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    12390 Southwest Knoll Dr Tigard, OR 97223

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    Planned 182-unit workforce housing development site in Tigard, Oregon.

    Property Features for 12390 Southwest Knoll Dr

    General Information

    Zoning
    Station Area MU

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    Listing Contact
    Skip Rotticci, Ccim
    Skip Rotticci, Ccim
    Source: Macadamforbes

    Listing Agency: Macadam Forbes Listing Agent: Skip Rotticci, Ccim

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

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    Property Insight Report

    Overview

    Development Site in Tigard QOZ

    This site is planned for a 182-unit workforce housing development in Tigard's Qualified Opportunity Zone. The proposed Knoll Apartments at 12390 SW Knoll Drive in Tigard, Oregon, are designed to offer modern living in a serene suburban setting. The Knoll Apartment site is located in a Qualified Opportunity Zone, potentially offering substantial tax benefits to the developer. The apartments will feature contemporary architecture, blending seamlessly with the surrounding landscape of well-maintained streets and green spaces. The area is known for its mix of residential tranquility and accessibility to urban amenities. A variety of floor plans are anticipated, catering to different lifestyles, from studios to multi-bedroom units. These residences are expected to offer open-concept layouts, abundant natural light, and thoughtfully designed interiors featuring modern fixtures and finishes. Residents can look forward to a host of amenities designed to enhance their lifestyle. A community clubhouse or gathering space might be available for social events and gatherings, and an extensive outdoor plaza. Additionally, The Knoll will be adjacent to the future Tigard Light Rail Station and is within walking distance of the current WES Commuter Rail Station. The apartments' location is likely to offer convenient access to nearby conveniences, including shopping centers, dining options, entertainment venues, and outdoor recreational areas. Residents may also benefit from proximity to major transportation routes, providing easy commuting options. The site is within walking distance of downtown Tigard and close to the WES Commuter Rail Station.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tigard
    County
    Washington
    State
    Oregon
    Longitude
    -122.773
    Latitude
    45.4423

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    FAQs

    What type of property is this?
    Apartment building - Planned 182-unit workforce housing development site in Tigard, Oregon.
    Where is this apartment building located?
    The property is located at 12390 Southwest Knoll Dr Tigard, OR.
    What are key features of this property?
    This property features: - Located in a Qualified Opportunity Zone, offering substantial tax benefits.; - Adjacent to the future Tigard Light Rail Station, providing convenient access to public transportation.; - Walking distance to downtown Tigard, offering easy access to amenities and services.
    (503) 227-2500
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    12390 Southwest Knoll Dr Tigard, OR 97223
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    Tigard, OR 97223
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    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
    12390 Southwest Knoll Dr Tigard, OR 97223
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    We can help!
    Listing Contact
    Skip Rotticci, Ccim
    Skip Rotticci, Ccim
    Real Estate License ID: #200204348
    (503) 227-2500 (503) 314-0527 (503) 972-7284
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