Remodeled Class B Office
For Sale
$1,795,000
15540 BOONES FERRY, Lake Oswego, OR 97035
Flexible office layout with updated finishes, conference space, kitchen, storage, and convenient transit access.
Property Size4,285 SF
Price / SF$418.90
Days on Market8
Property Features for 15540 BOONES FERRY
General Information
Standard status
Active
Size
4,285 SF
Class
B
Total Parking Spaces
12
Property subtype
Commercial
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$20,874
Amenities
full kitchen
conference room
half baths
recycling/garbage area
storage areas
natural light
9' ceilings
Central air
Central Air Cooling
Forced Air Heating
On street
Paved
Tile Roof
Building Details
Year Built
1999
Year Renovated
2016
Buildings
1
Building Size
4,285 SF
Listing Agency:
AVERY BUNICK PROPERTIES
(503) 799-3839
Listed By:
MARY JO AVERY · License #780300081
Source:
Corcoran
Added: Aug 13
Changed: Aug 17
Last Checked: Aug 19 at 9:44AM
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 AVERY BUNICK PROPERTIES
Investment Insights
Based on property information with market context.
Located at 15540 Boones Ferry in Lake Oswego, this Class B office building provides 4,285 square feet of adaptable workspace. The property was built in 1999 and remodeled in 2016, with a refreshed interior that includes a full kitchen, dedicated conference room, three half baths, multiple storage areas, and a recycling and garbage area. Natural light, 9-foot ceilings, and updated finishes contribute to a practical professional setting.
The property includes 12 on-site parking spaces and convenient access to public transportation. Its flexible configuration supports a range of professional or business uses, with features suited to both day-to-day operations and client-facing activity.
The property includes 12 on-site parking spaces and convenient access to public transportation. Its flexible configuration supports a range of professional or business uses, with features suited to both day-to-day operations and client-facing activity.
Key Highlights
- 4,285 SF Class B office building
- Remodeled in 2016 with updated interior finishes
- Dedicated conference room and full kitchen
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
$55,468
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
3.09%
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%
$1,109,360
$1.1M
Cap Rate 7%
$792,400
$792.4K
Cap Rate 9%
$616,311
$616.3K
Market Conditions
NOI Build-Up for 4,285 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
$97.7K $22.80/SF
− Vacancy
−$23.7K −$5.54/SF
EGI
$74.0K $17.26/SF
− OpEx
−$18.5K −$4.31/SF
NOI
$55.5K $12.94/SF
Area
Clackamas County, OR
Vacancy
24.30%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$1,109,360
Cap Rate 7%
$792,400
Cap Rate 9%
$616,311
Alternative Uses
Best Use
Office B
$792.4K
$693.4K – $924.5K
NOI $55,468 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,964 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,906
Businesses Nearby
Explore this area
Business Placement
Demographics for 97035, OR
25,770
Population
11,822
Households
2.2
Avg Household Size
44
Median Age
73%
College-Educated
99%
High-School Grad
5.8 sq mi
ZIP Area
4,443
Density / Sq Mi
$126,866
Median Household Income
$75,523
Median Earnings
$1,951
Median Rent
$790,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office layout with updated finishes, conference space, kitchen, storage, and convenient transit access.
Where is this office building located?
The property is located at 15540 BOONES FERRY Lake Oswego, OR.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 4,285 SF Class B office building; Remodeled in 2016 with updated interior finishes; Dedicated conference room and full kitchen
