Building Details

Tenancy Single

Listing Agency: Commercial Real Estate NW Show Phone

Listed By: Denise Brohoski · License #200508190 Show Phone

Source: Moodyscre

Added: Oct 13 Changed: Oct 15 Last Checked: Oct 15 at 2:39AM

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Investment Insights

Based on property information with market context.

This 1,660-square-foot storefront is configured for a single occupant and includes customer seating, a food-preparation kitchen, and a triple-barrel dishwashing sink. An office at the rear has a roll-up door for shipping and deliveries.

The building has previously served as a storefront and online retail operation. Its existing layout also supports a cafe or coffee shop setup.

Key Highlights

• 1,660‑square‑foot single‑tenant storefront
• Seating area, prep kitchen, and triple‑barrel dishwashing sink
• Rear office with roll‑up door for shipping and deliveries

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,251

Cap Rate

4.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$545,020 $545.0K

Cap Rate 7%

$389,300 $389.3K

Cap Rate 9%

$302,789 $302.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,660 SF

Gross rent

$37.8K $22.80/SF

− Vacancy

−$1.5K −$0.91/SF

EGI

$36.3K $21.89/SF

− OpEx

−$9.1K −$5.47/SF

NOI

$27.3K $16.42/SF

Area

Hillsboro, OR

Vacancy

4.00%

Lease Rate

$22.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$545,020

Cap Rate 7%

$389,300

Cap Rate 9%

$302,789

Alternative Uses

Best Use

Specialty Retail

$389.3K

$340.6K – $454.2K (±1% cap)

NOI $27,251 @ 7.0% cap · market cap 4.54%

Second Best

Retail

$348.1K

$304.6K – $406.2K (±1% cap)

NOI $24,369 @ 7.0% cap · market cap 4.06%

Theoretical Best

Office A

$445.8K

$390.1K – $520.1K (±1% cap)

NOI $31,204 @ 7.0% cap · market cap 5.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Storage Facility Garden Center Grocery & Convenience Store Big Box & Wholesale Store Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,853

Businesses Nearby

Under-served

Demand for This Use

Explore this area 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

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - A single-occupant space combines customer seating and food-preparation areas with a rear roll-up door for deliveries.

Where is this storefront property located?

The property is located at 159 SE 2nd Ave Hillsboro, 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: 1,660‑square‑foot single‑tenant storefront; Seating area, prep kitchen, and triple‑barrel dishwashing sink; Rear office with roll‑up door for shipping and deliveries