Single-Story Office Building with Fenced
For Sale
Contact for pricing
124 Berkley Ave, Molalla, OR 97038
Office building zoned C1 with a large, fully-fenced yard, suitable for office use and potential daycare or medical practices.
Property Size2,200 SF
Price / SF$272.73
Days on Market555
Property Features for 124 Berkley Ave
General Information
Standard status
Active
Size
2,200 SF
Property subtype
OFFICE
Zoning
C1
Amenities
fully-fenced yard
Building Details
Year Built
1960
Buildings
1
Building Size
2,200 SF
Listing Agency:
NAI Elliott
(503) 224-6791
Listed By:
Chris Lio · License ##970200025
(503) 804-2929
Source:
Moodyscre
Added: Mar 7, 2025
Changed: Sep 4
Last Checked: Sep 13 at 9:16AM
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
Investment Insights
Based on property information with market context.
This 2,200 SF office building was constructed in 1960 and is zoned C1. The property is well-suited for office investors and can also support other community-serving uses, including the potential for daycare facilities or medical practices, based on the configuration described.
A large, fully-fenced yard adds versatility for outdoor use and can help support day-to-day operational needs for a wide range of tenants. The property is located at 124 Berkley Ave in the Molalla area, offering a versatile foundation for businesses looking for an established office structure combined with outdoor space.
With its combination of indoor office space and a fenced yard, the building provides a practical option for tenants seeking a C1-zoned office location with room to support additional operational functionality.
A large, fully-fenced yard adds versatility for outdoor use and can help support day-to-day operational needs for a wide range of tenants. The property is located at 124 Berkley Ave in the Molalla area, offering a versatile foundation for businesses looking for an established office structure combined with outdoor space.
With its combination of indoor office space and a fenced yard, the building provides a practical option for tenants seeking a C1-zoned office location with room to support additional operational functionality.
Key Highlights
- 2,200 SF office building constructed in 1960
- Zoned C1
- Large, fully‑fenced yard for versatile outdoor use
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
$33,647
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
5.61%
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%
$672,940
$672.9K
Cap Rate 7%
$480,671
$480.7K
Cap Rate 9%
$373,856
$373.9K
Market Conditions
NOI Build-Up for 2,200 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
$65.2K $29.64/SF
− Vacancy
−$9.1K −$4.15/SF
EGI
$56.1K $25.49/SF
− OpEx
−$22.4K −$10.20/SF
NOI
$33.6K $15.29/SF
Area
Clackamas County, OR
Vacancy
14.00%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
40.00%
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%
$672,940
Cap Rate 7%
$480,671
Cap Rate 9%
$373,856
Alternative Uses
Best Use
Healthcare Medical
$480.7K
$420.6K – $560.8K
NOI $33,647 @ 7.0% cap · market cap 5.61%
Second Best
Office B
$406.8K
$356.0K – $474.6K
NOI $28,478 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$593.8K
$519.6K – $692.8K
NOI $41,568 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Explore this area
Business Placement
Demographics for 97038, OR
17,173
Population
6,423
Households
2.7
Avg Household Size
38
Median Age
20%
College-Educated
90%
High-School Grad
130.8 sq mi
ZIP Area
131
Density / Sq Mi
$87,585
Median Household Income
$45,681
Median Earnings
$1,497
Median Rent
$452,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office building zoned C1 with a large, fully-fenced yard, suitable for office use and potential daycare or medical practices.
Where is this office building located?
The property is located at 124 Berkley Ave Molalla, OR.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 2,200 SF office building constructed in 1960; Zoned C1; Large, fully‑fenced yard for versatile outdoor use
