Downtown Hillsboro Commercial Building For
126 NE 2ND, Hillsboro, OR 97124
3,197 SF commercial building in the heart of Hillsboro.
Type:Commercial
Property size:
3,197 SFLot size:
0.07 AcresPrice / SF:
$218/SF- Added:
- Aug 12, 2025
- Days on Market:
- 279
- Last Refresh:
- Apr 5 at 8:55 pm
Property Features for 126 NE 2ND
General Information
- Standard status
- Active
- Size
- 3,197 SF
- Lot size
- 0.07 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1908
Listing agent KYLE HAYDEN
Listing office HAYDEN GROUP LLC (503) 648-6445
Listing date Aug 12, 2025
Source Corcoran
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 HAYDEN GROUP LLC
HighLights
- Prime downtown Hillsboro location on NE 2nd Street, directly facing the Washington County Courthouse and Civic Center, offering high visibility.
- Zoned SCC‑DT, permitting a wide range of uses including office, retail, residential, and more.
- Approximately 3,197 square foot commercial building, ready for immediate occupancy.
- Walking distance to public transportation, restaurants, and shops.
- Historically used as a law firm and a church.
- Built in 1908.
Overview
This commercial building offers approximately 3,197 square feet of space and is currently vacant, allowing for immediate occupancy. It is located in downtown Hillsboro on NE 2nd Street, providing high visibility near the intersection of 2nd and Main Street. The property directly faces the Washington County Courthouse and Civic Center. Its location provides convenient access to public transportation, restaurants, and shops. The property is zoned SCC-DT (Station Community Commercial – Downtown), which allows for a variety of uses, including office, retail, food markets, service stations, schools, medical and veterinary clinics, residential apartments from low to high-rise, group care facilities, and religious institutions. Historically, the building has been used as a law firm and a church.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$521.5K
NOI $46,933 @ 9.00% cap · cautious / downside scenario
Moderate
$670.5K
NOI $46,933 @ 7.00% cap · market / base-case scenario
Aggressive
$938.7K
NOI $46,933 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.2k | $21.96 |
| − Vacancy | −$3.2k | −$0.99 |
| EGI | $67.0k | $20.97 |
| − OpEx | −$20.1k | −$6.29 |
| NOI | $46.9k | $14.68 |
3,197 SF · lease $21.96/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$670.5K
$586.7K – $782.2K
NOI $46,933 @ 7.0% cap · market cap 6.71%
Second Best
Office B
$447.4K
$391.4K – $521.9K
NOI $31,315 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$858.5K
$751.2K – $1.00M
NOI $60,096 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Hillsboro
- County
- Washington
- State
- Oregon
- Longitude
- -122.988
- Latitude
- 45.5231
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - 3,197 SF commercial building in the heart of Hillsboro.
Where is this office building located?
The property is located at 126 NE 2ND Hillsboro, OR.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Prime downtown Hillsboro location on NE 2nd Street, directly facing the Washington County Courthouse and Civic Center, offering high visibility.; Zoned SCC‑DT, permitting a wide range of uses including office, retail, residential, and more.; Approximately 3,197 square foot commercial building, ready for immediate occupancy.
