Victorian Office
For Sale
$339,900
Pending
144 SE WALNUT, Hillsboro, OR 97123
Updated interior and I-G zoning support a range of potential commercial uses.
Property Size1,619 SF
Days on Market953
Property Features for 144 SE WALNUT
General Information
Standard status
Pending
Size
1,619 SF
Property subtype
Commercial
Zoning
I-G
Additional Details
Property Use
Professional Offices
Amenities
ADA ramp
bathroom
Central air
Central Air Cooling
Composition Roof
Forced Air Heating
On Site
Shake Roof
Building Details
Year Built
1900
Buildings
1
Construction
Victorian
Listing Agency:
BLUEBIRD REAL ESTATE
(503) 341-8221
Listed By:
TONI MIKEL · License #200106072
Source:
Corcoran
Added: Mar 27, 2024
Changed: Nov 3
Last Checked: Nov 4 at 1:10PM
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 BLUEBIRD REAL ESTATE
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Investment Insights
Based on property information with market context.
This 1,619-square-foot Victorian building was constructed in 1900 and has been updated. Its recent use was as professional offices, and the property includes an ADA ramp and a bathroom. I-G zoning allows a broad range of uses.
The property is at 144 SE Walnut in Hillsboro, close to the downtown core. The city has a process for future demolition or redevelopment of sites with historic buildings. The seller is open to a three-year contract.
The property is at 144 SE Walnut in Hillsboro, close to the downtown core. The city has a process for future demolition or redevelopment of sites with historic buildings. The seller is open to a three-year contract.
Key Highlights
- 1,619 square feet; built in 1900
- Updated Victorian building with recent professional office use
- I‑G zoning allows a range of uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,858
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,160
$317.2K
Cap Rate 7%
$226,543
$226.5K
Cap Rate 9%
$176,200
$176.2K
Market Conditions
NOI Build-Up for 1,619 SF
Gross rent
$32.8K $20.28/SF
− Vacancy
−$11.7K −$7.22/SF
EGI
$21.1K $13.06/SF
− OpEx
−$5.3K −$3.27/SF
NOI
$15.9K $9.80/SF
Area
Hillsboro, OR
Vacancy
35.60%
Lease Rate
$20.28 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,160
Cap Rate 7%
$226,543
Cap Rate 9%
$176,200
Alternative Uses
Best Use
Office B
$226.5K
$198.2K – $264.3K
NOI $15,858 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$434.8K
$380.4K – $507.2K
NOI $30,433 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,838
Businesses Nearby
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Business Placement
Demographics for 97123, OR
48,369
Population
17,685
Households
2.7
Avg Household Size
37
Median Age
36%
College-Educated
87%
High-School Grad
55.7 sq mi
ZIP Area
868
Density / Sq Mi
$105,999
Median Household Income
$50,578
Median Earnings
$1,814
Median Rent
$489,100
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Updated interior and I-G zoning support a range of potential commercial uses.
Where is this office building located?
The property is located at 144 SE WALNUT Hillsboro, OR.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 1,619 square feet; built in 1900; Updated Victorian building with recent professional office use; I‑G zoning allows a range of uses
