Meyer Gas Station
Shops & Services
22,769 visits/mo
0.3 miles
Burgerville
Dining
13,073 visits/mo
0.5 miles
Taco Bell
Dining
12,996 visits/mo
0.4 miles
7-Eleven
Shops & Services
10,953 visits/mo
0.1 miles
Demographics for 97013, OR
24,512
Population
9,152
Households
2.7
Avg Household Size
41
Median Age
30%
College-Educated
88%
High-School Grad
58.9 sq mi
ZIP Area
416
Density / Sq Mi
$99,343
Median Household Income
$49,207
Median Earnings
$1,439
Median Rent
$509,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- SECRET GARDEN FLORAL — 181 N Grant St UNIT 101, Canby, OR 97013
- Hulbert's Flowers — 334 SE 1st Ave, Canby, OR 97013
Frequently Asked Questions
What type of property is this?
Storefront property - C-2 zoning supports two-suite commercial occupancy in downtown Canby.
Where is this storefront property located?
The property is located at 255 SW 1ST Ave Canby, OR.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3,114‑square‑foot commercial building on a 0.27‑acre parcel; Two suites: 1,056 SF occupied and 2,058 SF vacant; Direct frontage on SW 1st Avenue, Oregon Route 99E
