Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Prime Commercial Land Opportunity Title is generated by Realmo AI

    29281 S OLD MOLALLA Rd, Molalla, OR 97038

    View on Map
    Claim this Listing
    New
    For Sale
    $1,095,000

    LAND - Molalla, OR

    Property size:
    1,100 SF
    Lot size:
    3.62 Acres
    Price / SF:
    $995/SF
    Added:
    May 22, 2026
    Days on Market:
    1
    Last Refresh:
    May 22 at 1:06 pm

    Property Features for 29281 S OLD MOLALLA Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RC
    Standard status
    Active
    APN
    01039762
    Size
    1,100 SF
    Lot size
    3.62 Acres

    Taxes and HOA fees

    Tax Description
    SECTION 32 TOWNSHIP 4S RANGE 2E TAX LOT 03503
    Tax Annual Amount
    3859

    We can help!

    Listing Contact
    Tracy Keegan

    Listing agent Tracy Keegan

    Listing office Premiere Property Group, LLC 5000 Meadows Rd Ste 150, Lake Oswego, OR

    Listing date May 22, 2026

    MLS# 399164386 Listing URL

    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.

    HighLights

    • Prime 3.62 AC commercial property with high visibility on a busy highway (Highway 213 & Molalla Ave corner).
    • Zoned "RC" allowing for residential, retail, and commercial use.
    • Includes 4 parcels: #01039726 (.72 AC), #01039762 (1.58 AC), #05022831 (1.1 AC), & #05022830 (.22 AC).
    • All flat and usable land.
    • Features an 1100 SF shop (37'x30') with office space, concrete floor, and electricity.
    • Previously a successful restaurant/pub location (Keegans Korner).

    Overview

    This is a rare opportunity to purchase 3.62 acres of land in Molalla, Oregon, suitable for residential, retail, or commercial use. The property is zoned commercial "RC" and offers high visibility due to its location on the corner of Highway 213 and Molalla Avenue. The land is flat and usable, comprising four parcels: #01039726 (0.72 acres), #01039762 (1.58 acres), #05022831 (1.1 acres), and #05022830 (0.22 acres). A 1964 manufactured home with 2 bedrooms and 1 bathroom is present but has no value and is sold 'as is'. Additionally, there is a 37'x30' (1100 square feet) shop with office space, a concrete floor, and electricity. The property has been under the same ownership since 1984. A restaurant/pub business operated from this location until it was destroyed by fire in approximately 2000; formerly known as "Keegans Korner". The RC zoning allows for a multitude of uses. The property is being sold "as is".
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Auto Parts Store Storage Facility HVAC Service Discount Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Molalla
    County
    Clackamas
    State
    Oregon
    Longitude
    -122.589269
    Latitude
    45.183018

    Nearby Similar for Sale

    • $1,299,000

      Molalla Commercial Building with Drive-Through

      Commercial building in Molalla with drive-through, formerly a bank.
      200 CENTER AVE, Molalla, OR 97038
      View Details
    • $1,299,000
      1,723 SF

      Molalla Home with Commercial Shops

      Remodeled home with shops on commercially zoned 2.88 acres.
      1441 Main St, Molalla, OR 97038
      View Details
    • $105,000

      Residential Lot in Molalla, Oregon

      12,000+ sqft lot in established subdivision, tenant-occupied.
      35556 S AQUA SPRINGS Rd, Molalla, OR 97038
      View Details
    • $300,000

      Molalla Land with Development Potential

      Land in Molalla, zoned R3, offering multiple development options.
      416 KENNEL Ave, Molalla, OR 97038
      View Details
    • $1,299,000
      1,723 SF

      Molalla Home with Commercial Shops

      Remodeled home with shops on 2.88 acres in Molalla.
      1441 Main St, Molalla, OR 97038
      View Details
    • $225,000

      Molalla Land with Development Potential

      1.15 acre R-3 zoned land with creek in Molalla.
      Ona Way, Molalla, OR 97038
      View Details
    • $1,450,000
      3,500 SF

      Collins Pond and Lodge

      Custom log home with scenic views, pond, and wedding venue.
      33998 Ball Rd, Unit molalla, Molalla, OR 97038
      View Details
    • $65,000

      Treed Lot in Molalla

      Treed 5,000+ sqft lot in established subdivision.
      15634 S FAWN VIEW Way, Molalla, OR 97038
      View Details
    • $65,000

      Residential Lot in Molalla, Oregon

      Affordable residential lot in established subdivision. Tenant occupied.
      15646 S FAWN VIEW Way, Molalla, OR 97038
      View Details
    • $260,000

      Residential Lot in Molalla, Oregon

      32+/- acre residential lot for affordable housing.
      35517 S AQUA SPRINGS Rd, Molalla, OR 97038
      View Details
    • $1,299,000

      Molalla Development Infill Land

      1.93 acres in Molalla, featuring a 4-bedroom residence.
      829 TOLIVER Rd, Molalla, OR 97038
      View Details
    • $600,000
      2,200 SF

      Molalla Office Building For Sale

      2,200 SF office building in prime Molalla location.
      124 Berkley Ave, Molalla, OR 97038
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3.62 acres of commercial land in Molalla, Oregon.
    Where is this commercial land located?
    The property is located at 29281 S OLD MOLALLA Rd Molalla, OR.
    What is the asking price?
    The asking price for this property is $1,095,000.
    What are key features of this property?
    This property features: Prime 3.62 AC commercial property with **high visibility** on a busy highway (Highway 213 & Molalla Ave corner).; Zoned "RC" allowing for residential, retail, and commercial use.; Includes 4 parcels: #01039726 (.72 AC), #01039762 (1.58 AC), #05022831 (1.1 AC), & #05022830 (.22 AC).
    (503) 997-7145
    We can help!
    Listing Contact
    Tracy Keegan
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    29281 S OLD MOLALLA Rd, Molalla, OR 97038
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!