Residential Development Lot with Ranch
For Sale
$699,000
16500 SW 150TH Ave, Tigard, OR 97224
Land, Tigard, OR
Property Size2,115 SF
Lot Size0.62 Acres
Price / SF$330.50
Days on Market53
Property Features for 16500 SW 150TH Ave
General Information
Property type
Land
Property subtype
Single Family Residence
Zoning
FD-20
Elementary school
Deer Creek
Middle school
Twality
High school
Tualatin
Directions
99W / Pacific HWY in Door Sherwood/Tigard, turn onto SW Beef Bend Rd Rd or SW Roy Rogers Rd to 150th
Subdivision
_151
Standard status
Active
APN
R528218
Lot size
0.62 Acres
Taxes and HOA fees
Tax Description
ACRES 0.62
Tax Annual Amount
3627
Legal Description
ACRES 0.62
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
Jason Gardner · License #200503330
(971) 832-1234
Added: Jun 29
Changed: Aug 19
Last Checked: Aug 20 at 5:06AM
MLS# 447013049
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is situated on approximately 0.62 acres in the Beef Bend neighborhood within the Kingston Terrace Master Plan. The site includes a 2,115 sq ft single-level ranch home with an open, functional layout featuring four bedrooms, two bathrooms, and a large laundry/mud room. Outdoor improvements include mature trees, an expansive lawn, a deck, and a 28-foot covered patio with storage. Additional structures on site include a chicken coop with a playhouse and a shed, creating a private setting and options for interim use while future plans are considered.
The lot benefits from its corridor position between Roy Rogers and 99W, with convenient access to Sherwood, Beaverton, and the King City/Tigard area. Zoning is listed as FD-20, and the buyer is responsible for verifying all development details with the city, including zoning, density, utilities, and overall feasibility.
For buyers seeking residential development, the combination of a sizable lot and existing livable improvements can support a range of strategies, including owner-occupancy, rental, or a hold while pursuing future development. As with any development project, due diligence on zoning and permitted uses will be important to confirm what can be built and the best path forward for the site.
The lot benefits from its corridor position between Roy Rogers and 99W, with convenient access to Sherwood, Beaverton, and the King City/Tigard area. Zoning is listed as FD-20, and the buyer is responsible for verifying all development details with the city, including zoning, density, utilities, and overall feasibility.
For buyers seeking residential development, the combination of a sizable lot and existing livable improvements can support a range of strategies, including owner-occupancy, rental, or a hold while pursuing future development. As with any development project, due diligence on zoning and permitted uses will be important to confirm what can be built and the best path forward for the site.
Key Highlights
- Approximately 0.5‑acre lot in the Beef Bend neighborhood within the Kingston Terrace Master Plan (buyer to verify).
- Existing 2,115 SF single‑level ranch home.
- 4 bedrooms and 2 bathrooms with an open, functional floor plan.
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
$27,157
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
3.89%
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%
$543,140
$543.1K
Cap Rate 7%
$387,957
$388.0K
Cap Rate 9%
$301,744
$301.7K
Market Conditions
NOI Build-Up for 2,115 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
$52.0K $24.60/SF
− Vacancy
−$2.7K −$1.25/SF
EGI
$49.4K $23.35/SF
− OpEx
−$22.2K −$10.51/SF
NOI
$27.2K $12.84/SF
Area
Washington County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$543,140
Cap Rate 7%
$387,957
Cap Rate 9%
$301,744
Alternative Uses
Best Use
Apartment 5plus
$388.0K
$339.5K – $452.6K
NOI $27,157 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$570.9K
$499.5K – $666.0K
NOI $39,962 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 97224, OR
37,365
Population
15,938
Households
2.3
Avg Household Size
43
Median Age
48%
College-Educated
94%
High-School Grad
9.0 sq mi
ZIP Area
4,152
Density / Sq Mi
$94,456
Median Household Income
$55,802
Median Earnings
$1,693
Median Rent
$579,400
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - A half-acre Tigard lot with a single-level ranch, covered patio, and outbuildings for flexible owner or interim use.
Where is this single family property located?
The property is located at 16500 SW 150TH Ave Tigard, OR.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Approximately 0.5‑acre lot in the Beef Bend neighborhood within the Kingston Terrace Master Plan (buyer to verify).; Existing 2,115 SF single‑level ranch home.; 4 bedrooms and 2 bathrooms with an open, functional floor plan.
