Light Industrial Distribution
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15450 SE For Mor Court, Clackamas, OR 97015
The property carries LI - Light Industrial zoning and was built in 1985.
Property Size42,425 SF
Price / SF$256.52
Days on Market7
Property Features for 15450 SE For Mor Court
General Information
Standard status
Active
Size
42,425 SF
Property subtype
Industrial
Zoning
LI - Light Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Building Details
Year Built
1985
Year Renovated
2024
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Alexander Harrold · License #CA 02009656
Source:
Crexi
Added: Aug 11
Changed: Aug 15
Last Checked: Aug 17 at 5:01PM
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 Matthews
Investment Insights
Based on property information with market context.
This distribution center contains 42,425 square feet and dates to 1985. The property is classified under LI - Light Industrial zoning, providing a defined industrial setting for the asset.
The building is located at 15450 SE For Mor Court in Clackamas, Oregon 97015. The source information identifies the property as SRS Distribution and associates it with Home Depot.
The building is located at 15450 SE For Mor Court in Clackamas, Oregon 97015. The source information identifies the property as SRS Distribution and associates it with Home Depot.
Key Highlights
- 42,425‑square‑foot distribution center
- LI - Light Industrial zoning
- Built in 1985
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
$323,340
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
2.97%
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%
$6,466,800
$6.5M
Cap Rate 7%
$4,619,143
$4.6M
Cap Rate 9%
$3,592,667
$3.6M
Market Conditions
NOI Build-Up for 42,425 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
$407.3K $9.60/SF
− Vacancy
−$26.9K −$0.63/SF
EGI
$380.4K $8.97/SF
− OpEx
−$57.1K −$1.34/SF
NOI
$323.3K $7.62/SF
Area
Clackamas County, OR
Vacancy
6.60%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$6,466,800
Cap Rate 7%
$4,619,143
Cap Rate 9%
$3,592,667
Alternative Uses
Best Use
Warehouse
$4.62M
$4.04M – $5.39M
NOI $323,340 @ 7.0% cap · market cap 2.97%
Second Best
Industrial
$3.80M
$3.33M – $4.44M
NOI $266,280 @ 7.0% cap · market cap 2.45%
Theoretical Best
Office A
$11.45M
$10.02M – $13.36M
NOI $801,608 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Explore this area
Business Placement
Demographics for 97015, OR
23,265
Population
9,420
Households
2.5
Avg Household Size
37
Median Age
31%
College-Educated
92%
High-School Grad
8.8 sq mi
ZIP Area
2,644
Density / Sq Mi
$82,865
Median Household Income
$48,808
Median Earnings
$1,778
Median Rent
$491,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Distribution center - The property carries LI - Light Industrial zoning and was built in 1985.
Where is this distribution center located?
The property is located at 15450 SE For Mor Court Clackamas, OR.
What is the asking price?
The asking price for this property is $10,883,000.
What are key features of this property?
This property features: 42,425‑square‑foot distribution center; LI - Light Industrial zoning; Built in 1985
