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    Cornelius Industrial Land For Sale Title is generated by Realmo AI

    85 N 26th Avenue, Cornelius, OR 97113

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    Industrial land with redevelopment potential in Cornelius, Oregon.

    Type:Grandfathered Non-Conforming Industrial Use
    Property size:
    36,500 SF
    Lot size:
    6.25 Acres
    Added:
    Feb 26, 2026
    Days on Market:
    102
    Last Refresh:
    Feb 26 at 11:02 pm

    Property Features for 85 N 26th Avenue

    General Information

    Standard status
    Active
    Size
    36,500 SF
    Lot size
    6.25 Acres
    Property subtype
    Grandfathered Non-Conforming Industrial Use

    We can help!

    Listing Contact
    Chris Lio
    Chris Lio

    Listing agent Chris Lio License #OR #970200025

    Listing office NAI Elliott

    Listing date Feb 26, 2026

    Source Naiglobal

    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 NAI Elliott

    HighLights

    • Immediate rental upside as industrial yard under grandfathered zoning.
    • Excellent long‑term redevelopment potential for mixed‑use development.
    • Large level site with significantly below‑market yard and building rent.
    • Great highway access to Hillsboro and western Portland suburbs.
    • Approximately 4 acres of surplus frontage property for future mixed‑use development.
    • Existing 36,500sf of buildings and a 3‑sided covered parking shed.

    Overview

    This property presents an exceptional opportunity with immediate upside due to grandfathered industrial zoning rules, along with significant long-term potential for mixed-use redevelopment. The site is envisioned as a gateway neighborhood to the City of Cornelius. The existing industrial configuration cannot be changed or expanded, and redevelopment or expansion will require development under current zoning, which will require mixed commercial and residential use. The property features a large, level site with below-market yard and building rent. There are six existing buildings and a three-sided covered parking shed on-site, totaling approximately 36,500 square feet. The property includes roughly 6.25 acres of leasable yard areas and approximately 4 acres of surplus frontage property suitable for future mixed-use development. The location offers excellent highway access to Hillsboro and the western Portland suburbs. Immediate rental upside exists for industrial yard use under the grandfathered zoning. The property has excellent long-term redevelopment potential as a mixed-use gateway neighborhood.
    Location Intelligence

    Current Use by Public Records

    Advanced Surfaces (Bike/Boat/Book/etc) Store Custom Equipment Repair Auto Repair Shop Advanced Surfaces and Processes ... Corporate Office

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cornelius
    County
    Washington
    State
    Oregon
    Longitude
    -123.0406363
    Latitude
    45.5214532

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    FAQs

    What type of property is this?
    Industrial property - Industrial land with redevelopment potential in Cornelius, Oregon.
    Where is this industrial property located?
    The property is located at 85 N 26th Avenue Cornelius, OR.
    What are key features of this property?
    This property features: Immediate rental upside as industrial yard under grandfathered zoning.; Excellent long‑term redevelopment potential for mixed‑use development.; Large level site with significantly below‑market yard and building rent.
    (503) 804-2929
    We can help!
    Listing Contact
    Chris Lio
    Chris Lio
    Real Estate License ID: OR #970200025
    Learn More
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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.

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