Well-Maintained Corner Retail
For Sale
Contact for pricing
17350 Smith Avenue, Sandy, OR 97055
Five-tenant, 100% occupied retail building with on-site parking and a monument sign on Proctor Blvd.
Property Size4,300 SF
Price / SF$226.74
Days on Market63
Property Features for 17350 Smith Avenue
General Information
Standard status
Active
Size
4,300 SF
Total Parking Spaces
18
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Additional Details
Office Units
5
Building Details
Units
5
Tenancy
Multi
Listing Agency:
Kohler Meyers O'Halloran
(503) 661-8000
Listed By:
Sue O'Halloran · License #OR 820700012
Source:
Crexi
Added: Jun 9
Changed: Aug 8
Last Checked: Aug 9 at 2:08PM
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 Kohler Meyers O'Halloran
Investment Insights
Based on property information with market context.
This well-maintained retail building features multiple tenant spaces within a five-tenant configuration. The property is described as having several upgrades to tenant spaces and includes on-site parking for tenant and visitor convenience. A sign monument is also identified on Proctor Blvd.
The building is located in the heart of the Sandy business district on a corner at Proctor and Smith Avenue. The listing highlights the corner position and identifies frontage signage via the Proctor Blvd monument sign.
For buyers or operators seeking a managed retail asset, the property’s fully leased status (100% occupied) and existing tenant-space upgrades can support immediate occupancy goals. The mix of five tenant spaces may appeal to strategies focused on diversified retail occupancy within one building, with on-site parking and prominent monument signage noted as on-property amenities.
The building is located in the heart of the Sandy business district on a corner at Proctor and Smith Avenue. The listing highlights the corner position and identifies frontage signage via the Proctor Blvd monument sign.
For buyers or operators seeking a managed retail asset, the property’s fully leased status (100% occupied) and existing tenant-space upgrades can support immediate occupancy goals. The mix of five tenant spaces may appeal to strategies focused on diversified retail occupancy within one building, with on-site parking and prominent monument signage noted as on-property amenities.
Key Highlights
- Five‑tenant retail building with 100% occupancy
- Corner location at Proctor and Smith Avenue
- On‑site parking available
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
$59,806
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
6.13%
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%
$1,196,120
$1.2M
Cap Rate 7%
$854,371
$854.4K
Cap Rate 9%
$664,511
$664.5K
Market Conditions
NOI Build-Up for 4,300 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
$92.4K $21.48/SF
− Vacancy
−$6.9K −$1.61/SF
EGI
$85.4K $19.87/SF
− OpEx
−$25.6K −$5.96/SF
NOI
$59.8K $13.91/SF
Area
Clackamas County, OR
Vacancy
7.50%
Lease Rate
$21.48 /SF/Yr
Expense Ratio
30.00%
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%
$1,196,120
Cap Rate 7%
$854,371
Cap Rate 9%
$664,511
Alternative Uses
Best Use
Retail
$854.4K
$747.6K – $996.8K
NOI $59,806 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,247 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
619
Businesses Nearby
Explore this area
Business Placement
Demographics for 97055, OR
20,606
Population
7,931
Households
2.6
Avg Household Size
39
Median Age
26%
College-Educated
95%
High-School Grad
112.6 sq mi
ZIP Area
183
Density / Sq Mi
$105,696
Median Household Income
$54,075
Median Earnings
$1,573
Median Rent
$472,900
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Five-tenant, 100% occupied retail building with on-site parking and a monument sign on Proctor Blvd.
Where is this retail space located?
The property is located at 17350 Smith Avenue Sandy, OR.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Five‑tenant retail building with 100% occupancy; Corner location at Proctor and Smith Avenue; On‑site parking available
