Tigard Retail Investment
For Sale
$1,575,000
11642 SW Pacific Highway, Tigard, OR 97223
Multi-tenant retail property with development potential in Tigard, Oregon.
Property Size6,980 SF
Lot Size0.78 Acres
Price / SF$225.64
Days on Market229
Property Features for 11642 SW Pacific Highway
General Information
Standard status
Active
Size
6,980 SF
Lot size
0.78 Acres
Property subtype
Retail
Zoning
COM - Commercial, City of Tigard
Building Details
Building Size
6,980 SF
Year Built
1967
Listing Agency:
Macadam Forbes
Listed By:
Rhys Konrad · License #OR #201205396
(503) 972-7293
Source:
Macadamforbes
Added: Jan 27
Changed: Sep 4
Last Checked: Sep 13 at 6:12AM
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 Macadam Forbes
Investment Insights
Based on property information with market context.
This multi-tenant investment opportunity is located in Tigard, Oregon, offering a prime Westside location. The property features a building of approximately 6,980 square feet across two levels, situated on approximately 0.78 acres. The rear of the property includes excess land suitable for developing an additional structure or parking. Currently 66% occupied, the property presents an upside income potential through future leasing. Located along SW Pacific Highway, the area benefits from high visibility and significant foot traffic, making it ideal for retail businesses. The location is near Washington Square and Bridgeport Village malls, which attract locals and visitors. The surrounding affluent neighborhoods provide a strong customer base. Tigard presents an opportunity for retail investors looking to establish a presence in a dynamic and thriving community. The property is an underdeveloped site with potential for an additional building.
Key Highlights
- Multi‑tenant investment opportunity with upside income potential through future leasing of the 34% currently unoccupied space.
- Located in a high‑visibility, high‑traffic area of Tigard, Oregon, near affluent neighborhoods and major shopping centers.
- Large 0.78‑acre property with excess land suitable for developing an additional structure or parking.
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
$81,352
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
5.17%
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%
$1,627,040
$1.6M
Cap Rate 7%
$1,162,171
$1.2M
Cap Rate 9%
$903,911
$903.9K
Market Conditions
NOI Build-Up for 6,980 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
$125.6K $18.00/SF
− Vacancy
−$9.4K −$1.35/SF
EGI
$116.2K $16.65/SF
− OpEx
−$34.9K −$5.00/SF
NOI
$81.4K $11.66/SF
Area
ZIP 97223
Vacancy
7.50%
Lease Rate
$18.00 /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%
$1,627,040
Cap Rate 7%
$1,162,171
Cap Rate 9%
$903,911
Alternative Uses
Best Use
Retail
$1.16M
$1.02M – $1.36M
NOI $81,352 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,211 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,169
Businesses Nearby
6k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 81%
Shops & Services 19%
Hampton Inn
Hotels & Casinos
3,964 visits/mo
0.3 miles
Extra Space Storage
Shops & Services
1,057 visits/mo
0.3 miles
Quality Inn Tigard - Portland Southwest
Hotels & Casinos
682 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail property with development potential in Tigard, Oregon.
Where is this shopping center located?
The property is located at 11642 SW Pacific Highway Tigard, OR.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Multi‑tenant investment opportunity with upside income potential through future leasing of the 34% currently unoccupied space.; Located in a high‑visibility, high‑traffic area of Tigard, Oregon, near affluent neighborhoods and major shopping centers.; Large 0.78‑acre property with excess land suitable for developing an additional structure or parking.
