Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    6523 NE Cherry Dr Hillsboro, OR 97124

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $26 SF/Yr ($1,807 /Mo)

    Second-generation retail space in a mixed-use neighborhood near transit.

    Property size:
    834 SF
    Lot size:
    4.24 Acres

    Property Features for 6523 NE Cherry Dr

    General Information

    Size
    834 SF
    Lot size
    4.24 Acres

    We can help!

    Listing Contact
    Michelle Rozakis
    Source: Moodyscre

    Listing Agent: Michelle Rozakis

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space in Orenco Station

    Available retail and service spaces are located on the ground floor of Tessera at Orenco Station, a mixed-use neighborhood in Hillsboro. The Platform District encompasses over 48,000 square feet of commercial space and over 1,000 luxury apartments. Tessera's current co-tenants include Vivid Eye Care and Orenco Barber and Beauty. Part of the Orenco Station mixed-use neighborhood, the location offers a dense community with luxury apartment units, MAX Light Rail access, and multiple neighborhood retail and dining options. The property features street frontage, walkability, transit access, and a diverse retail tenant mix. It is located within a two-minute walking distance of Orenco Station’s TriMet MAX Light Rail Stop and near Intel’s Ronler Acres and Hawthorn Farm Campuses. Nearby points of interest include La Provence, New Season’s Market, AR Workshop, One Horse Taphouse, Orangetheory Fitness, Nine Dang Fine Thai, Ava Rosteria, Mazama Brewing, Barre3 and Schmizza Public House. The property offers 834 square feet of space.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Hillsboro
    County
    Washington
    State
    Oregon
    Longitude
    -122.9127821
    Latitude
    45.5316725

    Nearby Similar for Lease

    • Contact for pricing
      370,000 SF

      Hillsboro Retail/Restaurant Space Available

      Second generation retail and restaurant space in high-traffic shopping center.
      10050 NE Emma Way, Hillsboro, OR 97124
      View Details
    • Contact for pricing
      2,320 SF

      Hillsboro Retail Opportunity

      Retail spaces available in Reed's Crossing Town Center.
      7865 SE Blanton St, Hillsboro, OR 97078
      View Details
    • Contact for pricing
      2,980 SF

      Retail Space in Reed's Crossing

      Premier retail opportunity in a dynamic, fast-growing South Hillsboro neighborhood.
      7793-7833 SE Blanton St, Hillsboro, OR 97078
      View Details
    • Contact for pricing
      3,176 SF

      Retail Space in Reed's Crossing

      Premier retail opportunity in South Hillsboro's growing community.
      7705-7753 SE Blanton St, Hillsboro, OR 97078
      View Details
    • Contact for pricing
      1,210 SF

      Retail Space in Reed's Crossing

      Premier retail and service development in South Hillsboro.
      7511-7551 SE Blanton St, Hillsboro, OR 97078
      View Details
    • Contact for pricing
      1,153 SF

      Retail Space in Growing Community

      Premier retail and service spaces in South Hillsboro.
      7607-7639 SE Blanton St, Hillsboro, OR 97078
      View Details
    • Contact for pricing
      1,171 SF

      Retail Space in Reed's Crossing

      Premier retail and service spaces in growing South Hillsboro.
      3555-3611 SE Cornelius Pass Rd, Hillsboro, OR 97124
      View Details
    • Contact for pricing
      211,863 SF

      Hillsboro Flex/Industrial Space Available

      211,863 SF flex/industrial space in Hillsboro, Oregon for lease.
      18700 NW Walker Rd, Hillsboro, OR 97006
      View Details
    • Contact for pricing

      Hillsboro Office, Lab, and R&D

      Premier property in Hillsboro for office, lab, and R&D.
      Hillsboro, OR 97006
      View Details
    • $38 SF/Yr
      322,176 SF

      Orenco Station Retail/Office Space

      Second generation retail and office spaces available in Hillsboro, Oregon.
      NE Cherry Dr, Hillsboro, OR 97124
      View Details
    • Contact for pricing

      New Industrial Development in Hillsboro

      New construction industrial development with ample loading and parking.
      4630 NE Sewell Ave, Hillsboro, OR 97124
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Tanasbourne Village

      Retail space in high-traffic Tanasbourne Village near Highway 26.
      2095 NW 185Th Ave, Hillsboro, OR 97124
      View Details

    FAQs

    What type of property is this?
    Retail space - Second-generation retail space in a mixed-use neighborhood near transit.
    Where is this retail space located?
    The property is located at 6523 NE Cherry Dr Hillsboro, OR.
    What is the lease rate?
    The lease rate is $26 SF/Yr.
    What are key features of this property?
    This property features: - Located in the heart of Orenco Station, a dense mixed-use neighborhood with luxury apartments, retail, and dining.; - Excellent transit access with a two-minute walk to the TriMet MAX Light Rail stop.; - High visibility with excellent street frontage and walkability.
    (503) 222-0755
    Request Owner's contact information
    6523 NE Cherry Dr Hillsboro, OR 97124
    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.
    6523 NE Cherry Dr
    Hillsboro, OR 97124
    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
    6523 NE Cherry Dr Hillsboro, OR 97124
    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

    We can help!
    Listing Contact
    Michelle Rozakis
    (503) 222-0755
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.