Flex Building with Lower-Level
12220 SW GRANT AVE, Tigard, OR 97223
For Sale
New
$949,000
The vacant property combines office space, storage, accessible entrances, and an expansive outdoor area.
Property Size3,513 SF
Lot Size0.66 Acres
Price / SF$270.14
Days on Market4
Property Features for 12220 SW GRANT AVE
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Highway Access
Public Transit
Warehouse & Industrial
Warehouse Space
Office Build-Out
Additional Details
Condition
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
wheelchair access
green space
Building Details
Building Size
Year Built
Buildings
Owner Occupied
Listing Agency:
Good Moves Oregon LLC
Listed By:
Gregory Goodenough · License #201232337
(503) 999-9046
Source:
Eleeterealestate
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 8:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Good Moves Oregon LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This vacant flex property in Tigard contains 3,513 square feet, with 2,457 square feet of office space on the main level and 1,056 square feet of storage below. The 0.66-acre site also includes parking and green space. Improvements include a new roof, a replacement sewer line, and wheelchair-accessible ramps at both the front and rear entrances.
The property is near the junction of Highways 217 and 99W, Tigard Transit Center, and the WES station. MUE zoning allows office use outright; indoor sales and services, as well as light industrial uses, are permitted subject to applicable standards.
The property is near the junction of Highways 217 and 99W, Tigard Transit Center, and the WES station. MUE zoning allows office use outright; indoor sales and services, as well as light industrial uses, are permitted subject to applicable standards.
Key Highlights
- 3,513 SF building on a 0.66‑acre lot
- 2,457 SF of main‑level office space and 1,056 SF of lower‑level storage
- New roof and sewer line
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,475
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$909,500
$909.5K
Cap Rate 7%
$649,643
$649.6K
Cap Rate 9%
$505,278
$505.3K
Market Conditions
NOI Build-Up for 3,513 SF
Gross rent
$80.1K $22.80/SF
− Vacancy
−$19.5K −$5.54/SF
EGI
$60.6K $17.26/SF
− OpEx
−$15.2K −$4.31/SF
NOI
$45.5K $12.94/SF
Area
ZIP 97223
Vacancy
24.30%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$909,500
Cap Rate 7%
$649,643
Cap Rate 9%
$505,278
Alternative Uses
Best Use
Office B
$649.6K
$568.4K – $757.9K
NOI $45,475 @ 7.0% cap · market cap 4.79%
Second Best
Flex RnD
$509.7K
$446.0K – $594.6K
NOI $35,677 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$986.5K
$863.2K – $1.15M
NOI $69,058 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,726
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97223, OR
49,967
Population
21,428
Households
2.3
Avg Household Size
39
Median Age
50%
College-Educated
95%
High-School Grad
11.1 sq mi
ZIP Area
4,502
Density / Sq Mi
$108,040
Median Household Income
$57,411
Median Earnings
$1,726
Median Rent
$577,600
Median Home Value
Market
Properties on Market for Flex space in Washington County
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- Koi Fusion — 10100 sw north dakota st, tigard, or 97223
- Dalton's Northwest Catering — 8530 SW Pfaffle St, Tigard, OR 97223
Frequently Asked Questions
What type of property is this?
Flex space - The vacant property combines office space, storage, accessible entrances, and an expansive outdoor area.
Where is this flex space located?
The property is located at 12220 SW GRANT AVE Tigard, OR.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 3,513 SF building on a 0.66‑acre lot; 2,457 SF of main‑level office space and 1,056 SF of lower‑level storage; New roof and sewer line
